Bryan, Garnier & Co acts as Sole Global Coordinator & Sole Bookrunner on Nicox’s Euronext Paris EUR 3.3m Rights Issue

Nicox is an international ophthalmic company developing innovative solutions to help maintain vision and improve ocular health.

Nicox’s leading candidate, NCX470, is poised to become best-in-class for glaucoma treatment. It utilises the same dual mechanism of action as the first-generation VYZULTA (commercialised in the U.S. and Canada), while also leveraging Bimatoprost’s superior intraocular pressure reduction compared to Latanoprost.
Nicox plans to allocate the net proceeds from the rights issue as follows:
  • Approximately 75% will be dedicated to developing NCX470, covering associated fees and tax refunds from the French research tax credit.
  • Approximately 25% will be allocated to general and administrative expenses, excluding interest payments on our debts, which will be covered by licensing revenues.

Bryan, Garnier & Co acted as Sole Global Coordinator & Sole Bookrunner on Nicox €3.3m rights issue with warrants attached.

The subscription price was set at €0.25 per share with warrants attached, representing a 29.8% discount to last close and a 25.1% discount to TERP.

Warrants have a parity of 5 warrants for 2 new shares, 2-year maturity and an exercise price of €0.275, i.e. a 10% strike premium vs. the subscription price.

Ocumension Therapeutics, the historical partner of Nicox, will hold 4.8% of share capital following the offering and will become the largest shareholder of Nicox.
This is the eighth consecutive capital raise Bryan, Garnier & Co has led for Nicox since 2015, raising about €127 million in cumulated value and demonstrating Bryan, Garnier & Co dedicated commitment to supporting its clients.

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 bimatoprost eye drop, for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension.  Nicox generates revenue from VYZULTA® in glaucoma, licensed exclusively worldwide to Bausch + Lomb, and ZERVIATE® in allergic conjunctivitis, licensed in multiple geographies, including to Harrow, Inc. in the U.S., and Ocumension Therapeutics in the Chinese and in the majority of Southeast Asian markets.