Nicox Appoints Experienced Biotech Executive Gavin Spencer as CEO

Press Release

Nicox Appoints Experienced Biotech Executive Gavin Spencer as CEO

• More than 25 years of experience in senior business development and corporate roles, with over 6 years as Chief Business Officer of Nicox
• Initial focus on securing financing to complete Phase 3 trial of NCX 470, Denali
• Focus on concluding strategic and/or partnership agreements, in particular a licence agreement in the United States for the NCX 470

February 28, 2024 – release at 7:30 am CET
Sophia Antipolis, France

Nicox SA (Euronext Growth Paris: FR0013018124, ALCOX), an international ophthalmology company, today announced its Board of Directors has appointed the highly experienced biotech executive Gavin Spencer as Chief Executive Officer. The appointment has immediate effect, following the Board’s decision to end the mandate of Andreas Segerros.

Gavin Spencer was most recently Executive Vice-President, Chief Business Officer & Head of Corporate Development at Nicox. He has spent more than 25 years in the life sciences industry and combines strong business acumen with a solid scientific background and broad strategic, financial, corporate development, commercial and operational management experience in biotechs and large pharma.

"I am delighted to welcome Gavin Spencer to his new role as CEO of Nicox. Gavin brings exhaustive industry experience, particularly related to strategic partnership agreements and financing. He has a deep understanding of Nicox and how to deliver on the Company’s potential, having been involved in all aspects of our activities over many years. We have reported positive results on our lead asset NCX 470 in its first Phase 3 trial in glaucoma, and Gavin’s initial focus will be on enabling Nicox to generate the additional data necessary for a New Drug Application for NCX 470. Gavin’s financial experience will be vital in moving this process forward, and his finesse and judgement will be equally important in our strategic and partnering discussions,” said Jean-François Labbe, Chairman of the Board of Directors of Nicox.

During his time with Nicox, since 2005, Gavin Spencer has had a key role in building and managing Nicox’s partnerships, including closing agreements with Pfizer, Bausch + Lomb, VISUfarma and Ocumension Therapeutics. He has been involved in equity raising and investor relations at Nicox for many years and has led the Company’s recent financing activities. He has previously worked at Novartis Consumer Health and Boots Healthcare International and holds a Ph.D. in chemistry from the University of Aberdeen.

"It is an exciting time for Nicox as we move towards the Phase 3 data from the second pivotal glaucoma trial of NCX 470, Denali, which we are conducting with our long-term Chinese partner, Ocumension Therapeutics. Interest in this innovative compound has been further validated by our recently announced Japanese licensing agreement with Kowa. While our re-negotiated debt agreement, also announced today, provides us valuable additional cash runway, we are working to put financing in place to complete the Denali trial. With full data from this trial, we believe we will be in a position to partner this innovative treatment for glaucoma in other territories, including the United States. Added to our current licensing revenue from VYZULTA and ZERVIATE, existing and future NCX 470 partnerships would generate additional royalty revenue on sales which we forecast could exceed $300 million worldwide, within 8 years of the date of launches in the U.S. and China” said Gavin Spencer, CEO of Nicox.

About Nicox

Nicox SA is an international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health. Nicox’s lead program in clinical development is NCX 470, a novel nitric oxide-donating bimatoprost eye drop, for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension. Nicox generates revenue from VYZULTA^® in glaucoma, licensed exclusively worldwide to Bausch + Lomb, and ZERVIATE^® in allergic conjunctivitis, licensed in multiple geographies, including to Harrow, Inc. in the U.S., and Ocumension Therapeutics in the Chinese and in the majority of Southeast Asian markets.

Nicox, headquartered in Sophia Antipolis, France, is listed on Euronext Growth Paris (Ticker symbol: ALCOX) and is part of the CAC Healthcare index.

For more information on Nicox, its products or pipeline, please visit: www.nicox.com.

Analyst coverage

Bryan, Garnier & Co         Eric Yoo        Paris, France
H.C. Wainwright & Co        Yi Chen        New York, U.S.

The views expressed by analysts in their coverage of Nicox are those of the author and do not reflect the views of Nicox. Additionally, the information contained in their reports may not be correct or current. Nicox disavows any obligation to correct or to update the information contained in analyst reports.
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Forward-Looking Statements

The information contained in this document may be modified without prior notice. This information includes forward-looking statements. Such forward-looking statements are not guarantees of future performance. These statements are based on current expectations or beliefs of the management of Nicox S.A. and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Nicox S.A. and its affiliates, directors, officers, employees, advisers or agents, do not undertake, nor do they have any obligation, to provide updates or to revise any forward-looking statements.

Risks factors which are likely to have a material effect on Nicox’s business are presented in section 2.7 of the "Rapport Annuel 2022” and in section 4 of the "Rapport semestriel financier et d’activité 2023” which are available on Nicox’s website (www.nicox.com).

Nicox S.A.
Sundesk Sophia Antipolis, Bâtiment C, Emerald Square, Rue Evariste Galois, 06410 Biot, France
T +33 (0)4 97 24 53 00

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