AbbVie Backs Nxera Pharma With $10 Million For Milestone Achievement In Neurological R&D

Nxera Pharma Co. Ltd (TSE: 4565) has announced a significant achievement in its research and development efforts as part of its collaboration with AbbVie, focused on neurological diseases. This milestone has triggered a payment of $10 million to Nxera. The collaboration, established in 2022, aims to utilize Nxera's NxWave™ platform to identify, develop, and commercialize new treatments targeting novel G protein-coupled receptor (GPCR) targets linked to neurological conditions. As per the agreement, Nxera stands to receive up to $40 million in immediate research milestones, with additional potential option, development, and commercial milestones that could total up to $1.2 billion, along with 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.”