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Nxera Pharma to Receive US$4.8 Million in Milestone Payments Following Centessa's Initiation of Clinical Development of ORX142, a Novel Orexin Receptor 2 (OX2R) Agonist

1. Nxera Pharma receives $4.8 million from Centessa for clinical milestones. 2. Centessa initiates clinical development of ORX142, an OX2R agonist. 3. IND clearance for ORX142 enables Phase 1 trials in healthy volunteers. 4. Revenue recognition: $1.8 million in Q2 2025; $3.0 million in Q3 2025. 5. ORX142 targets neurological disorders, enhancing Centessa's product pipeline.

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Why Bullish?

Centessa's successful IND clearance and milestone payments could uplift investor sentiment, analogous to similar FDA approvals boosting companies like Bluebird Bio (BLUE).

How important is it?

The substantial milestone payments indicate progress, improving Centessa's financial outlook and potential for future therapies.

Why Short Term?

Market reactions to milestone announcements typically occur quickly, seen in other biotech scenarios like Novavax (NVAX) following their IND clearances.

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July 04, 2025 03:00 ET  | Source: Nxera Pharma Tokyo, Japan and Cambridge, UK, 4 July 2025 – Nxera Pharma Co., Ltd. (“Nxera” or “the Company”; TSE 4565) today announces that it will receive US$4.8 million in milestone payments from Centessa Pharmaceuticals pursuant to its research collaboration with Centessa. The milestones were achieved as Centessa initiated clinical development of ORX142, its second novel orexin receptor 2 (OX2R) agonist, following the recent clearance of an Investigational New Drug (IND) application by the US Food and Drug Administration (FDA) for a Phase 1 clinical study of ORX142 in healthy volunteers. (click here). ORX142 is an investigational, novel, highly potent and selective OX2R agonist being developed by Centessa for the treatment of select neurological and neurodegenerative disorders. Of the milestone receipt, US$1.8 million associated with the clearance of the IND will be recognized as revenue in the second quarter of 2025, and US$3.0 million associated with the initiation of clinical development will be recognized as revenue in the third quarter of 2025. –END– About Nxera PharmaNxera Pharma 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. We have built an agile, new-generation commercial business in Japan to develop and commercialize innovative medicines, including several launched products, to address this high value, large and growing market and those in the broader APAC region. Behind that, and powered by our unique NxWave™ discovery platform, 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 of potentially first- and best-in-class candidates is focused on addressing major unmet needs in some of the fastest-growing areas of medicine across neurology/neuropsychiatry, metabolic diseases and immunology and inflammation. Nxera employs approximately 400 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 RelationsShinya Tsuzuki, VP, Head of Investor RelationsShinichiro Nishishita, VP Investor Relations, Head of Regulatory DisclosuresMaya Bennison, Communications Manager+81 (0)3 5962 5718 | +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 statementsThis 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.

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