NicOx to acquire Aciex Therapeutics
Ophthalmology-focused French biotech firm NicOx (Euronext Paris: COX) has entered into an agreement to acquire all of the outstanding equity of Aciex Therapeutics, a private, USA-based, ophthalmic development company with a strong near-term pipeline of therapeutics addressing major segments of the ophthalmic market, including allergy and inflammation.
The transaction, which is subject to the approval of NicOx’s shareholders, includes a $65 million upfront payment in newly-issued NicOx shares, plus contingent value rights (CVRs) giving right to shares, for a potential additional value of up to $55 million, as detailed below. The news, ahead of a conference call this afternoon, saw NicOx’s share rise 1.7% to 2.218 euros.
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