The Vienna-based biotech company Marinomed Biotechnologie GmbH announced today the closing of a deal with Nicox S.A., an international company listed at Euronext Paris (COX) and focused on the ophthalmic market. Under the terms of the agreement Nicox acquires Marinomed's Carragelose® anti-viral eye drop program including all related rights, data, materials and information. The total acquisition price paid to Marinomed is up to € 5.3 Mio, including € 2.65 Mio in newly issued Nicox shares and up to € 2.65 million in potential additional cash payments. Nicox will conduct clinical studies in order to launch a medical product for the management of viral conjunctivitis potentially within the next two years.
Commenting on the company's most recent deal, Dr. Andreas Grassauer, CEO of Marinomed, says: "Viral conjunctivitis is a medical condition for which currently no etiological treatment exists. Our deal enables Nicox to potentially change just that. It combines Nicox's ophthalmic market experience with the anti-viral potential of Carragelose®. This is good news for the many people affected by viral conjunctivitis every year."
Marinomed's Carragelose® anti-viral eye drop program is based on the proprietary Mavirex® technology platform which led to the development of Carragelose® – a polymer from red algae with remarkable anti-viral effects. Currently Marinomed exploits the anti-viral potential of Carragelose® in a variety of medical device products for respiratory viral infections. The anti-viral efficacy of Carragelose® in these sprays was convincingly demonstrated in clinical trials with more than 450 patients.
Furthermore, Marinomed succeeded in preclinical studies to show anti-viral activity of Carragelose® against three of the most important adenoviruses causing viral conjunctivitis. In general, conjunctivitis can be caused by allergic reactions, bacteria or viruses. Viral conjunctivitis is caused in 90% of all cases by adenoviruses and a test marketed by Nicox assists in the rapid identification of these.
With the closure of this deal Marinomed continues a remarkable progress with launching Carragelose®-based health products. Within a few years Marinomed's nasal sprays against respiratory viral infections have been approved in 43 countries already. In all products Carragelose® works by coating viruses, thereby preventing them from attaching to and penetrating the cells of the mucous membranes. In addition, the properties of the polymer provide a soothing and protective film of moisture on the mucous membranes. It is the first polymer developed by Marinomed using its technology platform Mavirex® which exploits anti-viral effects of polymers from red algae.
About Marinomed Biotechnologie GmbH (as of September 2014)
Marinomed Biotechnologie GmbH, headquartered in Vienna, Austria, is focused on the discovery and development of highly innovative anti-viral and immunological treatments. The Company has developed MAVIREX, a technology platform that targets more than 200 different virus strains based on Carragelose®, a naturally derived, sulphated galactose polymer from red seaweed with unique anti-viral properties. The technology has been successfully commercialized with three anti-viral nasal sprays launched internationally into the OTC market. Marinomed Biotechnologie GmbH was founded in 2006 as a spin-off from the Veterinary University Vienna. For more information, please visit www.marinomed.com.
About Nicox (as of September 2014)
Nicox (Bloomberg: COX:FP, Reuters: NCOX.PA) is an emerging international company focused on the ophthalmic market. With a heritage of innovative R&D, business development and commercial expertise, the Nicox team is building a diversified portfolio of therapies and diagnostic tools that can help people to enhance their sight. The Company’s commercial portfolio and near-term pipeline already include several innovative diagnostic tests intended for eye care professionals, as well as a range of eye care products. Nicox’s key proprietary asset in ophthalmology is latanoprostene bunod, a novel compound based on Nicox’s proprietary nitric oxide (NO)-donating R&D platform, currently in Phase 3 clinical development in collaboration with Bausch + Lomb for the potential treatment of glaucoma and ocular hypertension. Further NO-donors are under development, notably through partners.
Nicox is headquartered in France, with research capabilities in Italy, a growing commercial infrastructure in North America and in the major European markets and an expanding international presence through partners. Nicox S.A. is listed on Euronext Paris (Compartment B: Mid Caps). For more information on Nicox or its products please visit www.nicox.com.