Nicox SA (Euronext Paris: FR0013018124, COX), an international ophthalmology company, today announced a financing through a private placement via the issuance of 3,529,565 new ordinary shares with gross proceeds of €15.0 million.
The Company was previously financed to complete both the Mont Blanc Phase 3 trial for NCX 470 and the Mississippi Phase 2b trial for NCX 4251. Proceeds from this financing extend the cash runway well beyond these key inflection points. Nicox’s principal shareholder HBM Healthcare Investments (SIX:HBMN), a leading, publicly listed healthcare investment fund was joined by new U.S. and European institutional investors in this financing.
Michele Garufi, Chairman and Chief Executive Officer of Nicox, said, “We are very pleased with the continued support from our long-term shareholder and would like to welcome the new specialist investors who participated in this financing. With a cash runway now well beyond the top-line results of two important trials of our lead product candidates, we are in the ideal position to capitalize optimally on the clinical results of both NCX 4251 and NCX 470 that are expected towards the end of next year.”