Nicox signs agreement for NCX 4251 in China with Ocumension Therapeutics for up to €12 million in milestones plus royalties
July 2, 2019
Upfront payment of €2 million and potential future milestones of €10 million
Tiered royalties from 5% to 10%
With 3 partnered programs Nicox & Ocumension have forged a strong partnership in China
Sophia Antipolis, France
Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, and Ocumension Therapeutics today announced they have entered into an exclusive license agreement for the development and commercialization of Nicox’s product candidate, NCX 4251, currently in a Phase 2 trial in the United States in patients with acute exacerbations of blepharitis, for a territory comprising mainland China, Hong Kong, Macau and Taiwan.
Nicox and Ocumension already collaborate on the development and commercialization of NCX 470 for glaucoma or ocular hypertension and ZERVIATETM for allergic conjunctivitis in mainland China, Hong Kong, Macau and Taiwan. Ocumension is an ophthalmology company funded by 6 Dimensions Capital, one of the leading global healthcare investment funds, formed by the merger of Wuxi Healthcare Ventures and Frontline BioVentures.
“Our strategy is to retain rights and associated potential revenues for our product candidates NCX 470 and NCX 4251 in the U.S. and key European markets, and to partner in other regions to maximize the value of our product pipeline. With three collaborations between us, Ocumension is now our strategic partner for the Chinese market with the resources to capitalize on the commercial opportunities in this rapidly expanding market,” said Gavin Spencer, Chief Business Officer of Nicox. “At present, we are in discussions with multiple parties for similar agreements in other regions for our pipeline.”
Ye Liu, Chief Executive Officer of Ocumension, said, “We are very pleased to extend our collaboration with Nicox to a third product and look forward to further integrating our team with our colleagues at Nicox. Ocumension is now well-placed to become a leading company in China in the ophthalmic space and we are preparing to expedite the local development of Nicox products.”
Ocumension will receive exclusive rights for the agreed territory to develop and commercialize NCX 4251 in blepharitis. Under the terms of the agreement, Nicox receives an upfront payment of €2 million and may potentially receive development and sales milestones of up €10 million together with tiered royalties of between 5% and 10% on sales of NCX 4251. Ocumension is responsible, at its own cost, for all development activities necessary for the approval of NCX 4251 in the territory, overseen by a Joint Development Committee comprising representatives of both companies.
All payments under this agreement will be made and reported in USD.