Nxera Pharma  notes that its partner Neurocrine Biosciences  a leading neuroscience-focused biopharmaceutical company, announced that it has initiated its Phase 1 first-in-human clinical study to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of investigational compound NBI-1117567 in healthy adult participants – see Neurocrine press announcement here.

NBI-1117567 is an investigational, oral, muscarinic M1 preferring (M1/M4) selective agonist discovered by Nxera that may have the potential to treat symptoms of cognition in patients with neurological and neuropsychiatric conditions.

The clinical development milestone achieved with this compound as announced does not trigger a milestone payment from Neurocrine to Nxera under the terms of the 2021 agreement between the companies. Milestone payments, under the agreement, are payable upon the achievement of multiple, defined development events for each program. Nxera will announce the receipt of any milestone payments in accordance with TSE reporting requirements.