Sosei Group Corporation noted its partner Neurocrine Biosciences Inc. has confirmed its plans to evaluate two new muscarinic agonist candidates in Phase 1 first-in-human clinical studies. The studies are designed to evaluate the safety, tolerability, pharmacokinetics, and pharmacodynamics of NBI-1117569 and NBI-1117567 in healthy adult participants. NBI-1117569, a muscarinic M4-preferring agonist, and NBI-1117567, a muscarinic M1-preferring agonist are both investigational, oral compounds that may have the potential to treat neurological and neuropsychiatric conditions and were developed utilizing Sosei Heptares' structure-based drug design platform.

Neurocrine confirmed a Phase 1 clinical study of NBI-1117569 has started and a Phase 1 study of NBI-1117567 will be initiated in 2024. The clinical development milestones achieved with both compounds as announced do not trigger a milestone payment from Neurocrine to Sosei Heptares under the terms of the 2021 agreement between the companies. Milestone payments, under the agreement, are payable upon the achievement of multiple, defined development events for each program.

Sosei Heptares will announce the receipt of any milestone payments in accordance with TSE reporting requirements.