Sophia Antipolis: NicOx signs a global licensing agreement with RPS® for innovative tests
A global licensing agreement has been signed by NicOx for innovative ophthalmic diagnostics tests.
NicOx S.A. and Rapid Pathogen Screening, Inc (RPS®) today announce that they have entered into a licensing agreement giving NicOx access to RPS'® innovative diagnostic tests. The agreement grants NicOx worldwide rights to unique point-of-care tests in the ocular field. The first of these tests is AdenoPlus™, which is already authorized for sale in the United States and Europe. These tests are based on RPS'® patented technology and enable the practioner to diagnose specific ocular diseases and conditions quickly and accurately, in the consultation room.
The agreement gives NicOx the opportunity to deploy its business structures in the United States and Europe and market the first product, AdenoPlus™ by the end of 2012.
The worldwide licensing agreement also covers two additional diagnostic tests currently in development, one for the combined detection of Adenoviral and allergic conjunctivitis and the other to diagnose ocular herpes. In addition, NicOx has an exclusive worldwide option to negotiate an agreement for another promising product. This option is conditional on RPS® meeting certain milestones which include ongoing external discussions.
“RPS'® innovative and easy-to-use tests allow practitioners to make a more accurate diagnosis during the consultation, provide appropriate and timely treatment and reduce healthcare costs associated with the spread of disease and unnecessary antibiotic treatment. This collaboration will make RPS® products more easily accessible, allowing for better patient care and improved outcomes,” said Dr. Terrence O’Brien, Professor of Ophthalmology, Charlotte Breyer Rodgers Distinguished Chair in Ophthalmology and Director of the Refractive Surgery Service at Bascom Palmer Eye Institute of the Palm Beaches.
Dr. Gavin Spencer, Executive Vice President, Corporate Development of NicOx, commented: “RPS'® innovative range of patented diagnostic tests are addressing the growing demand from the global ophthalmic market for fast, accurate tests that are easy to use and can help guide treatment decisions. The launch of AdenoPlus™ will enable us to build the foundation for NicOx’s new commercial infrastructure. We continue to look for additional diagnostics and therapeutic products and we have identified a number of opportunities that we can use to improve and optimise our commercial organisation.”
Under the agreement, NicOx will pay RPS® a total of 4 million dollars for the license and option. The financial terms also include single-digit royalties and potential additional milestone payments of up to 2 million dollars. NicOx will also pay half of the development costs for the two products still in development, subject to a budget agreed between the companies.
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