SOPHIA ANTIPOLIS, France, Aug. 29, 2014 (GLOBE NEWSWIRE) -- Nicox S.A. (NYSE Euronext Paris: COX), the international ophthalmic company, today announced that it has entered into an exclusive agreement with Nitto Medic, a leading Japanese ophthalmic company, for the distribution in Japan of AdenoPlus®, a diagnostic test that aids in the differential diagnosis of acute conjunctivitis. Nicox has worldwide rights outside North America for AdenoPlus® as per an agreement with Rapid Pathogen Screening, Inc. (RPS®).
Michele Garufi, Chairman and Chief Executive Officer of Nicox, said: "We are delighted to sign this agreement with Nitto Medic, a leader in the Japanese ophthalmic sector, as our exclusive distributor for AdenoPlus® in this market, which is the second largest of the world1. We believe that the high accuracy of AdenoPlus® and its easy-to-use characteristics, together with the relationships of Nitto Medic amongst Japanese ophthalmologists, will contribute to the success of this innovative diagnostic tool."
Ryu Nakai, President and Chief Executive Officer of Nitto Medic, commented: "We are very excited about this agreement with Nicox. We are confident that AdenoPlus® will greatly contribute to the healthcare and welfare of people in Japan. We do hope that this first agreement with Nicox will be the beginning of a long-lasting collaboration as well as on future product opportunities."
Under the terms of the agreement, Nitto Medic will become the exclusive distributor of AdenoPlus® in Japan. Nitto Medic will pay a €500,000 upfront payment to Nicox and will purchase the AdenoPlus® devices from Nicox. Nitto Medic will be responsible for obtaining the relevant regulatory approval in Japan before launch. AdenoPlus® is expected to be launched in Japan within the next 18 months, pending regulatory approval.
AdenoPlus® is an in vitro diagnostic medical device that aids in the identification of adenovirus to assist in the differential diagnosis of acute conjunctivitis. Correct diagnosis of viral conjunctivitis can help to reduce the inappropriate use of antibiotics. Nicox in-licensed AdenoPlus® from RPS® in June 2012 and has full exclusive rights to commercialize AdenoPlus® worldwide, except in the United States and Canada. Nicox launched AdenoPlus® in the five main European markets (France, Germany, Italy, Spain and the UK) through its own sales force in the first half of 2014, and has established partnerships with third parties in other territories, including Switzerland, Turkey, Benelux, South Africa and Poland.
About Nitto Medic
Nitto Medic is a leading Japanese specialist in ophthalmology drugs, manufactured in its Toyama-based FDA-approved plant. Nitto Medic is based in Toyama, Japan, and was founded in 1994. Its main products include ophthalmic solutions, ophthalmic ointments, nasal sprays, oral drugs, in-vitro diagnostics and eyewash solutions. For more information, please visit www.nittomedic.co.jp.
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).
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Press release http://hugin.info/143509/R/1851924/647043.pdf