Nxera Pharma's Partner Neurocrine Biosciences Doses First Patient in Phase 2 Trial of NBI-1117570 for Adults with Schizophrenia

Tokyo, Japan and Cambridge, UK, 13 April 202 6 – Nxera Pharma Co., Ltd. (“Nxera” or “the Company”; TSE 4565) today announces that its partner Neurocrine Biosciences Inc. (“Neurocrine”) has initiated and dosed the first patient(s) in a Phase 2 clinical study of NBI-1117570 (“NBI-'570”) in adults with schizophrenia. As a result, Nxera will receive milestone payments of US$22.5 million from Neurocrine pursuant to the agreement. The milestone payments will be recognised as revenue in Q1 FY2026. NBI-‘570 is an investigational, orally administered, dual muscarinic M1/M4 receptor agonist discovered using Nxera's proprietary NxWave™ drug discovery platform.