Nyrada appoints experienced biotech executive to board

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Drug discovery and development company Nyrada (ASX:NYR) has announced the appointment of Ian Dixon to its board.

The company also announced that Dr Graham Kelly will step down from the board to focus on his role as Noxopharm CEO and managing director. He will remain involved in Nyrada as a consultant. T

Dr Dixon is an experienced biotechnology executive having founded Nyrada with Dr Kelly. He has expertise in the development of PCSK9 inhibitors. He is also chairman and founder of Altnia Group, a privately held Australian biotechnology incubator and life sciences R&D company that has a 9.07 per cent holding in Nyrada.

Currently founder and managing director of exosome medicine company, Exopharm (ASX:EX1), Dr Dixon also serves as a part-time executive director of Medigard (ASX:MGZ). He co-founded Cynataand until recently served as a non-executive director of Noxopharm (ASX:NOX). Dr Dixon was also a director of Cell Therapies.

“We are thrilled to welcome Ian to Nyrada’s Board. Back in 2014, Ian was inspired to solve one of pharma’s biggest challenges for treating high cholesterol: how to make a cost-competitive and convenient small molecule PCSK9 inhibitor to improve patient compliance. His expertise and determination led to the foundation of our Cholesterol Lowering program. This program is going from strength to strength with very encouraging preclinical results already and we are delighted he will help us advance the program,” said Nyrada chairman John Moore.

“Dr Kelly has been involved with Nyrada since its inception in 2017. His vision and expertise have been instrumental in establishing the Company and assembling a world-class Board to drive its success. We thank him for diligence and commitment over the years and wish him all the best as he focuses on Noxopharm,” added Mr Moore.