Nxera Pharma Co., Ltd. (“Nxera” or “the Company”; TSE 4565) today announces that it will receive US$4.8 million in milestone payments from Centessa Pharmaceuticals pursuant to its research collaboration with Centessa. The milestones were achieved as Centessa initiated clinical development of ORX142, its second novel orexin receptor 2 (OX2R) agonist, following the recent clearance of an Investigational New Drug (IND) application by the US Food and Drug Administration (FDA) for a Phase 1 clinical study of ORX142 in healthy volunteers. (click here).

ORX142 is an investigational, novel, highly potent and selective OX2R agonist being developed by Centessa for the treatment of select neurological and neurodegenerative disorders.

Of the milestone receipt, US$1.8 million associated with the clearance of the IND will be recognized as revenue in the second quarter of 2025, and US$3.0 million associated with the initiation of clinical development will be recognized as revenue in the third quarter of 2025.