Shares in the French biotechnology company NicOx have soared after Pfizer snapped up the rights to its pipeline of ophthalmology drugs.The $385 million deal is the biggest ever for NicOx, which specialises in new drugs associated with nitric oxide
.
Researchers believe a deficiency in the production of nitric oxide is related to certain diseases and that supplementing levels will help restore normal body functions. NicOx's most advanced molecule is a phase III treatment for osteoarthritis, but Pfizer has identified ophthalmology as being a particularly promising area.
The US giant has bought the exclusive rights to any drugs which emerge from NicOx's ophthalmology pipeline, having decided to commit to the alliance after promising results from pre-clinical trials.
Insiders' view: Part of the $100 billion biotech bonanza, as predicted in Pharmagossip!
Source: Pharmafocus
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