Nicox S.A, Aciex Therapeutics deal
Nicox will acquire ophthalmic play Aciex in a stock deal worth up to $120 million. Aciex shareholders will receive an upfront payment of $65 million through the issue of 20.6 million Nicox shares, plus contingent value rights (CVRs) worth up to $55 million in Nicox shares tied to the U.S. approval of AC-170 and two undisclosed products. Aciex shareholders are eligible to receive $35 million for the approval of AC-170 on or before the earlier of 18 months after the filing of an NDA or Dec. 1, 2016 - or $10 million if the approval is granted after this date but on or before the earlier of 30 months after the filing or Dec. 1, 2017; and $10 million each for the following two approvals by July 1, 2021.
AC-170, a topical formulation of antihistamine cetirizine, has completed Phase III testing to treat allergic conjunctivitis. Nicox plans to seek a pre-NDA meeting with FDA by 1Q15. Nicox’s latanoprostene bunod is in Phase III testing to reduce intraocular pressure in patients with glaucoma and ocular hypertension, with top-line data slated for 4Q14. Bausch + Lomb Inc., which Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX, Montreal, Quebec) acquired, has exclusive, worldwide rights to the nitric oxide (NO)-donating prostaglandin F2-alpha analog from Nicox. ...