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Tokyo, Japan and Cambridge, UK, 1 November 2024 – Nxera Pharma Co., Ltd. (“Nxera” or “the Company”; TSE 4565) – formerly known as Sosei Group or Sosei Heptares – provides an update on operational activities and reports its consolidated results for the third quarter and nine months ended on 30 September 2024. The full report can be viewed here.
Chris Cargill, President & CEO of Nxera, commented: “The third quarter of 2024 has seen Nxera reach two important product development milestones. First, in September, we received approval in Japan for QUVIVIQ™ for the treatment of adult patients with insomnia and are working towards making this new treatment available to patients as soon as possible under a new partnership with Shionogi. This achievement is a great example of Nxera’s capabilities and ambitions in Japan and also reinforces our commitment to addressing critical health needs in the sleep disorder space. We believe that this therapy will make a meaningful difference in the lives of those struggling with insomnia.
“We were also thrilled by the positive Phase 2 data reported by our partner Neurocrine Biosciences for NBI-1117568 in schizophrenia and their commitment to advance this candidate into Phase 3 trials in 2025. We believe the clinical data highlight the competitive profile of NBI-1117568 and validate the power of our NxWave™ discovery platform to deliver differentiated molecules that modulate important disease targets.
“We look forward to reporting progress on these and other programs in our inhouse and partnered pipeline over future months as we continue our mission to bring innovative therapies to patients in Japan and around the world.”
Operational Highlights for Q3 2024
Post-period Events
Financial Highlights for the Nine-month Period ended 30 September 2024
*Convenience conversion to US$ at the following rates: FY 2024: 1US$ =151.14JPY; FY 2023: 1US$ =138.09JPY; 30Sep2024: 1US$ =142.16JPY; 31 Dec 2023: 1US$ = 141.03 JPY
** Core operating profit / loss is an alternative performance measure which adjusts for material non-cash costs and one-off costs in order to provide insights into the recurring cash generation capability of the core business.
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About Nxera Pharma
Nxera Pharma (formerly Sosei Heptares) is a technology powered biopharma company, in pursuit of new specialty medicines to improve the lives of patients with unmet needs in Japan and globally.
In addition to several products being commercialized in Japan, we are advancing an extensive pipeline of over 30 active programs from discovery through to late clinical stage internally and in partnership with leading pharma and biotech companies. This pipeline is focused on addressing major unmet needs in some of the fastest-growing areas of medicine across neurology, GI and immunology, metabolic disorders and rare diseases, and leverages the power of our unique and industry leading GPCR-targeted structure-based drug discovery NxWaveTM platform to provide a sustainable source of best- or first-in-class candidates.
Nxera employs over 350 talented people at key locations in Tokyo and Osaka (Japan), London and Cambridge (UK), Basel (Switzerland) and Seoul (South Korea) and is listed on the Tokyo Stock Exchange (ticker: 4565).
For more information, please visit www.nxera.life
LinkedIn: @NxeraPharma | X: @NxeraPharma | YouTube: @NxeraPharma
Enquiries:
Nxera – Media and Investor Relations
Kentaro Tahara, VP Investor Relations and Corporate Strategy
Shinichiro Nishishita, VP Investor Relations, Head of Regulatory Disclosures
Maya Bennison, Communications Manager
+81 (0)3 5210 3399 | +44 (0)1223 949390 | IR@Nxera.life
MEDiSTRAVA (for International Media)
Mark Swallow, Frazer Hall, Erica Hollingsworth
+44 (0)203 928 6900 | Nxera@medistrava.com
Forward-looking statements
This press release contains forward-looking statements, including statements about the discovery, development, and commercialization of products. Various risks may cause Nxera Pharma Group’s actual results to differ materially from those expressed or implied by the forward looking statements, including: adverse results in clinical development programs; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialize products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialization activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.