INDIANAPOLIS (dpa-AFX) - Nxera Pharma Co., Ltd. announced that it has achieved a development milestone under its multi-target collaboration and license agreement with Eli Lilly and Co. (LLY) targeting diabetes and metabolic diseases, resulting in a payment to Nxera. The payment amount is undisclosed under the agreement with Lilly. Nxera expects to receive the milestone payment in the third quarter of the fiscal year ending December 2025.
Nxera and Lilly entered the multi-target collaboration in 2022 to leverage Nxeras GPCR-focused structure-based drug design capabilities and Lilly's extensive development, commercialization and therapeutic area expertise. Lilly will now be responsible for further development and commercialization.
As per 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.
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