Nicox signs licensing deal for Zerviate in China
French ophthalmology focussed biotech firm Nicox (Euronext Paris: COX) and China’s Ocumension Therapeutics have entered into an exclusive license agreement for the development and commercialization of Nicox' product Zerviate(cetirizine ophthalmic solution), 0.24% for the treatment of allergic conjunctivitis for a territory comprising mainland China, Hong Kong, Macau and Taiwan.
Nicox and Ocumension recently also entered into a collaboration for the development and commercialization of NCX 470 for patients with glaucoma or ocular hypertension, in the same territory. News of the latest deal edged Nicox’ shares up 1.67% to 6.10 euros by late morning trading.
Ocumension will receive exclusive rights for the agreed territory to develop and commercialize Zerviate. Under the terms of the agreement, Nicox may potentially receive development and sales milestones of up 17 million euros ($19.2 million)together with royalties of between 5% and 9% on sales of Zerviate.
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