Nicox out-licenses OTC asset AC-120 to Ora Inc

30 January 2016

Nicox Ophthalmics, a subsidiary of French drugmaker Nicox (Euronext: COX), and USA-based ophthalmic clinical research and product development Ora Inc have entered into a license agreement granting Ora exclusive worldwide rights for the development and commercialization of Nicox' AC-120, an innovative drug-candidate for morning eyelid swelling.

Under the terms of the exclusive license agreement announced on Friday, Ora will be responsible for all development activities and will fund this program through its investment arm. Ora plans to advance the clinical development of AC-120 and to subsequently sub-license this compound to a third party for future commercialization.

Nicox is eligible to receive a $10 million milestone payment from Ora upon approval of AC-120 by the US Food and Drug Administration . Nicox is also eligible to receive a percentage of any proceeds received by Ora under a potential sub-license agreement.

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