Nxera Pharma to receive $35 million from Neurocrine

2 September 2024

Japan’s Nxera Pharma (TYO 4565) today announced that it will receive a $35 million payment from Neurocrine Biosciences (Nasdaq: NBIX),triggered by the successful completion of the Phase II trial with NBI-1117568(NBI-‘568) in adults with schizophrenia.

Receipt of the $35 million payment will be recognized as one-time revenue in the third quarter of 2024, said Nxera, formerly known as Sosei Group.

The dose-finding study met its primary endpoint for the once-daily 20mg dose and was generally safe and well tolerated at all doses studied, supporting Neurocrine’s intentions to advance NBI-‘568 into Phase III clinical trials in early 2025

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