Rummage through any garage and chances are you’ll find a can of WD40. The name arose after 39 failed attempts at creating the trademark degreaser. You know what they say, 40th time’s a charm. 

In the pharmaceutical arena, failures, tweaks and fine-tuning are par for the course. Preclinical stage drug development company Nyrada (ASX: NYR) is no stranger to refining their formula. Now in its second iteration, Nyrada’s brain injury drug candidate NYR-BI02 is set to begin the Company’s first in-human study, making the Phase 1 trial a significant milestone. 

Designed for the treatment of brain injuries, the oral drug demonstrated excellent bioavailability in preclinical evaluations. This makes it ideal for use in the treatment of concussion where intravenous infusion is not preferable. Oral dosing also means that first responders can administer the medication in the field, improving patient outcomes by cutting out treatment delay. 

Currently there are no FDA approved drugs to treat secondary brain injury such as concussion. This is concerning considering the average annual incidence of concussion in one American state was 1153 per 100,000 people, and that’s only those who sought treatment. Nearly one third of all athletes have sustained a previously undiagnosed concussion. It is estimated that up to 50% of all mild brain injuries go unreported. 

“The oral bioavailability of NYR-BI02 opens the door for its development as an oral treatment for concussion, which accounts for around 85% of all traumatic brain injuries (TBIs),” said CEO James Bonnar. 

“While Nyrada remains focused on the development of our drug for moderate-severe TBI and stroke which would be administered intravenously, pursuing NYR-BI02’s development as an oral treatment for concussion is an additional program we may consider, given the significant interest in this area and the positive effect it would have on patient outcomes.”

The NYR-BI02 Phase 1 study is anticipated to commence in the second half of 2022 in Australia. The compound will also be analysed in a preclinical study on brain injury following successful pilot to optimise study design. This study is being carried out in collaboration with researchers at the Walter Reed Army Institute of research and UNSW Sydney. 

The Company maintains a robust cash position of $11.1 million as at 31 December 2021 to fund their ongoing research.