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NeuroScientific BIOPHARMACEUTICALS ASX ANNOUNCEMENT ■ MARCH 2021 QUARTERLY ACTIVITY REPORT Ocular PK study and 4 - week ocular tolerance and safety study completed Scale - up of manufacturing process completed Key Executive appointments Strong investor support for exercise of listed options Perth , Australia ; 30 April 2021. NeuroScientific Biopharmaceuticals Ltd ASX : NSB ( " NeuroScientific " or " the Company ” ) today submitted its Appendix 4C and quarterly activity report for the period ended 31 March 2021 . During the March quarter , NeuroScientific significantly advanced its preclinical R & D programs involving EmtinB , with the completion of pivotal ocular studies , completion of a major manufacturing milestone and the expansion of its executive management team in readiness for starting clinical development in 2021. The Company also experienced strong support for the exercise of its NSBO listed options before their expiry in early March and is well - funded going forward with more than $ 15 million cash on hand . The Company completed a number of pivotal preclinical ocular studies during the quarter , including ocular pharmacokinetic ( PK ) and tissue distribution studies in rabbits and a 4 - week ocular tolerance and safety study in non - human primates . Processing and analysis of samples is yet to be completed for these studies and NeuroScientific will provide further information in separate announcements upon receiving results which are expected within the coming weeks . Additionally , a significant manufacturing milestone was achieved with the completion of process improvement and scale - up of the solid phase manufacturing process for EmtinB for clinical GMP grade batch production of the drug candidate . In preparation for the Company's transition from preclinical to clinical development in 2021 , two key executive appointments were made during the quarter . Dougal Thring was appointed as Vice President of Clinical Development and Dr Alexandra Heaton as Director of Operations . Dougal is a highly experienced clinical trials professional and previously held the position of Head of Clinical Solutions at Linear Clinical Research Ltd. Dr Heaton holds a PhD in neuroscience and is experienced in managing clinical programs . Also , during the March quarter investors exercised 54.5 million NSBO options , equating to more than 93 % of NSBO listed options being exercised before the expiry date of 7 March 2021. As a result , the Company is well - funded going forward , with a current cash position of approximately $ 15 million . The additional funds will allow the Company to comfortably complete a Phase I ocular clinical study in glaucoma patients and a Phase I first - in - human clinical study in healthy volunteers for neurology indications .