Nicox amends deals with Ocumension

French ophthalmology focussed biotech firm Nicox (Euronext Paris: COX) has amended its March 2019 license agreement with China’s Ocumension Therapeutics granting the latter exclusive rights to develop and commercialize Zerviate (cetirizine ophthalmic solution), 0.24% for the treatment of allergic conjunctivitis in the Chinese market.

Under the amended agreement, Ocumension now also has exclusive rights of Zerviate in the majority of South East Asian Region. Other terms of the original agreement remain unchanged and Nicox may potentially receive development and sales milestones of up 17 million euros ($19.2 million) together with tiered royalties of between 5% and 9% on sales of Zerviate. `

“In addition to the expansion of our deal with Ocumension on NCX 470, also announced today, we have decided to broaden our relationship on Zerviate, adding this important emerging area of Asian markets to the original license,” said Nicox’ chief business officer Gavin Spencer. “Ocumension has commenced construction of a new manufacturing site in China which will ultimately be able to manufacture and therefore be well-placed to supply these additional territories,” he added.

“The development teams at Ocumension and Nicox have been working together to prepare the Chinese IND. We expect to file this shortly and be in a position to start a Phase III clinical trial for approval in China by Q4 2020,” noted Ocumension chief executive Ye Liu.