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Drug Names(s): AC170
Description: AC-170 is a topically administered formulation of cetirizine. Cetirizine is a metabolite of hydroxyzine and acts as a racemic selective H1 receptor inverse agonist.
Aciex and Nicox
In July 2014, Nicox announced it has signed an agreement to acquire all of the outstanding equity of Aciex Therapeutics. The completion of the acquisition remains subject to the approval of Nicoxs shareholders and other customary conditions.
Under the proposed acquisition, Nicox will acquire all outstanding shares of Aciex on a cash-free debt-free basis through a reverse triangular merger, governed by US laws and regulations. Aciex shareholders will receive an upfront payment of $65 million entirely in the form of 20,627,024 newly issued Nicox shares, plus contingent value rights (CVRs) giving rights to Nicox shares based on the potential US FDA approval(s) of AC-170 and of two additional undisclosed products within a pre-determined period.
In October 2014, Nicox announced the completion of the acquisition of Aciex Therapeutics.
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