Nyrada Inc. announced a two-year extension to the collaboration between the company,WRAIR and UNSW, to January 2025. Amendments to the Collaborative Research and Development Agreement between the parties (Revised CRADA) will enable testing of Nyrada's brain injury drug candidate in a rodent model of penetrating traumatic brain injury, (PTBI) which mimics the serious head injuries suffered by military service members. The study will measure the degree to which intravenous administration of Nyrada's drug leads to a reduction in injury size following a PTBI.

This work builds on the studies already completed under the existing CRADA, which included an extensive pilot study run by WRAIR and UNSW to elucidate the most suitable model for testing Nyrada's brain injury drug. By utilising a specialised MRI technique called fractional anisotropy (FA), the team at UNSW were able to quantify the sizes of the primary and secondary injury volumes in the WRAIR PTBI and controlled cortical impact (CCI) models. It was determined that the PTBI model was more consistent in producing a quantifiable secondary injury measurement compared to the CCI model using the FA method of assessment.

This data formed the basis of the design for the TBI efficacy study and informed on the number of animals required to appropriately power the efficacy study. Given the magnitude of the study design and the additional resources required to complete the efficacy study, it was necessary to extend the term of the CRADA. Key Terms of the Revised CRADA: The TBI efficacy study will be undertaken in 1H CY2023 with the results expected in 2H CY2023.

All work under the existing CRADA has been completed as part of an in-kind non- financial arrangement between Nyrada and WRAIR. Pursuant to the terms of the Revised CRADA, Nyrada will provide WRAIR with sufficient drug quantities to complete the study, and USD 150,000 to cover key costs associated with the work. In exchange, the studies will be undertaken by WRAIR personnel at WRAIR's specialist TBI research facility in the US.

WRAIR and Nyrada will continue to work together to pursue non-dilutive funding opportunities to further progress the Company's Brain Injury Program. Nyrada recently revealed the biological target of its Brain Injury Program as a class of proteins known as the "Canonical" Transient Receptor Potential, or TRPC ion channels. Nyrada's brain injury drug candidate is a potent blocker of three subtypes of the channel - TRPC3, TRPC6 and TRPC7, which are present in high levels in brain tissue.

By targeting these channels, Nyrada's brain injury drug candidate is able to interrupt the sustained entry of calcium into the cells and thereby reduce secondary brain injury.