Nxera Pharma Secures $10 Million Milestone with AbbVie
Nxera Pharma Secures $10 Million Milestone with AbbVie
Tokyo, Japan and Cambridge and London, UK – Nxera Pharma Co., Ltd. (TSE: 4565) has announced a significant milestone achievement in its collaboration with AbbVie, receiving a payment of $10 million. This milestone marks a pivotal moment in their ongoing partnership aimed at developing innovative therapies for neurological conditions.
Collaboration Overview
In 2022, Nxera and AbbVie initiated their collaboration to harness the capabilities of Nxera’s NxWave™ platform. The focus of their joint efforts is to identify new therapeutic candidates targeting G protein-coupled receptors (GPCRs) linked to various neurological diseases. The current milestone was achieved through the validation of promising ‘hit’ molecules that are essential in the project targeting neurological issues.
Future Potential
Under the collaboration agreement, Nxera stands to gain tremendous financial incentives, with the potential to earn up to $40 million in upcoming research milestones alone. This is in addition to a possible $1.2 billion through various option, development, and commercial milestones, accompanied by tiered royalties from global sales. Following the initial milestone achieved earlier, this second achievement underscores the fruitful nature of their partnership.
Insights from Leadership
Dr. Matt Barnes, the Chief Scientific Officer and President of Nxera Pharma UK, expressed enthusiasm regarding this milestone. He emphasized the significance of this achievement and the dedicated collaboration between Nxera and AbbVie. Underlining the capabilities of the NxWave™ platform, he remarked on how it allows the teams to innovate and advance new molecules aimed at modulating targets related to neurological diseases.
Prospects Ahead
Looking ahead, the financial implications of this milestone will be realized in the third quarter of 2025. The Company remains optimistic about future collaborations and advancements within its pipeline.
About Nxera Pharma
Nxera Pharma is a biopharmaceutical company dedicated to the development of innovative specialty medicines aimed at addressing unmet medical needs globally. The firm is committed to creating effective new treatments across various therapeutic areas, particularly focused on neurology, obesity, metabolic disorders, and immunology.
With a robust pipeline consisting of over 30 active programs, Nxera leverages its proprietary NxWave™ technology to drive drug discovery and development. The Company is proud to be at the forefront of biopharma innovation in Japan and the broader APAC region, employing around 400 professionals across primary locations.
Global Impact
Nxera’s strategy includes crafting a responsive commercial entity capable of bringing innovative solutions to the market. By maintaining partnerships with leading pharmaceutical and biotech firms, Nxera aims to develop first- and best-in-class candidates that can significantly impact patient care.
For more information about Nxera Pharma, interested parties can visit their official website or follow their updates on various social media platforms.
Enquiries
For media and investor relations inquiries, individuals can contact: Shinya Tsuzuki, VP, Head of Investor Relations, or Shinichiro Nishishita, VP of Investor Relations and Head of Regulatory Disclosures. They are available for any questions at +81 (0)3 5962 5718 or +44 (0)1223 949390.
Frequently Asked Questions
What recent milestone did Nxera Pharma achieve?
Nxera Pharma received a $10 million milestone payment from AbbVie as part of their collaboration on neurological treatments.
What is the NxWave™ platform?
The NxWave™ platform is Nxera Pharma's proprietary technology utilized for the discovery of novel medicinal compounds targeting neurological diseases.
How much can Nxera Pharma potentially earn from this collaboration?
Besides the $10 million milestone, Nxera could earn up to $40 million in research milestones and an additional $1.2 billion in total potential milestones, along with royalties on sales.
What is the focus of Nxera's research?
Nxera focuses on addressing unmet medical needs in the fields of neurology, obesity, metabolic disorders, and immunology.
How many employees does Nxera Pharma have?
Nxera Pharma employs approximately 400 people across various strategic locations worldwide.
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