Nxera Pharma To Receive $4.8 Mln Milestone As Centessa Advances ORX142 To Phase 1 Study

(RTTNews) - Nxera Pharma Co., Ltd. announced it will receive US$4.8 million in milestone payments from Centessa Pharmaceuticals under their research collaboration. The payments follow Centessa's initiation of clinical development for ORX142, its second novel orexin receptor 2 (OX2R) agonist, after the FDA cleared an Investigational New Drug (IND) application for a Phase 1 study in healthy volunteers.

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.