SOPHIA ANTIPOLIS, France, May 28, 2014 (GLOBE NEWSWIRE) -- Nicox S.A. (NYSE Euronext Paris: COX), the international ophthalmic company, today announces that its wholly-owned Italian subsidiary Eupharmed has entered into an exclusive agreement with Santen SAS, enabling Eupharmed to continue to distribute Cationorm® in Italy.
Cationorm® is an innovative treatment for dry eye symptoms and is one of the highest-selling products in Eupharmed's current portfolio. It has been distributed by Eupharmed in Italy since 2010 under a previous agreement expiring on July 29, 2014. Under the terms of the agreement announced today, Eupharmed will continue to have the rights to promote and sell Cationorm® in Italy on an exclusive basis until December 31, 2016.
As agreed at the time of the Eupharmed acquisition in December 2013, Nicox will make an additional earn-out payment to Fin Posillipo SPA, Eupharmed's former shareholder, linked to the extension of the distribution agreement. The earn-out payment will be made in the form of 823,483 newly issued Nicox shares, which will be subject to certain lock-up provisions.
Cationorm® is an innovative emulsion to treat dry eye symptoms (classed as a medical device) with the Novasorb® technology. It is a cationic oil-in-water emulsion, which protects, moisturizes and lubricates the ocular surface to ensure a sustained relief and reduce the dry eyes symptoms such as stinging and sandy gritty. Cationorm® contains small positively charged droplets with an oily core that are electrostatically attracted by the negatively charged ocular surface. It spreads in an optimal way on the ocular surface directly after application and supports all three layers of the tear film due to its unique composition.
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.
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 2013 » filed with the French Autorité des Marchés Financiers (AMF) on April 2, 2014 and available on Nicox's website (www.nicox.com) and on the AMF's website (www.amf-france.org).
|Nicox||Gavin Spencer | Executive Vice President Corporate Development|
|Tel +33 (0)4 97 24 53 00 | email@example.com|
|United Kingdom||Jonathan Birt|
|M +44 7860 361 746 | firstname.lastname@example.org|
|France||Caroline Courme | Communication Manager|
|Tel +33 (0)4 97 24 53 43 | email@example.com|
Nicox: Santen grants Eupharmed extension of exclusive rights to distri http://hugin.info/143509/R/1788965/614791.pdf