Nicox Strengthens Cash Position With Divestment of its VISUfarma Shareholding
July 10, 2020
Sophia Antipolis, France
Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today announced that it has sold its remaining stake in VISUfarma, a pan-European ophthalmic specialty pharmaceutical company, to a subsidiary of the main shareholder, GHO Capital, for €5 million. The stake consisted of shares in the UK holding company of VISUfarma and loan notes granted by VISUfarma B.V.
“Realizing immediate value from our stake in VISUfarma through the divestment to its main shareholder, GHO Capital, is a logical step in our strategy focused on the rapid advancement of our R&D pipeline to NDA submissions for our two lead product candidates, NCX 470 and NCX 4251. This agreement, in addition to the expansion of our collaboration with Ocumension in March, is a further proof of our ability to secure the right financial resources for our Company through the leverage of our multiple assets.” said Gavin Spencer, Chief Business Officer of Nicox.
Nicox transferred its European and International commercial entities and certain assets and rights to VISUfarma in August 2016. The transaction is subject to certain approvals and is expected to close on or before July 23, 2020.