Sosei Group (JP:4565) has released an update.
Nxera Pharma, previously known as Sosei Group, is set to receive a $35 million payment from Neurocrine Biosciences following the successful Phase 2 trial of their schizophrenia treatment NBI-1117568. This milestone achievement will be recognized as revenue in the third quarter of 2024 and supports the advancement of the drug into Phase 3 trials. The company, which has a portfolio of novel muscarinic receptor agonists, stands to gain up to $2.6 billion in total from its partnership with Neurocrine, along with product royalties.
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