Nyrada Inc. announced it has received a AUD 976,372 cash rebate ("R&D rebate") from the Australian Federal Government's Research & Development (R&D) tax incentive program. The R&D rebate relates to expenditure incurred on eligible R&D activities conducted during the 2020 financial year, in respect of Nyrada's preclinical work for its Cholesterol-Lowering and Brain Injury drug development programs. The amount received will partially fund the progression of these two programs to Phase I clinical trials and the working capital requirements of Nyrada Inc.