NicOx launches a EUR70m rights issue
Nice – French NicOx SA has announced that it will be further increasing its capital with the aim of expanding the supply of its lead candidate Naproxcinod, and to implement a sales team in the US market, for which the company is seeking a pharmaceutical co-marketing partner. On top of a EUR30m private placement on 18 November, Nicox yesterday announced the launching of a rights issue of EUR70m. The offering of 20,040,585 new ordinary shares at a subscription price of EUR3.49 foresees preferential subscription rights for all existing shareholders, before closing on 9 December. According to Nicox CFO, Eric Castaldi, the company also intends to use the money to advance the clinical pipeline in ophthalmology and cardiometabolic diseases.