Nyrada (ASX:NYR) received approval from the Human Research Ethics Committee to start its first-in-human phase 1a clinical trial evaluating the safety, tolerability, and pharmacokinetics of drug candidate NYR-BI03, according to a Friday filing with the Australian bourse.

NYR-BI03 is a treatment that has the potential to protect both brain and heart tissue.

The double-blind, randomized, placebo-controlled study will administer either NYR-BI03 or placebo to five groups of eight healthy volunteers, with six active and two placebo participants per group, the filing said.

The first dosing is expected to begin by the end of March, according to the filing.

Nyrada's shares were up 5% in afternoon trade Friday.