ARTICLE | Company News

NicOx SA, Pfizer deal

March 6, 2006 8:00 AM UTC

PFE licensed exclusive rights to use Nicox's nitric oxide (NO)-donating technology for ophthalmology research. PFE also has an option to license exclusive worldwide rights to NO-donating compounds for ophthalmic indications. The most advanced compound is in preclinical development.

Nicox will receive E8 million ($9.5 million) up front and is eligible for E300 million ($356 million) in milestones, plus royalties. Also, PFE will make a E15 million ($17.8 million) equity investment in Nicox this year at a 4.9% premium to Nicox's share price at the time of purchase. Nicox also will receive E3 million ($3.6 million) in annual research funding. ...