Nicox Is Predicted To Receive Over 36.25 Million Euros During The Development As Well As Commercial Milestone Payments

Chinese firm named Ocumension Therapeutics and a Paris based French Ophthalmology Company named Nicox made an announcement this week that have signed a license that it totally exclusive and will allow them to produce and sell a drug made by the Nicox company in order to treat glaucoma in China, although the drug has not been approved yet. The World Health Organization stated that Glaucoma can be referred to as a damage caused to the optic nerve and causing blindness as well as is the second biggest reason that causes blindness all over the globe, it is important to look for a drug to treat or prevent the damage as the world population grows age wise. The treatment that are prescribed for glaucoma most commonly are Novartis’s Travatan, Allergan’s Lumigan and Pfizer’s Xalatan which is generically known as latanoprost. Vyzulta a previous drug used to treat glaucoma by the Nicox Drug Company was already approved by U.S is now planned to be invented in the next generation currently known as NCX 470, the drug is currently being tested in the phase II clinical trials. Nicox will be receiving royalties up to 6 to 12 percent on the net sales of the NCX 470 within China according to the agreement signed with the Ocumension. Although Ocumension will have to perform its own tests and clinical trials to approve the drug within its own country as well. Nicox is also predicted to receive over 36.25 million euros that is approximately 40.98 million dollars during the development as well as commercial milestone payments also consisting of the 3 million euro upfront payment.