Nxera Pharma achieves development milestone in collaboration with Eli Lilly

Nxera Pharma announces that it has achieved a development milestone under its multi-target collaboration and license agreement with Eli Lilly (LLY) and Company targeting diabetes and metabolic diseases, resulting in a payment to Nxera. The payment amount is undisclosed under the agreement with Lilly. However, Nxera makes this announcement in accordance with the timely disclosure requirements as the achievement of the milestone represents significant progress in research and development for Nxera. Nxera expects to receive the milestone payment in the third quarter of the fiscal year ending December 2025. Under the terms of the agreement, Nxera is eligible to receive development and commercial milestones totalling up to US$694 million, plus tiered royalties on global sales.