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NeuroScientific BIOPHARMACEUTICALS ASX ANNOUNCEMENT DECEMBER 2020 QUARTERLY ACTIVITY REPORT Pivotal preclinical ocular safety and toxicity studies commended and scale- up of manufacturing for Phase I clinical study Completion of $ 2.4M strategic placement with international investment group AlphaSwiss Collaborative research project with The Institute for Respiratory Health and UWA involving the treatment of COVID - 19 lung fibrosis Strong cash position to initiate Phase I clinical study Perth , Australia ; 29 January 2021. NeuroScientific Biopharmaceuticals Ltd ASX : NSB ( " NeuroScientific " or " the Company " ) today submitted its Appendix 4C and quarterly activity report for the period ended 31 December 2020 . During the December quarter , NeuroScientific continued to progress preclinical development of its lead drug candidate EmtinB with the commencement of pivotal ocular safety and toxicity studies , advances in manufacturing to support clinical development , and a new collaborative research project to investigate the treatment of post - COVID lung fibrosis . The Company also completed a strategic placement from international investment group AlphaSwiss Partners SA which raised $ 2.4 million in additional funds . NeuroScientific significantly progressed its safety and toxicity programs for both ocular and neurodegenerative indications during the quarter . A number of pivotal safety studies involving the ocular program were commenced and are scheduled for completion before the end of the March quarter . Impressively , the highest dose levels of EmtinB , at approximately three times that of the planned maximum clinical dose , have not resulted in any ocular safety issues . Manufacturing process improvement and scale - up of EmtinB for Phase I clinical studies also continued throughout the quarter . NeuroScientific partnered with The Institute for Respiratory Health and The University of Western Australia for a collaborative project to investigate the effectiveness of EmtinB , and other Emtin peptides , in the treatment of post - COVID lung fibrosis . EmtinB is modelled on the ẞ - domain of human metallothionein - II ( MT - II ) , a protein that is part of the innate immune response to tissue injury in the brain , eye , heart , and lungs . MT - II has been shown to protect against injury , inflammation and fibrosis in lung tissue and this study will explore if EmtinB and related peptides have a similar effect in lung tissue . Of relevance to this research project is a recently published article which found that a third of patients discharged from hospital following recovery from COVID - 19 were readmitted within five months , indicating the significant long - term burden of COVID - related morbidity on healthcare systems globally . While COVID vaccines will significantly impact rates of infection , this study highlights the fundamental need for effective treatments of post - COVID complications in recovered patients . 1 Ayoubkhani , D et al . 2021 , Epidemiology of post - COVID syndrome following hospitalisation with coronavirus : a retrospective cohort study . Med Rxiv 2021.01.15.21249885 ; https://doi.org/10.1101/2021.01.15.21249885