Japanese biotech Nxera Pharma (TSE: 4565) has received a $15 million payment from Neurocrine Biosciences (Nasdaq: NBIX) after the first patient was dosed in a Phase III study of NBI-1117568, a potential new treatment for schizophrenia.
The global trial will enroll about 280 adults with acute symptom relapse. Its main goal is to measure changes on the Positive and Negative Syndrome Scale, with a secondary focus on clinician-rated severity improvements.
While the drug has not yet generated revenue, forecasts suggest it could bring in $120 million annually in the USA if approved. The two companies are hoping to fill longstanding treatment gaps in a field where roughly one in three patients do not respond well to current therapies.
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