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Nxera to Get $10 Million Milestone Pay as Partner Neurocrine Advances Alzheimer's Drug to Mid-Stage

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Nxera Pharma's (TYO:4565) will receive $10 million after partner Neurocrine Biosciences won U.S. regulatory approval for a mid-stage Alzheimer's drug study.

The drug, discovered using Nxera's proprietary platform, is an oral treatment designed to target cognition in Alzheimer's patients, according to a Tokyo bourse filing on Wednesday.

This is the third compound from the partnership to reach Phase 2 testing, with the first already in late-stage trials and a second also progressing through mid-stage studies.

Nxera keeps the rights to develop and sell the drug in Japan.

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