Noxopharm Sells Entire Stake in Nyrada Inc., Restructuring Corporate Holdings

Noxopharm Ltd. ( (AU:NOX) ) has issued an announcement.

Noxopharm Limited has announced the disposal of its entire holding in Nyrada Inc., a company it established in 2017. This move marks a significant shift in Nyrada’s corporate structure, with approximately 26% of the holdings being acquired by Nyrada’s board and management. The sale is part of an off-market process involving a syndicate of current and new Nyrada holders. Nyrada’s lead drug candidate, NYR-BI03, is advancing well in its Phase I clinical trial, showing promising results in treating ischemic stroke, traumatic brain injury, and myocardial ischemia-reperfusion injury, which suggests substantial future opportunities for the company.

More about Noxopharm Ltd.

Nyrada Inc. is a biotechnology company focused on the discovery and development of innovative small-molecule therapies, specifically targeting Transient Receptor Potential Canonical (TRPC) ion channels. The company’s lead candidate, NYR-BI03, has shown efficacy in both neuroprotection and cardioprotection, positioning it for a first-in-human Phase I clinical trial.

Average Trading Volume: 93,059

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$20.46M

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