Nicox Signs Agreement for NCX 4251 in China with Ocumension Therapeutics for Up to €12 Million
Nicox SA and Ocumension Therapeutics announced they have entered into an exclusive license agreement for the development and commercialization of Nicox’s product candidate, NCX 4251—currently in a phase 2 trial in the United States in patients with acute exacerbations of blepharitis—for a territory comprising mainland China, Hong Kong, Macau and Taiwan.
Ocumension will receive exclusive rights for the agreed territory to develop and commercialize NCX 4251 in blepharitis. Under the terms of the agreement, Nicox receives an upfront payment of €2 million and may potentially receive development and sales milestones of up €10 million together with tiered royalties of between 5% and 10% on sales of NCX 4251. Ocumension is responsible, at its own cost, for all development activities necessary for the approval of NCX 4251 in the territory, overseen by a Joint Development Committee comprising representatives of both companies.
All payments under this agreement will be made and reported in USD.
Nicox and Ocumension already collaborate on the development and commercialization of NCX 470 for glaucoma or ocular hypertension and Zerviate for allergic conjunctivitis in mainland China, Hong Kong, Macau, and Taiwan. Ocumension is an ophthalmology company funded by 6 Dimensions Capital, a global healthcare investment fund formed by the merger of Wuxi Healthcare Ventures and Frontline BioVentures.
“Our strategy is to retain rights and associated potential revenues for our product candidates NCX 470 and NCX 4251 in the U.S. and key European markets, and to partner in other regions to maximize the value of our product pipeline,” Gavin Spencer, Chief Business Officer of Nicox, said in a company news release. “With three collaborations between us, Ocumension is now our strategic partner for the Chinese market with the resources to capitalize on the commercial opportunities in this rapidly expanding market. At present, we are in discussions with multiple parties for similar agreements in other regions for our pipeline.”
Ye Liu, Chief Executive Officer of Ocumension, said, “We are very pleased to extend our collaboration with Nicox to a third product and look forward to further integrating our team with our colleagues at Nicox. Ocumension is now well-placed to become a leading company in China in the ophthalmic space and we are preparing to expedite the local development of Nicox products.”