Nxera Pharma to Receive US$10 Million Milestone Payment from AbbVie under Collaboration Targeting Neurological Diseases [Yahoo! Finance]
AbbVie Inc. (ABBV)
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Source: Yahoo! Finance
Under the terms of the agreement, Nxera is eligible to receive up to US$1.2 billion in potential option, development and commercial milestones, in addition to tiered royalties based on sales Tokyo, Japan and Cambridge and London, UK, 20 April – Nxera Pharma Co., Ltd. (“Nxera” or “the Company”; TSE 4565) announces that it has reached a third R&D milestone under its multi-target discovery collaboration with AbbVie focused on neurological diseases, resulting in a payment of US$10 million to Nxera. Nxera and AbbVie entered this multi-target collaboration in 2022 to leverage Nxera's NxWave™ platform to discover novel medicines targeting G protein-coupled receptors (GPCRs) associated with neurological disease. This current milestone relates to the identification of validated and differentiated ‘hit' molecules against a neurology target. 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 opt
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