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NicOx extends partnership with Pfizer

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SOPHIA ANTIPOLIS, France — NicOx has signed a 1-year extension for a partnership agreement that grants Pfizer the exclusive right to apply NicOx's nitric oxide-donating technology to ophthalmic drug discovery research, according to a press release from NicOx.

The extension will result in NicOx receiving Euro 3 million in research funding in March and will prolong Pfizer's option to license, develop and globally market any resulting compounds until May 2009, the release said.

Under the terms of the agreement, Pfizer paid NicOx an initial licensing fee of Euro 5 million and ventured Euro 15 million in NicOx equity in 2006. Pfizer has also paid NicOx Euro 6 million in research funding through two annual payments of Euro 3 million in 2006 and 2007.

The agreement could potentially result in payments of more than Euro 300 million, of which Euro 102 million would stem from the discovery, development and launch of the first compound.

An earlier collaboration agreement between the two companies developed nitric oxide-donating prostaglandin F2-alpha analogs for the treatment of glaucoma. A selected treatment, called PF-03187207, is currently in phase 2 clinical development in the United States and Japan.