Nicox Extraordinary General Meeting of July 11, 2022
Sophia Antipolis, June 22, 2022
Dear valued Shareholder,
This letter is sent to ask for your continued valuable support for Nicox by voting in the Company’s upcoming Extraordinary General Meeting convened on July 11, 2022.
I would like to start by introducing myself. My name is Andreas Segerros and I have succeeded Michele Garufi as Chief Executive Officer of Nicox as of June 1, 2022. I am excited about the opportunity to steer Nicox to future successes based on the solid foundation built up over the years of leadership by Mr Garufi and the Company’s management team. Mr Garufi will remain on the Board for the Company, which allows for a seamless leadership transition.
Ophthalmology in general and glaucoma in particular is part of my business DNA. I spent 12 years with Pharmacia Ophthalmics and had the opportunity to lead the development and global launch of Xalatan® (latanoprost), which became Pharmacia’s first $1 billion dollar product. My Pharmacia experience involved positions in the U.S., Japan and global leadership of the Ophthalmology franchise. Since then, and for the last 12 years, I have been a partner at two European life science venture funds, where I also managed several IPOs and M&As in Europe and the U.S.
With this in-depth knowledge of the ophthalmology market, and its demands, I have joined Nicox with the ambition to grow the Company to become a key player in this segment. In my view our lead asset, NCX 470, could become the first scientifically and clinically worthy successor to Xalatan® – assuming positive data from our clinical trials, of course – and has the potential to be best-in-class for IOP lowering. NCX 470’s potential success rests on the combination of Nicox’s internally-developed nitric oxide research platform together with the prostaglandin analog backbone.
During 2021 the Company strengthened its R&D leadership with the recruitment of Doug Hubatsch as Chief Scientific Officer. He also has a deep ophthalmology background from Alcon and Novartis and has developed and launched several glaucoma products in his career. This closes the loop on having a strong company leadership team that can handle the work relating both to post-Phase 3 activities and simultaneously continuing to build a targeted and clinically relevant pipeline in ophthalmology.
As we look back, 2021 has been a year where the full strength of the Company has been deployed, most notably in the execution of the two NCX 470 Phase 3 trials. The Phase 3 program consists of two pivotal trials, Mont Blanc and Denali, in patients with open-angle glaucoma or ocular hypertension. Just this month we announced that the read-out from the first Phase 3 trial, Mont Blanc, has been moved up to November 2022.
Strong support from Kreos Capital along with existing and new investors allowed us to structure an equity and debt financing in December last year which provides us a cash runway through to Q4 2023.
Your support and your vote at the upcoming Extraordinary General Meeting are very important to us being able to continue to build the company and its capabilities.
For this purpose, a proxy form, the resolutions, a guide explaining how to vote, and several other documents pertaining to the Extraordinary General Meeting are enclosed. All the documents pertaining to the General Meeting are available on Nicox’s website www.nicox.com (section Investors/Shareholder Meetings).
Should you have any question on the voting process, please contact our Investor Relations team either by e-mail at [email protected] or by phone at +33 (0)4 97 24 53 28.
Chief Executive Officer