NicOx To Close US Headquarters After Naproxcinod FDA Refusal
First Published Wednesday, 4th August 2010 06:18 am - © 2010 Dow Jones
PARIS -(Dow Jones)- French biotechnology company NicOx SA (COX.FR) Wednesday said it will close its U.S. headquarters from August 31, after the U.S. Food and Drug Administration said it couldn't approve its lead drug candidate naproxcinod.
The FDA's refusal is expected to at least significantly delay any potential launch in the U.S. of naproxcinod, the company said in a statement.
NicOx said it plans to discuss possible next steps as early as possible with the FDA and to continue to pursue the European regulatory process for naproxcinod.
The company will also seek to enter into partnerships for naproxcinod and other products in Europe and the rest of the world.
NicOx said it plans to pursue in-licensing and merger and acquisitions opportunities.