Nicox, Ora enter into licensing agreement for AC-120 for morning eyelid swelling

Nicox has entered into a licensing agreement that grants Ora exclusive worldwide rights for the development and commercialization of Nicox’s AC-120 for the treatment of morning eyelid swelling, according to a press release.

Under the terms of the agreement, Ora will be responsible for development activities and funding of the program through its investment arm.

If AC-120 is approved by the FDA, Nicox will be eligible to receive a $10 million milestone payment from Ora. Nicox will also be eligible to receive a percentage of any proceeds received by Ora under a potential sublicense agreement, the release said.

“We believe Ora is the perfect partner to further develop this compound based on their experience and ability to define the clinical-regulatory pathway and identify the best commercial partner thanks to its extensive relationships in the industry,” Gavin Spencer, executive vice president of corporate development of Nicox, said in the release.