Date: 2014-09-16
Type of information: Company acquisition
Acquired company: Carragelose® anti-viral eye drop program owned by Marinomed Biotechnologie's subsidiary (Austria)
Acquiring company: Nicox (France)
Amount: €2.65 million in newly issued Nicox shares and up to €2.65 million in potential additional cash payment
Terms: * On September 16, 2014, Nicox announced that it has agreed to acquire the Carragelose® anti-viral eye drop program from Marinomed Biotechnologie of Austria for a total of €2.65 million in newly issued Nicox shares and up to €2.65 million in potential additional cash payments. The acquisition will provide Nicox with an innovative anti-viral ophthalmic product which could be launched in Europe within two years, pending CE marking, and which would complement AdenoPlus®, a diagnostic test for adenoviral conjunctivitis already marketed by the Company.
Details: Carragelose® (iota-carrageenan) is a sulphated galactose polymer derived from red seaweed with anti-viral properties. It inhibits viruses from binding to and entering human cells, reducing viral replication and associated symptoms. Carragelose® is already used in a variety of medical device products for cold and influenza including nasal sprays marketed in more than 17 countries through Marinomed’s commercial partners, including Boehringer Ingelheim. Carragelose® has demonstrated anti-viral activity in preclinical studies, including with three of the most important adenoviruses causing conjunctivitis. Nicox plans to conduct clinical studies with the Carragelose® anti-viral eye drop and believes that it could potentially be available in Europe in 2016 as a medical device. Nicox believes that the Carragelose® anti-viral eye drop could represent a new option in the management of patients with viral conjunctivitis, including those confirmed by a positive AdenoPlus® result. This point-of-care diagnostic aids in the rapid identification of adenovirus to assist in the differential diagnosis of acute conjunctivitis. Nicox in-licensed AdenoPlus® from Rapid Pathogen Screening, Inc. (RPS®) in 2012 and launched it in Europe in the first quarter of 2014.
Related: Ophtalmological diseases - Infectious diseases
