Nicox 2012 Financial Results and Business Update
March 22, 2013
Sophia Antipolis, France.
Nicox S.A. (NYSE Euronext Paris: COX) today announced its financial results for the year ended December 31, 2012, and provided an overview of its activities.
Michele Garufi, Chairman and CEO of Nicox, said: “In 2012, we made good progress in transforming Nicox into an international ophthalmic company driven by our world-leading proprietary research platform and our international network of collaborations with leading partners in the sector.
“The potential of our NO-donating research platform in the ophthalmic space was confirmed by the positive results obtained in a large phase 2b study conducted by our partner Bausch + Lomb with latanoprostene bunod, our glaucoma drug candidate discovered in Nicox’s Research Laboratories in Milan. These results led Bausch + Lomb to initiate a phase 3 program, which started in January this year.
“2012 also saw in October Nicox’s first commercial launch managed by our new team in the US of AdenoPlus™, a rapid point-of-care diagnostic test for the differential diagnosis of acute conjunctivitis licensed from RPS® in June 2012.
“The organization of the Company has been structured to prepare Nicox for its planned expansion as an integrated, international ophthalmic company with a commercial presence in the US and in the five largest European markets. We expect continued strong progress in 2013 with further licensing, co-development and commercialization agreements for innovative therapeutics and diagnostic tools.”
Eric Castaldi, Chief Financial Officer of Nicox, said: “In 2012, Nicox delivered a significant increase in revenues as a result of the $10 million milestone payment received from Bausch + Lomb. As we invest resources to build a specialized ophthalmic company, our operating expenses are moving from R&D to corporate development and commercial activities. As of December 31, 2012, the Company had cash and cash equivalents of more than €77 million, giving us the flexibility to continue our investment in strategic business development opportunities.”