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Nicox enters agreement with Eyevance for US commercialization of Zerviate
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Nicox has signed an exclusive licensing agreement with Eyevance Pharmaceuticals for the commercialization of Zerviate in the United States, according to a Nicox press release.
Eyevance will make a one-time upfront payment of $6 million to Nicox under the agreement, and Nicox is eligible to receive up to $42.5 million in future milestones.
Zerviate (cetirizine ophthalmic solution 0.24%) is targeted to be launched in the U.S. in late 2018, the release said. The FDA approved the topical ocular formulation of cetirizine for ocular itching associated with allergic conjunctivitis in May.
“We believe that Eyevance, led by its experienced executive management team, has the financial resources and know-how to execute the planned launch of Zerviate and to maximize the commercial potential of this unique product in the U.S. market,” Gavin Spencer, executive vice president of corporate development at Nicox, said in the release. “The FDA approval of Zerviate, together with the commercial experience and ophthalmic expertise of Eyevance, provides us with a strong foundation on which to begin pursuing the expansion of Zerviate into additional markets.”