Nicox to acquire U.S. ophthalmic company Aciex Therapeutics

PARIS, July 2 Wed Jul 2, 2014 1:48am EDT

PARIS, July 2 (Reuters) - French pharmaceutical firm Nicox said on Wednesday it had agreed to acquire U.S. company Aciex Therapeutics Inc as it seeks to create an international ophthalmic company around therapeutics and diagnostics.

The deal includes a $65 million upfront payment in newly issued Nicox shares plus contingent value rights giving right to shares worth up to $55 million, Nicox said in a statement.

Nicox added that the deal would enable it to expand its therapeutic pipeline to target major segments of the ophthalmic sector, including the $816 million US allergic conjunctivitis market.

(Reporting by Natalie Huet)