Nxera Pharma receives $10m milestone payment from AbbVie collaboration

Nxera Pharma Co. has announced it will receive a $10 million milestone payment from AbbVie, stemming from their multi-target discovery collaboration focused on neurological diseases. This payment follows the identification of validated and differentiated 'hit' molecules targeting a neurological pathway. This marks the second milestone achieved in the collaboration, with the first received in June 2024.

Under the terms of the agreement, Nxera is eligible for up to $40 million in near-term research milestones, along with further potential option, development, and commercial milestones totalling up to $1.2 billion, plus tiered royalties on global sales. The milestone payment will be recognized in the third quarter of 2025.

Nxera Pharma employs approximately 400 talented people across key locations in Tokyo, Osaka, London, Cambridge, Basel, and Seoul, leveraging its NxWave™ platform for drug discovery. The company is advancing over 30 active programs from discovery through late clinical stages, both internally and through partnerships, focusing on areas such as obesity, metabolic disorders, neurology/neuropsychiatry, immunology, and inflammation.