Nxera Pharma has announced that its partner Neurocrine Biosciences has received FDA IND acceptance for a phase 2 study of NBI‑1117567 for Alzheimer’s cognition. Nxera will receive a US$10 million milestone payment, recognised in full as revenue in Q3 FY2026.
NBI‑1117567 is an investigational oral muscarinic M1‑preferring agonist discovered using Nxera’s NxWave drug discovery platform. Neurocrine is advancing the programme under a multi‑programme collaboration with Nxera.
Christopher Cargill, President and CEO of Nxera Pharma, commented: “We are delighted to report that NBI‑’567 has become the third compound in the muscarinic agonist portfolio to receive approval to proceed to a Phase 2 study. This follows direclidine (NBI‑1117568), the first NxWave‑designed molecule to advance into a Phase 3 study, and NBI‑1117570, which is currently in Phase 2.”
He added: “Alzheimer’s cognition remains an area of significant unmet medical need globally, including in Japan, and we believe NBI‑’567 has the potential to contribute meaningfully to improving outcomes for patients. We look forward to sharing further updates on progress across the muscarinic agonist portfolio.”
NBI‑1117567 is a selective muscarinic M1/M4 agonist. Muscarinic receptors play a key role in neurotransmission, with M1 considered a potential drug target for cognition and M4 for psychosis.
Under a 2021 collaboration and licensing agreement, Neurocrine gained global development and commercialisation rights to a broad portfolio of muscarinic M4, M1 and dual M1/M4 agonists discovered by Nxera. Nxera retains rights to develop M1 agonists in Japan for any indication, with Neurocrine holding co‑development and profit‑share options.
Nxera is eligible for R&D funding plus development, regulatory and commercial milestones of up to US$2.6 billion, along with future royalties, subject to agreement criteria.
