NicOx licenses glaucoma drug to Bausch & Lomb
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TEL AVIV (MarketWatch) -- NicOx, (NICXF 7.00, -1.05, -13.04%) (FR:COX 5.29, +0.19, +3.65%) the Sophia Antipolis, France, drug developer, licensed the worldwide rights to NCX 116, a treatment for glaucoma and ocular hypertension, to Bausch & Lomb, the companies said on Wednesday. The results of two completed Phase II studies of the drug were "promising," NicOx and the Rochester, N.Y., eye-care specialist, controlled by the private equity firm Warburg Pincus, said. Under the terms, Bausch & Lomb will pay NicOx $10 million up front plus milestone payments of as much as $169.5 million. NicOx is also eligible for tiered double-digit royalties on sales. And NicOx has the option to co-promote NCX 116 products in the U.S., the companies said.