Nyrada (ASX:NYR) has begun recruiting participants for the phase Ia clinical trial for the company's lead drug candidate, NYR-BI03, according to a Monday filing with the Australian bourse.

NYR-BI03 is a small molecule, first-in-class neuroprotection, and cardioprotection treatment. The trial will be a double-blind, randomized, placebo-controlled, dose-escalating study, comprising five cohorts of eight participants, the filing stated.

First participant dosing is expected before the end of March, while final phase Ia trial readouts are likely in the third quarter of the year.