Ophthalmology company Nicox SA (Euronext Growth Paris:ALCOX) announced on Tuesday that its Japanese partner Kowa Company Ltd has initiated a Phase 3 safety clinical trial of NCX 470 in Japan for the treatment of ocular hypertension.
The trial launch triggers a EUR2m milestone payment to Nicox under the February 2024 licensing agreement.
Kowa is fully responsible for financing and managing the development of NCX 470 in Japan.
Only one additional confirmatory Phase 3 trial, expected to begin shortly, along with the safety trial, is required for submission for marketing approval in Japan.
NCX 470, also known as K-911, is a novel ophthalmic candidate aimed at addressing ocular hypertension.
The enrolment of the first patient marks a key milestone in the collaborative development programme between Nicox and Kowa.
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