Appendix 4E and 2025 Annual Report
Released
Released
Announcement PDF
Neurizon Therapeutics Limited / Appendix 4E
1. Company details
Name of entity:
Neurizon Therapeutics Limited
(Formerly known as PharmAust Limited)
ABN:
Reporting period:
Previous period:
35 094 006 023
For the year ended 30 June 2025
For the year ended 30 June 2024
2. Results for announcement to the market
$
Other income
up
117.3%
to
1,882,037
Loss from ordinary activities after tax attributable to
the owners of Neurizon Therapeutics Limited
up
116.3%
to
(16,593,619)
Loss for the year attributable to the owners of
Neurizon Therapeutics Limited
up
116.3%
to
(16,593,619)
Dividends
There were no dividends paid, recommended or declared during the current financial period.
Operating Results
The loss for the consolidated entity after providing for income tax amounted to $16,593,619 (30 June 2024: $7,673,153).
Financial Position
The net assets of the consolidated entity were $2,820,571 as at 30 June 2025 (30 June 2024: $10,228,243).
3. Net Tangible Asset
Net tangible assets per ordinary security
30 June 2025
Cents
30 June 2024
Cents
0.57
2.30
4. Control gained over entities
Not Applicable
5. Loss of control over entities
Not applicable.
6. Dividends
Current period
There were no dividends paid, recommended or declared during the current financial period.
Previous period
There were no dividends paid, recommended or declared during the previous financial period.
i
Neurizon Therapeutics Limited / Appendix 4E
7. Details of associates and joint venture entities
Not Applicable
8. Foreign entities
Details of origin of accounting standards used in compiling the report:
All foreign entities are in compliance with IFRS which is equivalent to Australian Accounting Standards.
9. Audit qualification or review
The 30 June 2025 financial statements and accompanying notes for Neurizon Therapeutics Limited have been audited and attached to
the Appendix 4E. An unmodified opinion has been issued.
10. Attachments
Details of attachments (if any):
The Annual Report of Neurizon Therapeutics Limited for the year ended 30 June 2025 is attached.
11. Signed
Signed ___________________________
Sergio Duchini
Chairman
ii
Date: 25 August 2025
2025
Annual Report
Hope on
the Horizon
Contents
02
Company Snapshot
04
Chairman’s Letter
06
Key Highlights
07
MD & CEO Letter
08
Financial report
70
Corporate directory
Science‑led.
Patient‑driven.
Globally connected.
Neurizon Therapeutics is a clinical‑stage biopharmaceutical company
leading the development of neurodegenerative disease treatments
towards a promising new horizon for patients.
Our focus is resolute
What’s on the horizon
At Neurizon, everything we do is guided by our mission:
to bring forward next‑generation treatments that make
a real difference in the lives of patients and their loved
ones living with neurodegenerative diseases.
With strong global partnerships and a clear clinical
pathway, we are building momentum toward regulatory
milestones and long‑term value creation.
Our goal is to create hope by delivering meaningful
progress for people living with neurodegenerative
diseases, and to advance innovative, disease‑modifying
therapies that address the underlying pathology and
drivers of neurodegenerative diseases like Amyotrophic
Lateral Sclerosis (ALS), the major form of Motor Neurone
Disease (MND), Huntington’s Disease (HD), and others.
We are building more than a biotech company – we are
creating a patient‑centered organisation grounded in
scientific credibility, transparency, and authentic
partnership with the communities we serve.
Neurizon Therapeutics Annual Report 2025
In the coming months, our priority is to open our
Investigational New Drug (IND) application with the
U.S. FDA for NUZ‑001, enabling us to commence the
HEALEY ALS Platform Trial in Q4 CY2025. This marks an
important inflection point in our journey – bringing us
closer to delivering a much‑needed, disease‑modifying
therapy to people living with ALS/MND.
Beyond ALS/MND, we are exploring the broader
potential of NUZ‑001 as a platform therapy for multiple
neurodegenerative diseases that share common
pathological drivers. We continue to strengthen
our preclinical and clinical data packages to support
this expanded potential, while advancing regulatory
strategies such as Fast Track Designation to accelerate
development timelines.
01
Company Snapshot
Reimagining Treatment for ALS/MND and Neurodegenerative Diseases
At Neurizon Therapeutics, we are redefining how neurodegenerative diseases are treated – by addressing their
root causes, not just symptoms. Our lead investigational therapy, NUZ‑001, is a novel, orally available small molecule
designed to restore neuronal health by enhancing the brain’s innate protein clearance systems.
NUZ‑001 targets shared pathological mechanisms – including TDP‑43 protein aggregation, impaired autophagy,
and STMN2 loss – with the potential to serve as a platform therapy across multiple neurodegenerative diseases.
Early preclinical data in ALS/MND and Huntington’s disease support our belief in the broad therapeutic applicability
of NUZ‑001.
NUZ‑001 Mechanism of Action
Stressor
TDP‑43
TDP‑43 Aggregation
Stathmin‑2
Lead Program: NUZ‑001
Indication:
Amyotrophic Lateral Sclerosis (ALS)
– the most common form of Motor
Neurone Disease (MND)
Mechanism
of Action:
NUZ‑001 targets shared pathological
mechanisms – including TDP‑43
protein aggregation, impaired
autophagy, and STMN2 loss
Trials:
Successfully completed Phase 1 MEND
trial and Open‑Label Extension studies
in Australia
TDP-43
NUZ‑001 and NUZ‑001
Sulfone dose‑dependent
reduces the aggregation
of TDP‑43 and helps
restore functional activity
in M337V Motor Neurons
derived from hiPSCs in
co‑cultured in response
to a stressor.
TDP‑43
Lysosome
Autophagy
Investigating the effects
of NUZ‑001 and NUZ‑001
Sulfone on autophagic flux
and their ability to restore
STMN2 loss in M337V
Motor Neurons derived
from hiPSCs in co‑cultured
in response to a stressor.
TPD‑43 = Transactive response DNA‑binding protein 43
hiPSCs = human induced Pluripotent Stem Cells
STMN2 = Stathmin‑2
02
Preparing to commence participation
in the HEALEY ALS Platform Trial in Q4
CY2025, pending the FDA clearance
Patient
Impact:
420,000+ affected by ALS alone
Differen
tiation:
Strong signals of safety, tolerability
and survival benefit data from Phase 1
and Open-Label Extension Studies.
Every 90 minutes, someone is
diagnosed and someone passes
away from ALS
Multi‑targeted mechanism addressing
core ALS/MND disease pathology
Potential to serve as a platform
therapy across multiple
neurodegenerative diseases
Expedited U.S. method‑of‑use patent
for NUZ‑001 in ALS/MND and other
neurodegenerative diseases valid
until 2041
De‑risked regulatory pathways
enabling accelerated commercial
readiness for NUZ‑001
Neurizon Therapeutics Annual Report 2025
A Clear Strategic Focus
Neurizon’s FY25 activities were shaped by a clear, patient‑driven strategy designed to deliver maximum clinical,
commercial, and patient impact. Underpinning our decisions is a long‑term mission: to deliver next‑generation
treatments that make a real difference in the lives of people affected by neurodegenerative diseases.
Our three pillars of progress
1
Advancing
patient access
This year, we moved closer
to making NUZ‑001 available
to those who need it most.
We completed our Phase 1
and Open‑Label Extension
studies, secured Orphan
Drug Designation in the U.S.,
and started preparations for
Australia’s Special Access
Scheme. Each step brings
us closer to delivering an
innovative therapy to patients
and families facing the urgent
reality of ALS/MND.
2
3
Accelerating
hope
We are on the cusp of joining
the HEALEY ALS Platform Trial
– one of the most innovative
ALS/MND research
collaborations in the world.
With Pharmacokinetic
studies completed, Clinical
Hold Complete Response
submitted to the FDA,
and our Regimen Specific
Appendix finalised, we
are ready to move quickly
once the IND is opened.
For patients who cannot
afford to wait, every day
we save matters.
Unlocking
potential
ALS/MND is just the
beginning. This year, new
preclinical findings reinforced
the potential of NUZ‑001
as a platform therapy across
multiple neurodegenerative
diseases by targeting shared
disease drivers such as
TDP‑43 aggregation, impaired
autophagy, and STMN2 loss.
By expanding the reach of
our science, we aim to bring
hope to even more patients
living with devastating,
neurodegenerative diseases.
Partnership Ecosystem
Research
and Clinical
Manufacturing
and Development
Advocacy and Patient
Communities
•
•
Ncardia
•
•
•
•
•
•
NEALS Consortium
•
•
•
•
Massachusetts General
Hospital
Berry Consultants
Elanco Animal Health
Catalent
MND Australia
FightMND
I AM ALS
ALS Association
University of Queensland
Tessara Therapeutics
Neurizon Therapeutics Annual Report 2025
03
Chairman’s Letter
Dear fellow shareholders,
I am pleased to present
Neurizon Therapeutics Limited’s
2025 Annual Report, which highlights
significant momentum in our mission
to advance the delivery of science-led
neurodegenerative disease treatments.
At the core of our purpose is an unchanging reality –
neurodegenerative diseases are far-reaching and
debilitating, and those affected do not have time to wait.
For this reason, the Company approached the year with
considerable urgency, achieving multiple milestones.
These included key advancements in our regulatory
and clinical development strategy, preclinical work
which deepened the level of scientific confidence
for our treatment portfolio, and ongoing preparations
for late-stage development to establish commercial
readiness for NUZ-001, our lead asset currently anchored
in the treatment of Amyotrophic Lateral Sclerosis (ALS),
the most common form of Motor Neurone Disease (MND).
The strength of our clinical foundation and increased
level of scientific confidence is best evidenced through
the successful completion of our Phase I trial and
Open-Label Extension study using NUZ-001, leaving the
company well-positioned to participate in the HEALEY
ALS Platform Trial in Q4 this year. This platform will
provide a globally recognised, patient-centric and
capital-efficient pathway to the delivery of Phase 2
data – the next key step in our clinical development
pathway, prior to broader commercialisation opportunities.
Our clinical program was complemented by the consistent
delivery of strong preclinical results throughout the year.
These detailed work programs allowed Neurizon to
advance our understanding of the NUZ-001 compound’s
mechanism of action, identified a number of potential
biomarkers to support patient stratification and response
monitoring, and progressed on our objective to expand
the indication expansion beyond ALS/MND to include
other neurogenerative diseases.
04
Sergio Duchini
Non-Executive Chairman
Neurizon Therapeutics
Limited
These efforts not only enhanced the commercial
potential of our lead program but also laid the
groundwork for future clinical opportunities in
related neurodegenerative diseases.
Commercial readiness remained a key area of
focus during the period, and the Company delivered a
defining achievement post year-end through a strategic
licensing agreement with Elanco Animal Health (Elanco).
Announced in early July, this agreement provides
Neurizon with exclusive global rights to the active
compound in NUZ-001, along with access to an
extensive package of non-clinical data and
manufacturing intellectual property supporting
its ongoing development.
From a regulatory standpoint, the Company executed
to a high standard in its engagement with the US Food
and Drug Administration (FDA) after our lead asset was
placed on a clinical hold in January. Under the leadership
of Managing Director and CEO, Dr Michael Thurn,
Neurizon approached these discussions with urgency
and integrity, delivering two expedited pharmacokinetic
studies ahead of schedule and within budget. These
efforts culminated in an important milestone in July,
when the FDA issued a written endorsement of the
Company’s strategy, which positions Neurizon to advance
our clinical and commercialisation pathway for NUZ-001
for the second half of this year.
Concurrently, Neurizon continued its transition to
later-stage development and during this process, built
further trust with patients, clinicians and other key
stakeholders. Alongside this, our organisation grew in size
and capability, with talented personnel now in place to
manage global clinical execution, regulatory interactions,
and manufacturing scale-up in quick succession.
Neurizon Therapeutics Annual Report 2025
We are continually inspired
by the courage, resilience, and
determination of the ALS/MND
patient and carer community.
Their lived experience brings
urgency to our mission and
clarity to our purpose.
This would not be possible if it were not for Dr Michael
Thurn’s clarity, integrity, and tireless commitment to our
vision. I would also like to thank the executive team for
building operational strength while preserving our
values-led and patient-focused culture.
We are continually inspired by the courage, resilience,
and determination of the ALS/MND patient and carer
community. Their lived experience brings urgency to our
mission and clarity to our purpose. It is their strength that
fuels our commitment to scientific progress and reminds
us why our work matters. Every step we take toward
delivering a therapy is driven by the hope of making
a meaningful difference in their lives.
I would also like to extend my thanks and
acknowledgement to my fellow Directors, for their
expertise, strategic guidance, collaborative spirit
and commitment to advancing our mission.
Neurizon Therapeutics Annual Report 2025
To our investors and key stakeholders – thank you.
Your continued support and belief in our science have
enabled this progress. We do not take your support for
granted. Together, we will advance next-generation
treatments for ALS/MND and other neurodegenerative
diseases – offering hope in an area of profound
unmet need.
Yours sincerely,
Sergio Duchini
Non-Executive Chairman
Neurizon Therapeutics Limited
05
Key Highlights
This year, Neurizon advanced on multiple fronts – from clinical and regulatory
achievements to strategic partnerships and patient‑focused innovations.
We strengthened the foundation for the global development of NUZ-001, secured
pathways to accelerate FDA approval, and delivered progress across science,
manufacturing, intellectual property, and community engagement. Together, we are
moving closer to making treatments a reality for people living with ALS/MND and other
neurodegenerative diseases.
Rebrand to Neurizon Therapeutics
A new identity that reflects our patient-centric mission
and unwavering focus on advancing next-generation
treatments for neurodegenerative diseases.
Orphan Medicinal Product
Designation (EMA)
Granted Orphan Medicinal Product Designation by the
EMA for NUZ-001 in ALS, providing 10 years of market
exclusivity in Europe upon the approval and reinforcing
global regulatory and commercial positioning.
Grant of “Method of Use” Patent
until 2041
Expedited grant of ‘method of use’ patent for NUZ‑001
by the United States Patent & Trademark Office
(USPTO). US patent protection for NUZ‑001 and
structurally related compounds for neurodegenerative
diseases/cancer now extends to 2041.
Global Licence Agreement
with Elanco
Exclusive global licence agreement with Elanco
Animal Health (NYSE:ELAN) for the rights to the active
pharma ingredient in NUZ‑001, aiding commercialisation
pathway provides Neurizon with access to Elanco’s
comprehensive data set to support future
regulatory submissions.
Inclusion in the HEALEY ALS
Platform Trial
Lead asset, NUZ‑001, selected for inclusion in the
HEALEY ALS Platform Trial across +70 clinical sites in
the US. Provides framework for independent validation
of the potential of NUZ‑001 as a treatment for ALS/MND
and accelerates the path to FDA approval.
Completion of Phase 1 MEND
and Open Label Extension Studies
The top line study results for 10-patient group – who
all completed the earlier Phase 1 MEND Study – further
demonstrate the long-term safety and efficacy signals
of the treatment of ALS/MND with NUZ-001, building
on interim findings that confirmed robust survival
and functional benefits.
Development of Oral Liquid
Formulation of NUZ‑001
Successful development of a new oral liquid formulation
of NUZ‑001 for the treatment of ALS/MND, designed to
support patients with all stages of ALS/MND, particularly
those with swallowing. Developed as part of Neurizon’s
patient‑centric innovation strategy, the liquid form
enhances continuation of treatment, ease of
administration, and overall treatment experience
for patients with ALS.
Preclinical Advances Supporting
Platform Potential
Preclinical studies strengthened the scientific foundation
for NUZ‑001 as a platform therapy beyond ALS/MND,
demonstrating brain penetration, significant reduction
of TDP‑43 aggregation, restoration of neuronal survival
factors, and protection against multiple pathways of
neurodegeneration. These findings, showcased at leading
international conferences, reinforce NUZ‑001’s potential
to address a broad range of neurodegenerative diseases.
06
Neurizon Therapeutics Annual Report 2025
MD & CEO Letter
This past year marked a period
of substantial operational progress
and strategic evolution for Neurizon
Therapeutics, as we advanced our mission
to deliver next‑generation treatments
that make a real difference in the lives
of people affected by neurodegenerative
diseases – with a primary focus on
Amyotrophic Lateral Sclerosis (ALS),
the most common form of Motor
Neuron Disease (MND).
Our lead drug candidate, NUZ‑001, made meaningful
advances across manufacturing, preclinical, clinical, and
regulatory fronts – validating our development strategy
and reinforcing confidence in its potential to address
the urgent unmet needs of the ALS/MND community.
Importantly, topline results from the Open-Label Extension
(OLE) study demonstrated long-term safety and efficacy
signals, further supporting the potential of NUZ-001 as
a disease-modifying therapy.
In the second half of the year, we focused on executing
a proactive and collaborative regulatory strategy to lift
the U.S. FDA clinical hold on NUZ‑001. We completed
additional preclinical studies, advanced an oral liquid
formulation to enhance patient access, refined our
Regimen Specific Appendix for the HEALEY ALS Platform
Trial, and submitted a comprehensive Complete Response
to the FDA shortly after year‑end. These efforts position
us to commence participation in the HEALEY Trial in
the December quarter, pending FDA clearance.
Our development pathway was further strengthened
by the grant of an expedited U.S. method‑of‑use patent
for NUZ‑001, securing protection for its use in ALS and
other neurodegenerative diseases through to 2041.
Post year‑end, we further de‑risked our program by
signing an exclusive global licence agreement with
Elanco Animal Health for NUZ‑001, ensuring ongoing
access to pivotal animal safety data and securing
long‑term supply at scale to support near‑term regulatory
and commercial activities. Positive written feedback
from the FDA on our IND strategy reinforces the clarity
of our pathway to commencing the regimen in the
HEALEY ALS Platform Trial and progressing toward
potential accelerated regulatory approval.
Dr Michael Thurn
Managing Director
& Chief Executive Officer
These achievements reflect Neurizon’s unwavering
commitment not only to scientific excellence but
also to the people who inspire our work – those living
with ALS/MND, their families, and carers. This year,
we deepened our community engagement through
fundraising events, scientific conference participation,
and sponsorship of MND Australia’s landmark economic
burden report “Every Moment Matters”. We remain
committed to building trust and momentum across
all stakeholder groups as we progress.
Looking ahead, our immediate priorities are:
•
•
Securing FDA clearance to lift the clinical hold.
•
Continuing to explore the potential of NUZ‑001
beyond ALS/MND, informed by emerging preclinical
evidence of its broader neuroprotective mechanism.
Commencing the HEALEY ALS Platform Trial
in Q4 CY2025.
These steps are essential in our mission to deliver NUZ‑001
as a potential first‑in‑class therapy and to maximise
long‑term value for patients, partners, and shareholders.
None of this would be possible without the extraordinary
dedication of our team. I extend my sincere thanks to our
staff, scientific collaborators, clinical partners, and Board.
To our shareholders – thank you for your continued
trust and belief in our vision. We look forward to sharing
further progress as we work to bring forward a new
horizon in neurodegenerative disease treatment.
Yours Sincerely,
Dr Michael Thurn
Managing Director and Chief Executive Officer
Neurizon Therapeutics Annual Report 2025
07
Contents
09
Directors’ report
35
Consolidated Statement of cash flows
19
Remuneration report (audited)
36
Notes to the financial statements
31
Auditor’s independence declaration
60
Consolidated entity disclosure statement
32
Consolidated Statement of profit or loss
and other comprehensive income
61
Directors’ declaration
33
62
Independent auditor’s report
Consolidated Statement of financial
position
66
Shareholder information
34
Consolidated Statement of changes
in equity
70
Corporate directory
08
Neurizon Therapeutics Limited / Directors’ report
30 June 2025
The directors present their report, together with the financial statements, on the consolidated entity (referred to hereafter as the ‘consolidated
entity’ or ‘Group’) consisting of Neurizon Therapeutics Limited (referred to hereafter as the ‘Company’ or ‘parent entity’ or ‘Neurizon’) and the
entities it controlled at the end of, or during, the year ended 30 June 2025.
Directors
The following persons were directors of Neurizon Therapeutics Limited during the whole of the financial year and up to the date of this report,
unless otherwise stated:
Mr Sergio Duchini
Dr Michael Thurn
Mr Marcus Hughes
Dr Katie MacFarlane
Non-Executive Chairman
Managing Director and Chief Executive Officer
Non-Executive Director
Non-Executive Director
Principal activities
The principal activity of Neurizon Therapeutics Limited and the entities it controlled during the year was the development of its own drug
discovery intellectual property for the treatment of neurological diseases.
Dividends
There were no dividends paid, recommended or declared during the current or previous financial year.
Review of operations
The loss for the consolidated entity after providing for income tax amounted to $16,593,619 (30 June 2024: $7,673,153).
Neurizon Therapeutics Limited (“Neurizon” or “the Company”), is a clinical-stage biotech company dedicated to advancing treatments for
neurodegenerative diseases. Neurizon is focused on developing its lead drug candidate, NUZ-001, for the treatment of Amyotrophic Lateral
Sclerosis (ALS), which is the most common form of Motor Neurone Disease (MND).
Neurizon’s business strategy is to accelerate patient access to effective ALS/MND therapies while exploring the potential of NUZ-001 for broader
neurodegenerative applications.
In FY2025, Neurizon achieved significant progress across intellectual property, manufacturing, preclinical, clinical, and regulatory activities.
These milestones were accompanied by a strategic repositioning of the Company, a sharpened focus on bringing NUZ-001 to market for ALS/
MND, and key management appointments to strengthen commercialisation capability.
Strategic Repositioning and Company Name Change:
In October 2024, shareholders approved a name change from PharmAust Limited to Neurizon Therapeutics Limited, reflecting a commitment
to neurodegenerative disease research. The Company’s new name was subsequently registered with the Australian Securities and Investments
Commission (ASIC).
Following this, Neurizon refined its development strategy to align to three key pillars:
Pillar 1 – Advancing patient access to innovative ALS/MND treatments
Pillar 2 – Advancing hope by partnering with the world’s leading neurologists at Mass General’s HEALEY ALS Platform Trial
Pillar 3 - Unlocking the potential of NUZ-001 to treat the range of neurodegenerative diseases
Clinical, Regulatory Progress and Preclinical scientific development:
During the period, Neurizon’s clinical development pathway was led by advancements in its preparations for participation in the HEALEY ALS
Platform Trial, where NUZ-001 was selected for inclusion based on Phase 1 MEND study results.
In September 2024, the Company completed a pre-submission meeting with the European Medicines Agency (EMA) and the Committee for
Orphan Medicinal Products (COMP) and submitted a request for Orphan Medicinal Product Designation (OMPD) for NUZ-001 for the treatment
of ALS/MND. A positive opinion on this was received shortly thereafter, with the designation being officially granted in December 2024.
OMPD provides a robust framework of benefits, including reduced regulatory fees, free protocol assistance, and market exclusivity for 10
years in the European Union upon product approval. During this exclusivity period, similar medicinal products will not be eligible for marketing
authorisation in the same indication, offering a substantial commercial advantage for NUZ-001.
In December 2024, after submitting an Investigational New Drug (IND) application for NUZ-001, the US Food and Drug Administration (FDA)
placed the IND on Clinical Hold in January 2025, which led to the Company actioning a number of initiatives to address the regulator’s concern
and enable ongoing commercialisation of NUZ-001.
During the second half of the financial year, Neurizon continued to engage directly with the FDA and directed workstreams to generate robust
scientific evidence to support the broad therapeutic potential of NUZ-001.
09
Neurizon Therapeutics Limited / Directors’ report
30 June 2025
Preclinical studies conducted during the period demonstrated that both NUZ-001 and its major active metabolite, NUZ-001 Sulfone, effectively
penetrate the brain and reduce the aggregation of TDP-43, a protein linked to ALS/MND and other neurodegenerative diseases. These studies
showed that it was possible to deliver therapeutic levels of NUZ-001 and its major active metabolite to the central nervous system.
Further research indicated that NUZ-001 may act through multiple pharmacological mechanisms, providing further justification for its
development as a platform therapy for multiple neurodegenerative conditions. In a zebrafish model of Huntington’s disease, NUZ-001 restored
Brain Derived Neurotrophic Factor (BDNF), a neuronal growth and survival factor typically reduced in the disease, highlighting the therapeutic
potential of NUZ-001.
Collaborative efforts with the University of Queensland revealed that NUZ-001 improved the survival of motor neurons exposed to TDP-43
toxicity without altering autophagy markers, suggesting alternate protective mechanisms. These findings were showcased at the AD/PD 2025
International Conference in Vienna, alongside new data from Tessara Therapeutics. Using the RealBrain® 3D human micro-tissue model, Tessara
demonstrated that NUZ-001 improved neuronal viability and connectivity and offered partial protection against ferroptosis, a form of cell death
implicated in neurodegeneration. Additional preclinical validation conducted with Ncardia confirmed that NUZ-001 and its sulfone metabolite
reduced TDP-43 aggregation by ~50–55% and rescued electrophysiological dysfunction in human iPSC-derived motor neurons, further
supporting its disease-modifying potential.
These results build upon earlier preclinical work, including in vitro studies using induced pluripotent stem cell (iPSC)-derived motor neurons,
which confirmed the ability of NUZ-001 to prevent TDP-43 aggregation and improve electrophysiological dysfunction.
Collectively, these findings provide a strong scientific rationale for continued clinical development, which remains a key area of focus.
Prior to the end of the period, Neurizon received positive written feedback on its strategy to resolve the FDA’s Clinical Hold. Subsequently, a
comprehensive Clinical Hold Complete Response (CHCR) was submitted post-balance date, representing a significant step towards reactivation
of the IND and inclusion in the HEALEY trial.
In August, the FDA advised that, due to agency-wide restructuring and resourcing constraints, the review period has been extended, with
a decision now expected by 3 October 2025. While this delay is beyond the standard statutory timeframe, it does not reflect the quality or
completeness of Neurizon’s submission. In the meantime, the company is actively engaging with leading key opinion leaders, the HEALEY ALS
Platform Trial team, and patient associations to explore opportunities to expedite review, reflecting the urgency of advancing access to potential
treatments for people living with ALS/MND.
Alongside the steps taken to lift the Clinical Hold, Neurizon continued to make significant strides across NUZ-001’s clinical program. Most
recently, the Company reached a major milestone with the final patient completing the 12-month Open Label Extension (OLE) study. Interim data
from the study confirmed that NUZ-001 remains well-tolerated and continues to show promising signals in extending life expectancy in patients
with ALS/MND. The top line results have been released on August 20, further demonstrating the long-term safety and efficacy signals of the
treatment of ALS/MND with NUZ-001, building on interim findings that confirmed robust survival and functional benefits.
The OLE study was an open-label, safety, tolerability, and preliminary efficacy study of NUZ-001 in 10
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