Drug development company Nyrada (ASX:NYR) has formed a strategic partnership with Rebiscan Inc. to collaborate on advancing therapies and outcomes for traumatic brain injury sufferers.
The collaboration spans joint research, conference presentations, and applications for non-dilutive funding grants.
Operating as Rebion, Rebiscan is a Boston-based medical device development company leveraging its Neural Performance Scanning (NPS) technology to identify and monitor functional impairments in the brain stemming from disease or injury.
Nyrada CEO James Bonnar said the partnership will expand the capacities of both companies, providing a platform to achieve a shared ambition of improving health outcomes for the millions of patients that suffer traumatic brain injury each year.
The traumatic brain injury market is large and rapidly growing, with no current FDA-approved therapies. Over 70 million people worldwide experience a traumatic brain injury each year, and the estimated annual healthcare cost of non-fatal traumatic brain injuries is over US$40 billion in the US alone.
Under its Brain Injury Program, Nyrada is developing NYR-BI03, a first in class a neuroprotective treatment for both stroke and traumatic brain injury. In February 2024, the Company disclosed preclinical stroke study results showing that NYR-BI03 provided a statistically significant level of neuroprotection, rescuing 42% of brain injury in the penumbra region in treated animals.
A preclinical study of NYR-BI03’s efficacy in traumatic brain injury is currently being conducted at the Walter Reed Army Institute of Research (WRAIR). NYR-BI03 is also currently undergoing preclinical Good Laboratory Practice (GLP) safety tests, a pre-requisite for an in-human Phase I clinical trial scheduled to commence in late 2HCY2024.
A mid-term goal of this Nyrada-Rebion partnership is to conduct a joint study assessing the efficacy of Nyrada’s brain injury therapy with Rebion’s brain injury detection and monitoring capabilities; potentially as part of Nyrada’s Phase II trial of NYR-BI033 currently scheduled for CY2025.
There are no immediate financial implications for Nyrada from entering this partnership. However, any material costs or benefits arising from collaborative activities, including discoveries or grants, will be communicated to the market.
