Nyrada Inc. announced the European Patent Office (EPO) has issued a Notice of Intention to grant the Company's patent application number EP18768188.7. The application covers novel compounds developed by Nyrada that act as inhibitors of PCSK9 to enable a reduction in LDL (bad) cholesterol levels. The patent is expected to be granted by the EPO once the final administrative steps have been completed. The composition of matter patent will provide protection for Nyrada's intellectual property (IP) relating to its PCSK9 inhibitor technology until 16 March 2038.

The granting of this patent will strengthen the Company's ability to pursue commercial negotiations with pharmaceutical companies. The new European patent will build on the corresponding patent granted by the United States Patent and Trademark Office (USPTO) announced by the Company in July 2021. Notably, these patents are entirely owned by Nyrada and the Company's IP assignment is free of royalties or other incumbrances.