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February 14, 2014.

Sophia Antipolis, France.

Nicox S.A. (NYSE Euronext Paris: COX) today announced its decision to re-focus naproxcinod development efforts. Nicox has granted an undisclosed financial partner the right to enter into a period of exclusive evaluation to assess the potential development of naproxcinod and of next generation nitric oxide (NO)- donors outside the ophthalmology area. The evaluation will be entirely funded by this partner and will be focused initially on Duchenne muscular dystrophy (DMD). Nicox has granted the undisclosed partner the exclusive right, should the results of the evaluation be satisfactory to the partner, to invest at the end of the evaluation period in naproxcinod and next generation NO-donors outside ophthalmology through an independent structure. Nicox will not pursue any other development activities or discussions with third parties related to naproxcinod.

Naproxcinod is a CINOD (Cyclooxygenase-Inhibiting Nitric Oxide-Donating) anti-inflammatory candidate. In October 2013, the European Commission granted Orphan Drug Designation for naproxcinod for the treatment of DMD. DMD is the most common and serious form of muscular dystrophy, a group of inherited diseases that cause muscle weakness and muscle loss. Promising preclinical results obtained with naproxcinod in models of muscular dystrophy were presented at the Muscular Dystrophy Association Scientific Conference in Washington, DC, in April 2013, and at the International Congress of the World Muscle Society in Asilomar, CA in October 2013, and have been published in Human Molecular Genetics in early 20141.

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Reference

1 Long-term treatment with naproxcinod significantly improves skeletal and cardiac disease phenotype in the mdx mouse model of dystrophy, Uaesoontrachoon K, Quinn JL, Tatem KS, Van der Meulen JH, Yu Q, Phadke A, Miller BK, Gordish-Dressman H, Ongini E, Miglietta D, Nagaraju K. Hum Mol Genet. 2014, Early online publication Jan 23, 2014.

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Nicox (Bloomberg: COX:FP, Reuters: NCOX.PA) is an emerging international company focused on the ophthalmic market. With a heritage of innovative R&D, business development and commercial expertise, the Nicox team is building a diversified portfolio of therapies and diagnostic tools that can help people to enhance their sight. The Company's commercial portfolio and near-term pipeline already include several innovative diagnostic tests intended for eye care professionals, as well as a range of eye care products. Nicox's key proprietary asset in ophthalmology is latanoprostene bunod, a novel compound based on Nicox's proprietary nitric oxide (NO)-donating R&D platform, currently in Phase 3 clinical development in collaboration with Bausch + Lomb for the potential treatment of glaucoma and ocular hypertension. Further NO-donors are under development, notably through partners.

Nicox is headquartered in France, with research capabilities in Italy, a growing commercial infrastructure in North America and in the major European markets and an expanding international presence through partners. Nicox S.A. is listed on Euronext Paris (Compartment B: Mid Caps). For more information on Nicox or its products please visit www.nicox.com.

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This press release contains certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated in the forward-looking statements.

Risks factors which are likely to have a material effect on Nicox's business are presented in the 4th chapter of the « Document de référence, rapport financier annuel et rapport de gestion 2012 » filed with the French Autorité des Marchés Financiers (AMF) on March 22, 2013 and available on Nicox's website (www.nicox.com) and on the AMF's website (www.amf-france.org).

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Nicox S.A.
Drakkar 2 | Bât D | 2405 route des Dolines | CS 10313 | Sophia Antipolis | 06560 Valbonne | France
T: +33 (0)4 97 24 53 00 | F: +33 (0)4 97 24 53 99

www.nicox.com