Nicox S.A. Nicox S.A. is a France-based international ophthalmology company that develops innovative therapeutics utilizing its proprietary nitric oxide (NO)-donating research platform to help maintain vision and improve ocular health, with operations spanning the United States, China, Japan, and other key international markets. Founded in 1996 and headquartered in Sophia Antipolis, France, the company focuses on treatments for glaucoma, allergic conjunctivitis, dry eye disease, blepharitis, and retinal conditions; its main commercialized products include VYZULTA (latanoprostene bunod ophthalmic solution) 0.024%, exclusively licensed worldwide to Bausch + Lomb Bausch Lomb Corporation for open-angle glaucoma and ocular hypertension in the United States and 15 other regions, and ZERVIATE (cetirizine ophthalmic solution) 0.24% for allergic conjunctivitis, licensed to partners including Eyevance Pharmaceuticals in the U.S., Ocumension Therapeutics in China and Southeast Asia where it achieved first commercial sale in December 2024, and others in additional territories. The company's pipeline features lead candidate NCX 470, a novel second-generation NO-donating bimatoprost eye drop that has completed Phase 3 clinical trials (Denali and Mont Blanc) demonstrating superior intraocular pressure lowering and sustained 12-month efficacy with positive results announced in August and October 2025 respectively, NCX 4251 a fluticasone formulation in clinical development for dry eye and blepharitis licensed exclusively to a partner in China, and NCX 1728 a preclinical NO-donating phosphodiesterase-5 inhibitor for retinal conditions in collaboration with Glaukos Corporation Glaukos Corporation. Recent major developments include a July 2025 agreement with Kowa Company Kowa Company, Ltd. worth up to €191.5 million granting exclusive rights to NCX 470 in the U.S. and unlicensed territories with Phase 3 initiation in Japan in August 2025 triggering €3 million in milestones, extension of cash runway into Q4 2025 via equity financing and debt restructuring, full enrollment and topline data from the Whistler Phase 3b trial in May 2025, approval and launch preparations for ZERVIATE in China in September 2024, a September 2024 research and global licensing option deal with Glaukos for NCX 1728, and a $16.5 million royalty and equity financing with Soleus in October 2024.