NicOx S.A. has signed a research, development and licensing agreement with Pfizer Inc related to selected proprietary NicOx nitric oxide-donating compounds.

Under the agreement, NicOx grants Pfizer an option to acquire an exclusive worldwide license covering early-stage nitric oxide-donating compounds in an undisclosed field. NicOx will receive a EUR 1 million in upfront payment and a further EUR 1 million payment after 6 months, with an additional EUR 35 million in milestone payments if the collaboration results in the successful commercial development of a product. NicOx will receive royalties in line with industry standards on sales of any successful product resulting from the research collaboration, release from NicOx said.

During the first phase of the collaboration, Pfizer and NicOx will be jointly responsible for research programmes under the supervision of a joint steering committee. NicOx will synthesize nitric oxide -donating compounds to be evaluated in a series of preclinical screening and characterization tests. Upon successful completion of the first phase of the collaboration, Pfizer will be responsible for funding the further development and future global commercialization of selected lead compounds.

Michele Garufi, chairman and CEO of NicOx, commented: "This agreement with Pfizer is a significant endorsement of our nitric oxide-donating technology and confirms NicOx's leading position in this field. We anticipate that this collaboration with the world's largest pharmaceutical company will enable us to accelerate our research and to identify the first drug candidate for development of this technology in the selected field of collaboration."

Martin Mackay, senior vice president, Worldwide Research & Technology of Pfizer Inc, added: "Pfizer is committed to exploring opportunities to collaborate with other organizations to generate new therapeutic agents for clinical investigation. We look forward to working with NicOx in this respect to develop nitric oxide -donating drug candidates with the potential to become important new medicines for the treatment of patients in an area of high medical need."

NicOx S.A. is an emerging pharmaceutical company involved in the research and development of nitric oxide-donating drugs with superior efficacy and safety profiles in the inflammation, pain and car diovascular therapeutic areas.