Nxera Pharma Announces Second Milestone In AbbVie Neurology Collaboration, Secures $10 Mln Payment

(RTTNews) - Nxera Pharma Co., Ltd. (SOLTF, 4565.T) announced it has reached a second milestone in its multi-target discovery collaboration with AbbVie focused on neurological diseases. This milestone, tied to the identification of validated and differentiated hit molecules against a neurology target, triggers a payment of US$10 million to Nxera, which will be recognized in the third quarter of 2025.

Established in 2022, the collaboration leverages Nxera's NxWave platform to discover novel therapeutics targeting G protein-coupled receptors (GPCRs) associated with neurological conditions.

Under the agreement, Nxera is eligible to receive up to US$40 million in near-term research milestone payments, in addition to potential option, development, and commercial milestones totaling up to US$1.2 billion, plus tiered royalties on global sales.

This is the second milestone reached under the collaboration, following the first milestone in June 2024.