Nicox announced on Wednesday the commercial launch by its Chinese partner of Zerviate, an ocular solution for allergic conjunctivitis that it originated, a step that will enable it to generate a new source of recurring revenues.

The French laboratory points out that it could potentially receive milestone payments of up to $17.2 million from Ocumension, its exclusive partner in China, as well as royalties of between 5% and 9% on net sales of the product.

As a reminder, Zerviate - which is approved in China for ocular pruritus associated with allergic conjunctivitis - is the subject of an exclusive licensing agreement with Ocumension for development and commercialization on the Chinese market and markets in the majority of Southeast Asian countries.

The ophthalmic solution is also licensed in several territories, including Harrow in the United States.

Following these announcements, Nicox shares climbed over 25% on Wednesday as mid-day approached, posting one of the strongest gains on the Paris Bourse.

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