NicOx more than doubles first quarter sales year-on-year

French ophthalmic company NicOx has achieved sales of 2.1 million euros ($2.3 million) in the first quarter of 2015, up from 0.9 million euros in the first quarter of 2014.

The company has said it expects a continuous progression and growth of revenues throughout the rest of the year. In 2015’s first quarter, the company successfully completed financing with a gross value of 27 million euros, with the participation of major institutional investors specialized in life sciences, mainly from the USA. Nicox also obtained orphan drug designation from the US Food and Drug Administration for naproxcinod for the treatment of Duchenne Muscular Dystrophy. It signed an exclusive licensing agreement with InSite Vision for AzaSite (azithromycin ophthalmic solution) and BromSite (bromfenac ophthalmic solution) in Europe, the Middle East and Africa.

Michele Garufi, chairman and chief executive of Nicox, said: "We enjoyed an excellent start to 2015 across the different business activities of our Group. The successful financing completed in March demonstrated support for our strategy from international specialist investors, and in particular for Vesneo and AC-170, both of which have the possibility to be approved in the US by the end of 2016. In addition, we have just launched a new product from our internal development program in Europe, under our own brand Zared, and we look forward to further product launches and sales growth through the rest of 2015."