BRIEF—Nicox gets $2 million under amended deal with Ocumension

French ophthalmology company Nicox’ shares edged up 1.5% to 3.85 euros today, after it announced that it has amended its March 2019 license agreement with China’s Ocumension Therapeutics, under which the latter has exclusive rights to develop and commercialize Zerviate (cetirizine ophthalmic solution), 0.24% in the Chinese and the majority of South East Asian markets.

Under the amended agreement, Ocumension will immediately pay Nicox $2 million in full advance payment of the future development and regulatory milestones for the product.

Amendments were made to certain rights under non-financial clauses of the agreement.

Nicox remains eligible to receive the same sales milestones of up to $17.2 million together with tiered royalties of between 5% and 9% of net sales of Zerviate by Ocumension.

Zerviate is currently being evaluated in a confirmatory Phase III clinical trial in China by Ocumension, to support a Chinese New Drug Application for the treatment of ocular itching associated with allergic conjunctivitis.