By Adriano Marchese
Neuphoria Therapeutics said it expects to receive a milestone payment from Merck for the second clinical trial phase of its Alzheimer's disease dementia treatment.
The biotechnology company said Wednesday that it is expecting to receive $15 million from the pharmaceutical giant now that it has started the phase 2 clinical trial to evaluate the safety and efficacy of MK-1167.
The drug aims to enhance the activity of a certain receptor in the brain which is involved in cognitive functions like memory and learning.
Neuphoria said that the payment marks the second milestone payment in collaboration with Merck. The company has an agreement to receive $450 million in additional milestone payments for progress on multiple candidates, including MK-1167.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 12, 2025 07:34 ET (12:34 GMT)
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