Tokyo, Japan and Cambridge, UK, 27 June 2024 - Nxera Pharma Co. Ltd, announces that it has reached an important R&D milestone under its multi-target discovery collaboration with AbbVie targeting neurological diseases, resulting in a payment of US$10 million to Nxera.
Nxera and AbbVie entered into this multi-target collaboration in 2022 to leverage Nxera’s NxWave™ platform to discover, develop and commercialize new medicines targeting novel G protein-coupled receptor (GPCR) targets associated with neurological disease.
Under the terms of the agreement, Nxera is eligible to receive up to US$40 million in near-term research milestones, as well as further potential option, development and commercial milestones totalling up to US$1.2 billion, plus tiered royalties on global sales.
Stacey Southall, VP Platform Technology at Nxera Pharma, commented: “The achievement of the first milestone in this collaboration is testament to the expertise and diligence of our platform technology team to deliver multiple stabilized target GPCRs (NxStaRs) to support further structure-based drug design (SBDD). Our history of collaborating with AbbVie demonstrates our highly productive working relationship and complementary capabilities, and we look forward to continuing the next stages of this project.”
