Nicox enters agreement to acquire Aciex Therapeutics for up to $120 million
Nicox has signed an agreement to acquire outstanding equity in Aciex Therapeutics, a private U.S.-based ophthalmic pharmaceutical company.
The agreement includes a $65 million upfront payment in newly issued Nicox shares and contingent value rights to shares that may increase the purchase total to a maximum of $120 million, according to a news release from Nicox. Completion of the agreement is subject to the approval of Nicox shareholders and other conditions.
The acquisition would expand Nicox’s development pipeline to include Aciex’s AC-170 for allergic conjunctivitis, the release said. AC-170 has completed two phase 3 safety and efficacy trials. Nicox plans to seek a pre-NDA meeting before submitting a new drug application for AC-170. Another therapeutic candidate, AC-155, is being developed to treat postoperative inflammation and pain and is expected to begin a phase 2 trial next year.
“The combination with Aciex would enable Nicox to expand its therapeutic pipeline to target major segments of the ophthalmic sector, including the $816 million U.S. allergic conjunctivitis market,” Michele Garufi, chairman and CEO of Nicox, said in the release.