NicOx invests £2million in UK ophthalmic company
French pharmaceutical company NicOx has announced its decision to invest £2million into UK firm Altacor in order to create an international ophthalmic firm.
French pharmaceutical company NicOx has announced its decision to invest £2million into UK firm Altacor in order to create an international ophthalmic firm.
Altacor, specializing in treatments for ocular surface disease, ocular infection and glaucoma, hopes to build a late-stage development and commercial ophthalmology company with NicOx. They aim to focus on therapeutics, diagnostics and devices.
he collaboration will provide the opportunity to develop Altacor's leading candidate ALT-005, a surgical antiseptic for ocular infection, and SOLO, a device used to aid IOL insertion.
Dr Fran Crawfrod, Chief Executive Officer (CEO) of Altacor, commented, "Altacor and NicOx have developed a strong working relationship. The companies are strategically well aligned, both having similar perspectives on the emerging ophthalmology market. We therefore believe NicOx is an excellent partner for Altacor and the investment announced today will enable us to secure the development of the portfolio. NicOx’s R&D and partnering expertise will be of significant benefit as we progress our late-stage pipeline.”
Michele Garufi, CEO of NicOx, said, "The execution of this transaction is the first step in executing our strategy to become an international ophthalmology company. The acquisition of Altacor will also provide NicOx with an established infrastructure supporting sales in the UK and Ireland as a base for the future launch of additional products."
