Tokyo, Japan and Cambridge, UK, 23 October 2024 – Nxera Pharma Co., Ltd. (“Nxera” or “the Company”; TSE 4565) – formerly known as Sosei Group or Sosei Heptares – is pleased to announce that it has won Biotech Company of the Year and Financing Deal of the Year at the Citeline Japan Awards 2024 held yesterday in Tokyo.
The Citeline Japan Awards, the Japanese rendition of the prestigious global Scrip Awards, which have been running for 20 years, recognize outstanding advancements and innovations in the Japanese pharma and biotech sector, highlighting Japan’s integral role in the global healthcare market. The categories were judged by a panel of industry experts within academia and business, from around Japan.
The Biotech Company of the Year award recognized outstanding achievements by Nxera over the qualifying period (1 July 2023 - 30 June 2024). Key among the multiple milestones that the Company achieved is its transformational acquisition of the Japan and South Korea pharma businesses of Idorsia in July 2023, which brought an experienced clinical and commercial development team, in-market and near-launch products, as well as options on further Phase 3-ready assets. The acquisition nearly doubled the size of Nxera Pharma, giving it a strong presence in Japan as a platform to execute its innovative development and commercialization model for the Japanese and broader Asia-Pacific (APAC) markets to improve patients’ access to new medicines. The transformation of the Company provided a clear rationale and the optimal timing to unveil a new corporate brand and name, changing from Sosei-Heptares to Nxera Pharma in April 2024.
Nxera also achieved multiple milestones over the qualifying period in relation to financing (see below) and progress with its extensive inhouse and partnered pipeline, entering a major new partnership with Boehringer Ingelheim to develop and commercialize NXE0048149 and other GPR52 agonists discovered by Nxera for treating schizophrenia, in an up to EUR 670m deal plus royalties.
The Financing Deal of the Year award seeks to reward successful and creative fundraising by Nxera during the qualifying period. In November 2023, the Company raised ~JPY8 billion (~USD54 million) through the first investment by the new OPF1 fund operated by JIC Venture Growth Investments, an affiliate of the government-backed Japan Investment Corporation. Launched in September 2023, this new fund is part of the JIC initiatives included in the Japanese government’s “Startup Development Five-year Plan” to support the growth and sustainable development of innovative companies, including listed companies.
Nxera was also shortlisted as a finalist this year for Best Licensing Deal of the Year and Executive of the Year.
Chris Cargill, President & CEO of Nxera Pharma, commented: “It is extremely gratifying that the hard work and dedication of the Nxera team around the world has been acknowledged through these prestigious Citeline Japan Awards. Nxera is on an exciting journey to become a ‘Next Era’ biopharmaceutical company with a clear vision and purpose to deliver life-changing medicines to patients in Japan and worldwide. My congratulations and thanks go to the entire Nxera team in Japan, the UK, South Korea and Switzerland, and I look forward to continuing our journey together.”
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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 NxWave™ 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).
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.
