|Nicox Partner Ocumension Completes Successful Hong Kong IPO at an approximately US$1,090 Million Valuation|
July 10, 2020 – release at 8:30 am CET
Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today congratulated its partner Ocumension Therapeutics on its successful IPO on the Hong Kong Stock Exchange and provided an update on the programs in the collaboration.
Ocumension Therapeutics (01477.HK) began trading on the Hong Kong Stock Exchange on July 10, 2020 after an IPO raising HK$1,424 (~US$184) million at a valuation of approximately HK$8,430 (~US$1,090) million on the first day of trading. Nicox and Ocumension have collaborations on NCX 470 and ZERVIATETM (cetirizine ophthalmic solution), 0.24%, in the Chinese and certain Southeast Asian markets, and on NCX 4251 in the Chinese market. NCX 470 and ZERVIATE have been identified by Ocumension as key drug candidates, among four in total.
“Ocumension is a key partner for Nicox as we are convinced that the Chinese market offers significant future revenue potential for our partnered products. Ocumension’s successful IPO demonstrates the strong interest by investors in the potential value of their pipeline, including Nicox’s NCX 470 and ZERVIATE.” said Michele Garufi, Chairman and CEO of Nicox. “We are working very closely with the outstanding Ocumension team on both of these programs, and in the future on NCX 4251, and we believe they are well positioned to maximize the value of our assets in the Chinese and Southeast Asian markets.”
Update on Programs in the Nicox-Ocumension Collaboration
·NCX 470, Nicox’s lead product candidate, a novel, second-generation nitric oxide (NO)-donating bimatoprost analog: Mont Blanc, the first Phase 3 clinical trial of NCX 470 for lowering of intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension, was initiated on 1 June, 2020 (see Press Release). It is being conducted principally in clinical sites in the U.S. and will include a small number of Chinese clinical sites. A second Phase 3 trial, Denali, jointly managed and equally funded by Nicox and Ocumension, is expected to start in Q4 2020. It will include clinical sites in both the U.S. and China. The two trials together are expected to be sufficient for filing NDAs in both the U.S. and China.
Nicox may potentially receive over $18 million in development and sales milestones for ZERVIATE and NCX 4251, and is eligible to receive tiered royalties on Ocumension’s sales of NCX 470, ZERVIATE and NCX 4251. Nicox and Ocumension expanded their collaboration on NCX 470 in March 2020 when Ocumension paid Nicox €15 million upfront in place of the milestones in the original agreement, gained additional rights to NCX 470 for Korea and South East Asia and agreed to pay 50% of the costs of the second Phase 3 clinical trial of NCX 470 in glaucoma (‘Denali’).
Nicox continues to closely watch the spread of COVID-19 and its impact around the world. We do not currently anticipate delays to our clinical timelines and will provide updates in due course if there is an impact on our development projects and timelines.
|Nicox S.A. is an ophthalmology company developing innovative solutions to help maintain vision and improve ocular health. Nicox’s lead program in clinical development is NCX 470, a novel, second-generation nitric oxide-donating bimatoprost analog, for lowering intraocular pressure in patients with glaucoma. The company is also developing NCX 4251, a proprietary formulation of fluticasone, for acute exacerbations of blepharitis. Nicox generates revenue from VYZULTA® in glaucoma, licensed exclusively worldwide to Bausch & Lomb, and ZERVIATE™ in allergic conjunctivitis, licensed in multiple geographies, including to Eyevance Pharmaceuticals, LLC, in the U.S. and Ocumension Therapeutics in the Chinese and Southeast Asian markets.
Nicox is headquartered in Sophia Antipolis, France, is listed on Euronext Paris (Compartment B: Mid Caps; Ticker symbol: COX) and is part of the CAC Healthcare, CAC Pharma & Bio and Next 150 indexes.
For more information on Nicox, its products or pipeline, please visit: www.nicox.com.
Bryan, Garnier & Co Victor Floc’h Paris, France
|The views expressed by analysts in their coverage of Nicox are those of the author and do not reflect the views of Nicox. Additionally, the information contained in their reports may not be correct or current. Nicox disavows any obligation to correct or to update the information contained in analyst reports.|
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|The information contained in this document may be modified without prior notice. This information includes forward-looking statements. Such forward-looking statements are not guarantees of future performance. These statements are based on current expectations or beliefs of the management of Nicox S.A. and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Nicox S.A. and its affiliates, directors, officers, employees, advisers or agents, do not undertake, nor do they have any obligation, to provide updates or to revise any forward-looking statements.
Risks factors which are likely to have a material effect on Nicox’s business are presented in the 3rd chapter of the ‘Document d’enregistrement universel, rapport financier annuel et rapport de gestion 2019’ filed with the French Autorité des Marchés Financiers (AMF) on March 6, 2020 which are available on Nicox’s website (www.nicox.com).
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