Nicox SA and Ora Inc. have sealed an exclusive global license agreement on the development and distribution of Nicox's AC-120, an innovative drug candidate for morning eyelid swelling. AC-120 is an eye drop that targets morning eyelid swelling, a common complaint of aging individuals. Under the agreement, Ora will handle and fund the product's clinical development.

Later on, the company plans to sub-license this compound to a third party for future commercialisation. Nicox will be eligible to receive a USD 10 million (EUR 9.2 million) milestone payment from Ora upon approval of AC-120 by the US Food and Drug Administration (FDA). It is also entitled to a percentage of any proceeds received by Ora under a potential sub-licence agreement.