Nxera Pharma earns $15m payment as first patient in schizophrenia drug trial is dosed by Neurocrine Biosciences

Granta Park-based Nxera Pharma has received a $15million milestone payment after its partner, Neurocrine Biosciences, dosed the first patient in a phase III study of a potential schizophrenia therapy.

The double-blind, placebo controlled study is expected to enroll about 280 patients.

It will evaluate NBI-1117568 - an oral, muscarinic M4 selective receptor agonist - in adults with a primary diagnosis of schizophrenia who are experiencing an acute exacerbation or relapse of symptoms.

It is the most advanced candidate from a portfolio of muscarinic agonists discovered by Nxera, licensed to Neurocrine and advancing through clinical development.

When the trial was initiated last month, Nxera president and CEO Chris Cargill said: “These candidates were designed using our NxWave platform with specific attributes to address the complex needs of patients with neuropsychiatric disorders, who remain hugely underserved by current treatment options.

“The expertise and commitment that Neurocrine has demonstrated in progressing NBI-’568 to this advanced stage and to our partnership as a whole has been inspirational.”