NicOx to receive 1M euros from Pfizer deal

French biopharmaceutical company NicOx SA says that US drug major Pfizer has initiated the first in a series of planned clinical trials of the glaucoma treatment PF-03187207, a nitric oxide donating prostaglandin analog that the firms developed under a 2004 agreement (Marketletters passim). The Sophia Antipolis-headquartered NicOx added that initiation of the trial, which follows the US Food and Drug Administration's acceptance of an Investigational New Drug application earlier this year, triggers a 1.0 million euro ($1.3 million) milestone from Pfizer.

NicOx said that it has so far received 5.0 million euros, including this payment, from Pfizer as a result of the collaboration, and may get as much as 32.0 million euros in total. In addition, the French firm is entitled to royalties based on the sale of any products that are successfully commercialized.