Nxera Pharma Receives $10 Million From AbbVie as Collaboration Targeting Neurological Diseases Achieves First R&D Milestone
Nxera Pharma Co. Ltd recently announced it has reached an important R&D milestone under its multi-target discovery collaboration with AbbVie targeting neurological diseases, resulting in a payment of $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 $40 million in near-term research milestones, as well as further potential option, development, and commercial milestones totaling up to $1.2 billion, plus tiered royalties on global sales.
Stacey Southall, VP Platform Technology at Nxera Pharma, said “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.”
Nxera Pharma (formerly Sosei Heptares) is a technology powered biopharma company, in pursuit of new specialty medicines to improve the lives of patients with unmet needs in Japan and globally. In addition to several products being commercialized in Japan, we are advancing an extensive pipeline of over 30 active programs from discovery through to late clinical stage internally and in partnership with leading pharma and biotech companies. This pipeline is focused on addressing major unmet needs in some of the fastest-growing areas of medicine across neurology, GI and immunology, metabolic disorders and rare diseases, and leverages the power of our unique and industry leading GPCR-targeted structure-based drug discovery NxWave platform to provide a sustainable source of best- or first-in-class candidates.
Nxera employs over 350 talented people at key locations in Tokyo and Osaka (Japan), London and Cambridge (UK), Basel (Switzerland) and Seoul (South Korea) and is listed on the Tokyo Stock Exchange (ticker: 4565). For more information, visit www.nxera.life.
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