Bryan, Garnier & Co acts as Joint Global Coordinator & Joint Bookrunner on Nicox’ Euronext Paris EUR 10 million Follow-on Offering & Warrants issuance

Nicox is a French listed international ophthalmic company developing innovative solution to help maintain vision and improve ocular health.

Nicox’s main candidate NCX470 is set to become the best-in-class in glaucoma by capitalizing on the same dual mechanism of action as first generation VYZULTA (commercialized in U.S. and Canada) while leveraging Bimatoprost’s superiority in intraocular pressure reduction compared to latanoprost.

The second candidate NCX4251 could become the first treatment for blepharitis, one of the most common ocular diseases with no approved treatment yet.

Follow-on Offering proceeds will be mainly used to complete the final activities in the Mont Blanc trial on NCX 470; continue to progress the Denali trial on NCX 470; finance pharmaceutical development studies and regulatory activities to prepare for the submission of a New Drug Application to the U.S. Food and Drug Administration for NCX 470; and complete clinical trials aiming to demonstrate the dual mechanism of action and the potential beneficial effects of NCX 470 on the retina.

Alongside the offering, Nicox exercised its option to extend the period of interest-only payment of its existing EUR 18 million debt agreement with Kreos Capital by 6 months. The restructuring together with the private placement will extend the cash runway to mid-May 2024.

Acting as Joint Global Coordinator & Joint Bookrunner alongside H.C. Wainwright, Bryan, Garnier & Co helped to deliver a €10m private placement of shares and warrants for Nicox.

This is the 6th time Nicox relies on Bryan, Garnier & Co’s services for a capital raise, showcasing a full-service relationship with Research coverage and Corporate Advisory.

Nicox raised EUR 10m from the Tier-1 U.S. biotech specialist Armistice Capital. The pricing was set at EUR 1.46, representing a 14.1% discount to last close, and warrants’ terms were set at market, 100% coverage and 5-year maturity.

This is Bryan, Garnier & Co’s 5th European healthcare capital increase on Euronext Paris in 2022, demonstrating Bryan, Garnier & Co’s unique ability to raise capital for European healthcare companies in a highly competitive fundraising environment.

Nicox SA is an international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health. Nicox’s lead program in clinical development is NCX 470, a novel nitric oxide-donating prostaglandin analog, for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension.

The company is also conducting research on NCX 1728, a nitric oxide-donating phosphodiesterase 5 inhibitor, in intraocular pressure lowering and retinal conditions. NCX 4251, a novel, patented, ophthalmic suspension of fluticasone propionate nanocrystals for topical ocular application for dry eye disease, is being developed by Ocumension Therapeutics in China under an exclusive license agreement and is available for partnering elsewhere.

Nicox generates revenue from VYZULTA® in glaucoma, licensed exclusively worldwide to Bausch + Lomb, and ZERVIATE® in allergic conjunctivitis, licensed in multiple geographies, including to Eyevance Pharmaceuticals, LLC (a wholly-owned subsidiary of Santen Pharmaceutical Co., Ltd.), in the U.S. and Ocumension Therapeutics in the Chinese and in the majority of Southeast Asian markets.

Nicox is headquartered in Sophia Antipolis, France, is listed on Euronext Paris (Compartment B: Mid Caps; Ticker symbol: COX) and is part of the CAC Healthcare, CAC Pharma & Bio and Next 150 indexes.