Nicox: Santen grants Eupharmed extension of exclusive rights to distribute Cationorm® in Italy
May 27, 2014
May 28, 2014.
Sophia Antipolis, France.
Nicox S.A. (NYSE Euronext Paris: COX), the international ophthalmic company, today announces that its wholly-owned Italian subsidiary Eupharmed has entered into an exclusive agreement with Santen SAS, enabling Eupharmed to continue to distribute Cationorm® in Italy.
Cationorm® is an innovative treatment for dry eye symptoms and is one of the highest-selling products in Eupharmed’s current portfolio. It has been distributed by Eupharmed in Italy since 2010 under a previous agreement expiring on July 29, 2014. Under the terms of the agreement announced today, Eupharmed will continue to have the rights to promote and sell Cationorm® in Italy on an exclusive basis until December 31, 2016.
As agreed at the time of the Eupharmed acquisition in December 2013, Nicox will make an additional earn-out payment to Fin Posillipo SPA, Eupharmed’s former shareholder, linked to the extension of the distribution agreement. The earn-out payment will be made in the form of 823,483 newly issued Nicox shares, which will be subject to certain lock-up provisions.
Cationorm® is an innovative emulsion to treat dry eye symptoms (classed as a medical device) with the Novasorb® technology. It is a cationic oil-in-water emulsion, which protects, moisturizes and lubricates the ocular surface to ensure a sustained relief and reduce the dry eyes symptoms such as stinging and sandy gritty. Cationorm® contains small positively charged droplets with an oily core that are electrostatically attracted by the negatively charged ocular surface. It spreads in an optimal way on the ocular surface directly after application and supports all three layers of the tear film due to its unique composition.