Nicox gains on Chinese licensing deal
Chinese ophthalmology company Ocumension has paid for exclusive rights to develop and commercialize Nicox’s (Euronext: Paris) NCX 470 in China.
The news sent shares in France-based Nicox soaring on Monday, with the price up by 14% by mid-afternoon.
NCX 470 is being developed for patients with glaucoma or ocular hypertension. Ocumension will pay a one-time upfront payment of 3 million euros ($3.4 million) and a further 2.5 million euros when Nicox initiates a Phase III clinical study with NCX 470 outside the territory of this agreement.
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