** Massachusetts-based drug developer Neuphoria Therapeutics NEUP.O rises 3.31% to $4.65 in morning trade
** Co, which develops treatments for brain and mental health disorders, says it is due to receive $15 million milestone payment from Merck MRK.N
** The payment is triggered by the start of a mid-stage study for the treatment of Merck's Alzheimer's disease dementia
** The study is estimated to complete on July 20, 2027
** The study is to test if the experimental drug, MK-1167, given along with another therapy that affects memory, which can improve symptoms of Alzheimer's disease dementia such as memory and mental activity
** NEUP is eligible to receive up to $450 million in additional milestone payments if certain developments are achieved
** In the last 12 months, the stock down 70%
(Reporting by Siddhi Mahatole)
((Siddhiprabhanjan.mahatole@thomsonreuters.com))
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