NicOx SA announces purchase of Nitromed's NO-donating patents
Apr 23, 2009 (M2 EQUITYBITES via COMTEX) -- NicOx SA, a product-driven biopharmaceutical company, declared on 23 April that the company has entered into an agreement to acquire Nitromed's unlicensed patent estate, covering nitric oxide-donating compounds, which will reportedly provide NicOx with the strongest intellectual property position on this technology worldwide, including a large number of new patents with potential uses in NicOx's core areas of inflammatory and cardiometabolic disorders.
Pursuant to the agreement, NicOx will pay Nitromed EUR2m at signature and an additional EUR4m upon NicOx fulfilling certain future business criteria. NicOx is not acquiring any rights to BiDil (isosorbide dinitrate/hydralazine hydrochloride).
The acquisition of Nitromed's unlicensed intellectual property portfolio on nitric oxide-donating compounds includes numerous composition of matter and treatment patents (as well as pending patent applications) in the United States and other important pharmaceutical markets, many of which have expiration dates later than 2020. These include a large number with potential uses for inflammatory and cardiometabolic disorders, which are core areas of focus for NicOx's internal research and development.
In addition, NicOx is taking royalty free licences to additional patents under this agreement, which it considers strategically important.