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Nicox receives Zerviate milestone payment from Eyevance

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The completion of regulatory and manufacturing activities for the launch of Zerviate in the U.S. has triggered a $3 million milestone payment from Eyevance Pharmaceuticals to Nicox, according to a press release.

The licensing agreement between the two companies, signed in September 2017, stipulated that Nicox would provide pre-launch manufacturing support and complete scale-up activities for manufacture of Zerviate (cetirizine ophthalmic solution 0.24%).

Nicox is eligible for an additional $37.5 million in milestone payments depending on sales target achievements, as well as tiered royalties of future sales.

Zerviate is a topical ocular antihistamine intended for treatment of itching associated with allergic conjunctivitis. The launch is projected in the first half of 2020.