Nicox Strengthens Ophthalmic Portfolio with Immco Diagnostics’ Proprietary Test in the Dry Eye Market – Exclusive North American Agreement with rest of the world option
June 18, 2013
June 19, 2013.
Sophia Antipolis, France.
Nicox S.A.(NYSE Euronext Paris: COX) announced today that it has entered into an exclusive agreement with Immco Diagnostics Inc.(“Immco”), a worldwide leader in autoimmune diagnostic products and services, to promote a proprietary laboratory test targeted at early detection and diagnosis of Sjögren’s Syndrome to eye care professionals in North America. Dry eye is one of the early primary symptoms of the disease and the collaboration will give eye care practitioners and their patients’ increased access to this new state-of-the-art and unique test which supports early diagnosis and potentially more efficient management of this chronic disease.
Under the terms of the agreement, Immco will grant Nicox the exclusive rights to promote the laboratory test to eye care practitioners in North America (US, Canada, Puerto Rico, Mexico). Nicox will be responsible for all marketing activities, while Immco will carry out the test in its CLIA-approved laboratory in Buffalo, NY, and be responsible for regulatory activities and reimbursement. Nicox will receive a majority share of revenue generated from eye care practitioners and no upfront or milestones payments will be made by Nicox. Nicox also has a nine month option to negotiate an agreement to promote the test in the rest of the world. During this period, Immco and Nicox are planning to study and evaluate the feasibility and implementation steps for the test in other markets, including Europe.
Sjögren’s Syndrome is among the most common and underdiagnosed autoimmune diseases. Current diagnostic methods are only moderately effective at diagnosing the disease and can be used only once it has progressed to an advanced stage where treatment options are limited.