Nxera Hits Important Milestone in Diabetes Drug Partnership with Eli Lilly

In collaboration with Eli Lilly and Company (NYSE:LLY), a pharmaceutical company recognized globally for its innovative diabetes and metabolic therapies, Nxera Pharma has reached a key development milestone. Under their multi-target collaboration and license agreement for diabetes and metabolic diseases, this milestone triggered a payment to Nxera.

Key Milestone Reached by Nxera in Diabetes Drug Collaboration with Eli Lilly

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The collaboration, which began in 2022, combines Nxera’s innovative drug design technology with Eli Lilly and Company’s (NYSE:LLY) expertise in drug development, commercialization, and therapeutic areas. The agreement assigns Eli Lilly responsibility for advancing the compounds through development and commercialization efforts in later stages.

Nxera Pharma expects to receive the payment by the third quarter of the fiscal year ending December 2025. Furthermore, the agreement makes the company eligible to receive development and commercial milestones amounting to $694 million, along with tiered royalties on global sales.

This development not only highlights Nxera’s drug discovery capabilities but also strengthens the potential of both parties to treat patients suffering from diabetes and metabolic diseases.

Nxera Pharma specializes in GPCR-focused structure-based drug design for metabolic and other diseases.

LLY closed 1.28% higher on June 2.

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