Milestone payment triggered by the initiation of a Phase 2 clinical trial in Alzheimer's disease with MK-1167, an α7 nicotinic acetylcholine receptor positive allosteric modulator

BURLINGTON, Mass., Feb.  12, 2025  (GLOBE NEWSWIRE) -- Neuphoria Therapeutics Inc. (Nasdaq: NEUP) (Neuphoria or Company), a late-stage biotechnology developing impactful treatments for neuropsychiatric disorders, bringing new hope and tangible improvements to patients' lives, announced today that the Company is due to receive a $15 million milestone payment from Merck, known as MSD outside the United States and Canada. The payment is triggered by the initiation, by Merck, of a Phase 2 clinical trial to evaluate the safety and efficacy of MK-1167, an α7 nicotinic acetylcholine receptor positive allosteric modulator (PAM), for the treatment of the symptoms of Alzheimer's disease dementia (NCT06721156).

"We are excited to see this latest progress in our long-standing collaboration with Merck. The initiation of the Phase 2 trial validates our past joint discovery research efforts and Neuphoria's unique ion channel targeting platform that has generated several small molecule candidates currently in clinical and preclinical stages of development." said Spyros Papapetropoulos, M.D., Ph.D., President and CEO of Neuphoria Therapeutics Inc. "This is an important milestone as we continue to evaluate the potential of α7 nicotinic acetylcholine receptor targeted therapeutics to provide a much-needed treatment option for the treatment of people with neuropsychiatric disorders".

This $15M payment marks the second milestone achieved in the collaboration with Merck. Under the agreement, Neuphoria is eligible to receive up to $450M in additional milestone payments for certain development and commercial milestones associated with the progress of multiple candidates plus royalties on net sales of any licensed medicines.

About Neuphoria Therapeutics Inc.
Neuphoria (Nasdaq: NEUP) is a clinical-stage biotechnology company dedicated to developing therapies that address the complex needs of individuals affected by neuropsychiatric disorders. Neuphoria is advancing its lead drug candidate, BNC210, an oral, proprietary, selective negative allosteric modulator of the α7 nicotinic acetylcholine receptor, for the acute, "as needed" treatment of social anxiety disorder (SAD) and for chronic treatment of post-traumatic stress disorder (PTSD). BNC210 is a first-of-its-kind, well-tolerated, broad spectrum anti-anxiety experimental therapeutic, designed to restore neurotransmitter balance in relevant brain areas, providing rapid relief from stress and anxiety symptoms without the common pitfalls of sedation, cognitive impairment, or addiction. In addition, Neuphoria has a strategic partnership with Merck & Co., Inc. (known as MSD outside the United States and Canada) with two drugs in early-stage clinical trials for the treatment of cognitive deficits in Alzheimer's disease and other central nervous system conditions. Neuphoria's pipeline also includes the α7 nicotinic acetylcholine receptor next generation and the Kv3.1/3.2 preclinical programs, both in the lead optimization development stage.