Sophia Antipolis, France.
Nicox S.A. (NYSE Euronext Paris: COX), the international ophthalmic company, today announced that its shareholders voted to approve the acquisition of Aciex Therapeutics, Inc., a private, US-based, ophthalmic development pharmaceutical company, at the General Meeting held today October 22, 2014, with more than 97% of votes in favour. The transaction is expected to be completed within the next few days, following the completion of certain legal conditions and formalities. All the other resolutions submitted to the General Meeting were also approved.
The acquisition of Aciex represents a significant step forward in Nicox’s strategy of creating an international ophthalmic company and will significantly broaden and strengthen Nicox’s therapeutic development pipeline. Aciex’s therapeutic pipeline includes:
• AC-170 for allergic conjunctivitis, which has completed two phase 3 trials and for which Nicox plans to seek a pre-NDA meeting with the Food and Drug Administration (FDA) by Q1 2015 before the submission of a New Drug Application (NDA);
• AC-155 for post-operative ocular inflammation and pain, which is expected to enter phase 2 studies in 2015, pending FDA agreement.
Upon completion of the acquisition, Nicox will exchange 20,627,024 newly issued Nicox shares for 100% of Aciex’s shares. The transaction also includes contingent value rights giving right to shares for a potential additional value of up to $55 million, based on the potential US FDA approval(s) of AC-170 and of two additional undisclosed products within a pre-determined period.
Nicox’s shareholders also approved the nomination to Nicox’s Board of Directors of Les Kaplan, PhD, Executive Chairman of Aciex Therapeutics, Inc. and former Executive Vice President and President, Research and Development of Allergan, Inc.
For more information, see the Nicox press release dated July 2, 2014 and the ‘Document E’ registered with the French Autorité des Marchés Financiers (AMF) on September 30, 2014 (E.14-060) (in French, available on Nicox’s website www.nicox.com in the ‘Investor Information’ / ‘Shareholder meetings’ section).