Date: 2016-01-29
Type of information: Licensing agreement
Compound: AC-120
Company: Nicox (France) Ora (USA - MA)
Therapeutic area: Ophtalmological diseases
Type agreement: licensing
Action mechanism: AC-120 is an eye drop that targets morning eyelid swelling (also known as ‘puffy eyes’), a common complaint
of aging individuals, particularly women, and a condition with a range of different causes.
Disease: morning eyelid swelling
Details: * On January 29, 2016, Nicox and Ora, Inc, a leading ophthalmic clinical research and product development firm, announced that Nicox’s subsidiary Nicox Ophthalmics, Inc. and Ora entered into a license agreement granting Ora exclusive worldwide rights for the development and commercialization of Nicox’s AC-120, an innovative drug candidate for morning eyelid swelling. In a Phase 2 clinical program conducted by Aciex and Ora, treatment with AC-120 led to a reduction in morning eyelid swelling with results that showed statistical significance. AC-120 was also well tolerated, with no adverse effects noted. Nicox acquired AC-120 in October 2014 as part of the acquisition of Aciex Therapeutics, which was since renamed Nicox Ophthalmics, Inc. Under the terms of the acquisition of Aciex, Nicox could pay up to $10 million in Nicox shares to Aciex’s former shareholders if AC-120 is approved by the FDA.
Under the terms of the exclusive license agreement, 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 FDA. Nicox is also eligible to receive a percentage of any proceeds received by Ora under a potential sub-license agreement.
Financial terms:
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