NicOx to acquire Aciex Therapeutics

Ophthalmology-focused French biotech firm NicOx (Euronext Paris: COX) has entered into an agreement to acquire all of the outstanding equity of Aciex Therapeutics, a private, USA-based, ophthalmic development company with a strong near-term pipeline of therapeutics addressing major segments of the ophthalmic market, including allergy and inflammation.

The transaction, which is subject to the approval of NicOx’s shareholders, includes a $65 million upfront payment in newly-issued NicOx shares, plus contingent value rights (CVRs) giving right to shares, for a potential additional value of up to $55 million, as detailed below. The news, ahead of a conference call this afternoon, saw NicOx’s share rise 1.7% to 2.218 euros.

The acquisition will significantly broaden and strengthen NicOx’s therapeutic development pipeline, which would include two Phase III candidates (latanoprostene bunod, currently being developed by Nicox’s partner Bausch + Lomb, and Aciex’s AC-170 for allergic conjunctivitis). In addition, the proposed acquisition brings other therapeutic candidates which could enter clinical studies within 12 to 18 months and a collaborative research agreement on preclinical Syk/JAK inhibitors. The completion of the acquisition remains subject to the approval of NicOx’s shareholders and other customary conditions.