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Nicox transfers international commercial operations to GHO Capital
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Nicox has entered into an agreement with GHO Capital to transfer its European and international commercial operations, valued at up to €26 million, to a newly founded private company focused on the commercialization of a portfolio of ophthalmic products in Europe, according to a press release from Nicox.
Rights to Nicox’s unencumbered research and development pipeline programs, which includes AC-170 for allergic conjunctivitis, among others, will remain with Nicox. Furthermore, “rights under the latanoprostene bunod agreement with Bausch + Lomb remain entirely with Nicox,” the release said. Both programs have FDA Prescription Drug User Fee Act dates in 2016.
“We see this agreement as a true collaboration, bringing together GHO Capital’s longstanding investment expertise and Nicox’s commercial and therapeutic knowledge in the ophthalmology space. Nicox will remain involved in the new organization as an equity stakeholder and as a business partner,” Michele Garufi, chairman and CEO of Nicox, said in the release.
Nicox will receive an aggregate of €12 million as a combination of €9 million cash plus ordinary shares and interest-bearing loan notes, according to the release.
GHO Capital is structuring the new company to include Nicox Pharma in France, Spain and the U.K., Nicox GmbH in Germany, Laboratoires Nicox in France and Nicox Farma in Italy, the release said.