SOPHIA ANTIPOLIS, France, June 2 /PRNewswire-FirstCall/ -- www.nicox.com -- NicOx S.A. (Eurolist: NICOX) today announced an increase of its share capital reserved for a company of the Pfizer group, resulting in proceeds of euro 15 million.
The equity investment forms part of the agreement between Pfizer Inc and NicOx announced on March 2nd 2006, which granted Pfizer the exclusive right to apply NicOx' proprietary nitric oxide-donating technology across the entire field of ophthalmology. To date, NicOx has received euro 8 million in connection with this agreement and stands to receive total potential milestones in excess of euro 300 million in the ophthalmology field, plus royalties on each resulting marketed product.
The share capital increase was approved by the extraordinary shareholders' meeting held on June 1, 2006, and involves the issuance of 1,350,135 new shares. The subscription price of the new shares is euro 11.11, including additional paid-in capital, and was calculated by applying a 4.9% premium to the average closing price of NicOx shares on the Eurolist of Euronext in the twenty days preceding the extraordinary shareholders' meeting, in accordance with the terms of the agreement between NicOx and Pfizer. Following the completion of the increase in share capital, the 1,350,135 newly issued shares will represent 3.68% of the issued share capital before the increase and 3.55% after the increase. The settlement-delivery of the new shares will take place on June 9, 2006.
NicOx S.A. (Bloomberg: COX:FP, Reuters: NCOX.PA) is a product-driven biopharmaceutical company dedicated to the development of nitric oxide-donating drugs to meet unmet medical needs. NicOx is targeting the therapeutic areas of pain and inflammation and cardio-metabolic disease. Resources are focused on two lead compounds, HCT 3012, in phase 3 development for the treatment of osteoarthritis, and NCX 4016, in phase 2 for Peripheral Arterial Obstructive Disease (PAOD). NicOx has strategic partnerships with some of the world's leading pharmaceutical companies, including Pfizer Inc. and Merck and Co., Inc.
NicOx S.A. is headquartered in Sophia-Antipolis, France, and is a public company listed on the Eurolist of Euronext Paris (segment: Next Economy).
The elements included in this communication may contain forward-looking statements subject to certain risks and uncertainties. Actual results of the company may differ materially from those indicated in the forward-looking statements because of different risks factors described in the company's document de reference.
CONTACTS: NicOx: Karl Hanks - Manager of Corporate Relations and Market Analysis - Tel +33 (0)497 15 22 03 - hanks@nicox.com - www.nicox.com Investors in the United States - Burns McClellan: Lisa Burns - lburns@burnsmc.com / Laura Siino - lsiino@burnsmc.com - Tel +1 212 213 0006 Financial Dynamics: Jonathan Birt - Tel +1 212 850 56 34 - jbirt@fd-us.com / Julia Phillips - Tel +44 (0)20 7831 3113 - julia.phillips@fd.com
NicOx S.A.CONTACT: Karl Hanks, Manager of Corporate Relations and Market Analysis ofNicOx, +33-497-15-22-03, or hanks@nicox.com; or Investors in the UnitedStates: Lisa Burns, lburns@burnsmc.com, or Laura Siino, lsiino@burnsmc.com,both of Burns McClellan, +1-212-213-0006; or Jonathan Birt,+1-212-850-5634, or jbirt@fd-us.com, or Julia Phillips, +44-20-7831-3113,or julia.phillips@fd.com, both of Financial Dynamics
Web site: http://www.nicox.com/
