- Business
- Nicox S.A. Nicox S.A. (Euronext Growth Paris: ALCOX) is an international ophthalmology company that develops innovative therapeutics to help maintain vision and improve ocular health; its lead product candidate is NCX 470, a nitric oxide (NO)-donating bimatoprost eye drop formulation in Phase 3 clinical development for open-angle glaucoma and ocular hypertension, demonstrating non-inferiority to latanoprost in the pivotal Mont Blanc trial with sustained efficacy through 12 months in the ongoing Denali trial, alongside potential retinal benefits observed in preclinical models; the pipeline also includes NCX 4251, a fluticasone propionate nanocrystal suspension in Phase 2b for dry eye disease, and NCX 1728, an NO-donating phosphodiesterase-5 inhibitor in preclinical evaluation for retinal conditions and intraocular pressure lowering; the company generates recurrent royalty revenue from partnered products including VYZULTA (latanoprostene bunod ophthalmic solution 0.024%), commercialized by Bausch + Lomb for glaucoma in over 15 countries with U.S. patent extension to 2029, and ZERVIATE (cetirizine ophthalmic solution 0.24%), approved in the U.S. by Harrow and launched commercially in China by Ocumension Therapeutics following approval in September 2024, with rights also in Southeast Asia. Nicox S.A. was founded in 1996 and is headquartered in Biot, France, near Sophia Antipolis, with a U.S. subsidiary Nicox Ophthalmics, Inc. in Durham, North Carolina, focused on development; it maintains direct commercial presence or partnerships in key markets including Europe (Germany, France, UK, Italy, Spain), the U.S., Japan, China, and international territories, targeting eye care practitioners and patients with unmet needs in glaucoma, dry eye, and allergic conjunctivitis. Recent developments include a July 2025 agreement with Kowa Company worth up to €191.5 million granting exclusive rights to NCX 470 in the U.S. and all remaining unlicensed territories, building on prior Japan rights signed in February 2024; positive topline results from the Phase 3 Denali trial announced August 2025 confirming efficacy and safety; expectation of full financial debt repayment by 2026 following NCX 470 de-risking and global licensing, with NDA submissions planned for the U.S. in H1 2026 and China thereafter; Kowa's initiation of NCX 470 Phase 3 in Japan in August 2025; first commercial sales of ZERVIATE in China in December 2024 creating new recurrent revenue; a September 2024 research and global licensing option agreement for NCX 1728 with Glaukos; leadership changes including Gavin Spencer's appointment as CEO in February 2024, Damian Marron as Board Chair in July 2024, and equity financing of €3.3 million in June 2024 to extend cash runway.