NicOx's acquisitions pay off as sales rocket to 4 million euros in third quarter

30 October 2014

French pharma company NicOx has achieved sales of 4 million euros ($5 million) in the third quarter of 2014, up from 0.3 million euros in the same quarter last year.

During the reporting quarter, the company acquired private US-based ophthalmic development pharma company Aciex Therapeutics, which has a strong near-term pipeline. The transaction includes contingent value rights giving rights to shares for a potential additional value of up to $55 million based on the potential US Food and Drug Administration approval of AC-170 and two additional undisclosed products within a pre-determined period.

NicOx also stands to receive potential additional regulatory and sales milestones from Bausch + Lomb on sales of Vesneo (latanoprostene bunod) due to a licensing agreement from March 2010. The therapy achieved positive top-line Phase III results this quarter to support FDA filing, and NicOx could make up to $132.5 million in milestones, in addition to net tiered royalties on sales.

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