Nicox, Fera Pharmaceuticals Sign Exclusive License Agreement for Naproxcinod in US

Nicox S.A.

and Fera Pharmaceuticals, a privately-held specialty pharmaceutical company, announced today that they have entered into an exclusive license agreement for the development and commercialization of Nicox's naproxcinod, a CINOD (Cyclooxygenase-Inhibiting Nitric Oxide-Donating) anti-inflammatory candidate, in the United States. Fera's initial focus will be the signs and symptoms of osteoarthritis. Fera plans to seek advice from the United States Food and Drug Administration (FDA) regarding the additional clinical work required before submitting a New Drug Application (NDA) for naproxcinod. Nicox already completed a broad clinical program for naproxcinod in osteoarthritis, including three phase 3 studies with over 2,700 patients. Under the terms of the agreement, Nicox will be eligible to receive up to $35 million in sales-based milestones, plus 7 percent royalties based on net sales of naproxcinod in the U.S.  Fera will be responsible for, and will fully finance, all clinical development, manufacturing and commercialization activities. The agreement covers all indications excluding ophthalmology-related conditions and Duchenne Muscular Dystrophy (DMD), and Nicox will retain all rights for naproxcinod outside of the U.S.  Fera is eligible to receive an undisclosed royalty