Nicox Updates on Zerviate Progress in China and Expands the Countries of its Agreement with Ocumension Therapeutics
| Nicox SA announced that it has amended its March 2019 license agreement with Ocumension Therapeutics granting Ocumension exclusive rights to develop and commercialize Zerviate (cetirizine ophthalmic solution), 0.24% for the treatment of allergic conjunctivitis in the Chinese market. Under the amended agreement, Ocumension now also has exclusive rights of Zerviate in the majority of South East Asian Region. “In addition to the expansion of our deal with Ocumension on NCX 470, also announced today, we have decided to broaden our relationship on Zerviate, adding this important emerging area of Asian markets to the original license,” Gavin Spencer, Chief Business Officer of Nicox, said in a company news release. “Ocumension has commenced construction of a new manufacturing site in China which will ultimately be able to manufacture Zerviate and therefore be well-placed to supply these additional territories.” “The development teams at Ocumension and Nicox have been working together to prepare the Chinese IND. We expect to file this shortly and be in a position to start a phase 3 clinical trial for approval in China by Q4 2020,” Ye Liu, Chief Executive Officer of Ocumension, said in the news release. Amendment Agreement Terms Ocumension has exclusive rights in the original and expanded territories to develop and commercialize Zerviate for the treatment of allergic conjunctivitis. Other terms of the original agreement remain unchanged and Nicox may potentially receive development and sales milestones of up €17 million together with tiered royalties of between 5% and 9% on sales of Zerviate. | ||