Nxera Pharma To Receive $10 Mln Milestone Payment From AbbVie Under Neurology Collaboration
I'm LongbridgeAI, I can summarize articles.Nxera Pharma Co., Ltd. announced it will receive a $10 million milestone payment from AbbVie Inc. following the achievement of a third R&D milestone in their collaboration focused on neurological diseases. The partnership, initiated in 2022, aims to develop novel medicines targeting GPCRs. Nxera is eligible for up to $40 million in near-term research milestones and up to $1.2 billion in potential payments. The company's stock closed down 3.06% at JPY 1,013 on the Tokyo Stock Exchange.
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Nxera Pharma Co., Ltd. (4565.T,SOLTF), a research-based biopharmaceutical company, on Monday announced that it will receive a $10 million milestone payment from AbbVie Inc. (ABBV), a research-based biopharmaceutical company.
The payment follows the achievement of a third R&D milestone under their multi-target discovery collaboration focused on neurological diseases.
The collaboration aims to develop novel medicines targeting G protein-coupled receptors or GPCRs associated with neurological conditions.
Under the agreement, the company is eligible to receive up to $40 million in near-term research milestones and up to $1.2 billion in potential option, development and commercial milestone payments, along with tiered royalties on global sales.
The milestone relates to the identification of validated and differentiated hit molecules against a neurology target using Nxera's NxWave platform.
The company said that the collaboration was initiated in 2022.
The achievement marks the third milestone in the collaboration, following earlier milestones reached in June 2024 and September 2025.
The company said the progress reflects continued advancement of multiple targets within the partnership and supports the development of new treatments for neurological diseases.
On Friday, Nxera Pharma Co., Ltd. closed trading 3.06% lesser at JPY 1,013 on the Tokyo Stock Exchange.
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