Nxera Pharma Co., Ltd. (TSE: 4565) today announces that its subsidiary, Nxera Pharma UK Ltd, has entered into an exclusive global license agreement with AbbVie Inc. for Nxera’s EP4 agonist program, including NXE0033744, a novel small molecule EP4 receptor agonist discovered by Nxera. Under the agreement, AbbVie will receive exclusive rights to develop and commercialize NXE0033744 worldwide in inflammatory bowel disease (IBD). Under the terms of the agreement, Nxera will receive an upfront payment of US$100 million. Nxera is also eligible to receive up to an additional US$1.37 billion in development and commercial milestone payments, plus tiered royalties on net sales.
Latham & Watkins LLP represents AbbVie in the transaction with a Life Sciences Licensing team led by New York partner Aaron Gardner and San Diego counsel Robert Yeh, with associate Patrick Chew. Advice was also provided on antitrust matters by Washington, D.C. partner Ian Conner, Brussels partner Hector Armengod, and London partner Gregory Bonné, with associates Oscar Hayward and Bernie Archbold.
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