05 July 2019 | News
Upfront payment of €2 million and potential future milestones of €10 million
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Nicox SA, an international ophthalmology company, and Ocumension Therapeutics have 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.
Nicox and Ocumension already collaborate on the development and commercialization of NCX 470 for glaucoma or ocular hypertension and ZERVIATETM for allergic conjunctivitis in mainland China, Hong Kong, Macau and Taiwan.
Ocumension is an ophthalmology company funded by 6 Dimensions Capital, one of the leading global healthcare investment funds, formed by the merger of Wuxi Healthcare Ventures and Frontline BioVentures.
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.