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NicOx Eyes Continued Comeback with Second Pfizer Deal

In early March, Pfizer licensed all ophthalmic rights to NicOx's nitric-oxide donating technology platform, just months after selecting and licensing a preclinical glaucoma candidate from the firms' previous, more narrow, collaboration. The moves have buoyed NicOx, which has been in the investor doghouse since 2003 when AstraZeneca chose to discontinue development of the firm's lead product, which was in Phase II trials for osteoarthritis pain.

Two boosts from Pfizer Inc. have provided NicOx SA its most significant good news since the rug was pulled out from under the firm more than three years ago, helping it emerge from the hole created when AstraZeneca PLC handed back rights to its lead compound in early 2003. The moves also reflect the benefits to biotechs of monetizing noncore and early-stage assets.

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