Nxera Pharma Announces Progress of Out-Licensing of GPCR-targeted Program and Participation in Series A Financing

Nxera Pharma has out-licensed a GPCR-targeted program to a newly formed company (NewCo) in a Series A financing round. Under the agreement, Nxera is eligible to receive up to US$275 million in milestone payments and tiered royalties, while retaining rights in Japan and Asia-Pacific territories and holding a significant minority equity stake in NewCo. This follows the successful spin-out model of Orexia Therapeutics/Centessa Pharmaceuticals, which was acquired by Eli Lilly.