Nicox and Kowa Enter into Agreement for NCX 470 Development and Commercialization in Japan

Press Release

Nicox and Kowa Enter into Agreement for NCX 470 Development and Commercialization in Japan

€3 million upfront payment and a total of a further potential €27.5 million in milestones Tiered royalties on net sales of 7% to 12% Kowa to be responsible for all development and commercialization costs for NCX 470 in Japan Upfront payment extends Nicox cash runway to September 2024

February 8, 2024 – release at 7:30 am CET
Sophia Antipolis, France



Nicox SA (Euronext Growth Paris: FR0013018124, ALCOX), an international ophthalmology company, today announced the signature of an agreement granting Kowa Company, Ltd., a Japanese company with a global pharmaceutical business engaged in ground-breaking research, development and marketing, exclusive Japanese rights to develop and commercialize NCX 470, Nicox’s nitric oxide (NO)-donating bimatoprost eye drop, for the lowering of intraocular pressure (IOP) in patients with glaucoma or ocular hypertension.



“We are very pleased to welcome Kowa as an exclusive partner for our lead asset, NCX 470, for the Japanese market. The interest of such an established ophthalmology player confirms the scientific and commercial opportunity for NCX 470 specifically for Japanese patients.” said Emmet Purtill, Vice President of Business Development at Nicox.   “Japan represents one of the largest regional markets for ophthalmic therapeutics and therefore this collaboration significantly strengthens the global potential revenue for NCX 470, which we estimate to be over $300 million in peak annual net sales.”



Terms of the Exclusive License Agreement



Under the terms of the exclusive licensing agreement, Kowa has the rights to develop and commercialize NCX 470 in Japan. Kowa shall make a non-refundable upfront payment of €3 million to Nicox, with a further potential €10 million in development and regulatory milestones, €17.5 million in sales milestones and tiered royalties from 7% to 12% on net sales. Kowa shall be responsible for all development, regulatory and commercialization costs for NCX 470 in Japan.