Nyrada (ASX:NYR) - CEO, James Bonnar
CEO, James Bonnar
Source: Perth Now
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  • Biotechnology company Nyrada (NYR) has appointed Charles River Laboratories to conduct preclinical studies in the US
  • The studies are used to evaluate safety and tolerability of its cholesterol-lowering drug candidate
  • The data will determine the safe starting dose for the first-in-human study
  • Nyrada (NYR) closed Tuesday at A$0.22 per share

Biotechnology company Nyrada has appointed Charles River Laboratories to conduct preclinical studies in the US on its cholesterol-lowering drug candidate.

Following the studies, a cholesterol-lowering trial will be held in Australia.

The studies are used to evaluate safety and tolerability of Nyrada’s drug in research models. Data will determine the safe starting dose for the Phase 1 first-in-human study.

Nyrada CEO James Bonnar said the company was excited to be advancing to the next phase of its program.

“There is considerable industry interest in the development of oral PCSK9 inhibitors and we remain confident that our oral drug candidate, taken as a pill, has the potential to provide an important alternative to expensive and inconvenient injectable PCSK9 inhibitor drugs.”

The Phase I study will be a first-in-human, double-blind, randomised, dose escalation design evaluating the safety, tolerability, and pharmacokinetics of Nyrada’s leading drug candidate in approximately 56 healthy volunteers aged 18 to 50 years.

Nyrada has filed a PCT patent application for new generation PCSK9 inhibitor compounds.

The company specialises in novel small molecule drugs to treat cardiovascular and neurological diseases.

Nyrada (NYR) last traded at A$0.22 per share at Tuesday’s market close.

NYR by the numbers
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