I'm LongbridgeAI, I can summarize articles.Nxera Pharma received a $10 million milestone payment from AbbVie for achieving the fourth R&D milestone in their neurological disease collaboration. This brings total payments to $40 million. Nxera remains eligible for up to $1.2 billion in additional milestones and royalties under the agreement established in 2022.
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Nxera Pharma Co., Ltd. (SOLTF) on Tuesday said it received a $10 million milestone payment from AbbVie (ABBV) after achieving a fourth R&D milestone under their multi-target drug discovery collaboration focused on neurological diseases.
The companies partnered in 2022 to discover GPCR-targeting medicines for neurological diseases using Nxera's NxWave platform. The milestone was triggered by the identification of validated and differentiated hit molecules against a neurology target.
With the latest payment, Nxera has received $40 million from AbbVie across four R&D milestones.
Under the agreement, Nxera is also eligible to receive potential option, development and commercial milestone payments totaling up to $1.2 billion, in addition to tiered royalties on global sales.
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