King & Wood Mallesons has advised long standing client Nicox S.A., a pharmaceutical company listed on the NYSE Euronext Paris, on a development and licensing deal with Insite Vision Incorporated of the USA.

The deal, announced to the market on 2 February, grants Nicox development, manufacture and commercialisation rights in respect of Insite’s innovative ophthalmic therapeutics AzaSite (1% azithromycin), BromSite (0.075% bromfenac) and AzaSite Xtra (2% azithromycin). All three products are based on InSite’s proprietary Durasite® drug delivery technology, which is designed to extend the duration of a drug in the eye.

The deal grants Nicox exclusive rights to all three products in Europe, Middle East and Africa. European Marketing Authorization Applications (MAAs) for AzaSite and BromSite are expected to be filed by Q1 2016, with the first launch expected in late 2017.

Under the agreement, Nicox will pay Insite a total of $3 million in up-front license fees. The financial terms also include further regulatory and commercial milestone payments up to a total of $13.75 million as well as tiered, mid single-digit to double-digit royalties.

King & Wood Mallesons, which has acted for Nicox since its formation, negotiated and assisted the company in the negotiation of the Development and Licence Agreement documenting this deal.

Dr Gavin Spencer, Nicox’s Executive Vice President Corporate Development, added: “Andrew Shindler and his colleagues have broad experience in pharmaceutical licensing and, as in past deals, provided us with a strong legal team for the negotiations supported by an efficient and reliable legal back-office.”   

Andrew Shindler, a partner in King & Wood Mallesons’ Healthcare & Pharmaceuticals group, said: “We offer our congratulations to Nicox and Insite in concluding this deal, which represents another milestone in Nicox's development as an ophtha company. As ever, it was a pleasure working with the Nicox commercial team.”

The King & Wood Mallesons team was comprised of partner Andrew Shindler, managing associate Fiona Beatty and trainee Charlotte Roe.