NicOx signs extension of ophthalmology agreement with Pfizer

09-Jan-2008

NicOx S.A. announced it has signed an extension of its March 2006 collaboration agreement, which grants Pfizer Inc the exclusive right to apply its proprietary nitric oxide-donating technology to drug discovery research in the field of ophthalmology. This one-year extension of the research phase of the agreement will result in NicOx receiving EUR 3 million in research funding in March 2008 and prolongs Pfizer's option to license resulting compounds until May 2009.

The joint NicOx-Pfizer research team has been focusing its work on several separate projects, which have involved identifying and testing different classes of nitric oxide-donating compounds that could become treatments for major ocular diseases. In the most advanced project, encouraging results have been observed for various compounds in in vitro and in vivo preclinical models of a prevalent eye disease.

Under the terms of the agreement, Pfizer paid NicOx an upfront technology license fee of EUR 5 million and made a EUR 15 million equity investment in the Company during 2006. Pfizer has also paid NicOx EUR 6 million in research funding since signature, in the form of two annual payments of EUR 3 million in 2006 and 2007. NicOx will receive a further EUR 3 million in research funding in 2008, due to this extension of the research phase of the agreement. Pfizer now has the option to obtain an exclusive worldwide license to develop and commercialize compounds resulting from the research program, in the field of ophthalmology until May 2009. The agreement provides for total potential milestone payments in excess of EUR 300 million in the ophthalmology field, of which EUR 102 million would arise from the successful full development and launch of the first compound.

https://www.bionity.com/en/news/76296/nicox-signs-extension-of-ophthalmology-agreement-with-pfizer.html