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Nicox, Ocumension enter deal for development of Zerviate in Chinese market
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Nicox has entered into an exclusive development and commercialization license agreement with Ocumension Therapeutics for Zerviate, Nicox’s allergic conjunctivitis treatment, according to a press release.
Under the terms of the agreement, Nicox may receive up to 17 million euros in milestone payments, plus royalties between 5% and 9%, and Ocumension will receive exclusive development and commercialization rights in China, Hong Kong, Macau and Taiwan for Zerviate (cetirizine ophthalmic solution 0.24%).
“Zerviate brings Ocumension an additional late-stage opportunity and expands our therapeutic area coverage into ocular allergy,” Ye Liu, CEO of Ocumension, said in the release. “We very much appreciate the collaboration with the Nicox team, and this deal further strengthens our relationship with one of the leading R&D companies in the ophthalmology space.”
In order to gain regulatory approval, Ocumension will conduct additional clinical studies, which will be overseen by a joint development committee and paid for by Ocumension.