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Nicox to acquire Doliage for €5 million in newly issued stock
Nicox has entered into an agreement to acquire the privately held French ophthalmic company Doliage, the company announced in a press release.
Under the terms of the agreement, Nicox would obtain 100% of Doliage shares in exchange for newly issued Nicox shares totaling €5 million. The number of shares issued would be based on the volume-weighted average closing price of Nicox shares during a 20-day period before the agreement is executed.
The acquisition of Doliage may be completed in the next few weeks, pending French regulatory review, and is part of Nicox’s strategy to develop an ophthalmic commercial infrastructure in the five major European markets, according to the press release.
In a separate transaction, Nicox has acquired the Carragelose (iota-carrageenan) antiviral eye drop from Marinomed Biotechnologie in exchange for €2.65 million in newly issued Nicox shares and up to €2.65 million in cash.
The acquisition of Carragelose provides Nicox with an innovative antiviral agent that may be launched in Europe within 2 years, provided it obtains CE mark approval. The product complements Nicox’s AdenoPlus, a point-of-care diagnostic test for adenoviral conjunctivitis, according to a separate press release.