Nicox to acquire Aciex

Nicox S.A. (Euronext:COX) announced it will acquire ophthalmic play Aciex Therapeutics Inc. (Westborough, Mass.) in a stock deal worth up to $120 million. Aciex shareholders will receive an upfront stock payment of $65 million and contingent value rights (CVRs) worth up to $55 million in Nicox shares tied to the U.S. approval of Aciex's AC-170 and two undisclosed products. Excluding the CVRs, Aciex shareholders will hold a 21.5% stake in Nicox when the deal closes.

AC-170, a topical formulation of antihistamine cetirizine, has completed Phase III testing to treat allergic conjunctivitis. Nicox plans to seek a pre-NDA meeting with FDA by 1Q15. Nicox's lead compound, latanoprostene bunod, is in Phase III testing to reduce intraocular pressure in patients with glaucoma and ocular hypertension with top-line data slated for 4Q14. ...