Altacor to Maintain Growth Strategy in Ophthalmology

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• Publié par: altacor-ltd
• Nombre de lectures: 10
• Langue: English

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Altacor to Maintain Growth Strategy in

Ophthalmology

PR Newswire

CAMBRIDGE, England, June 1, 2012

CAMBRIDGE, England

,

June 1, 2012

/PRNewswire/ --

Altacor Limited ("Altacor"), a specialty ophthalmic pharmaceutical company,

today announces that the exclusive option granted to NicOx S.A. ("NicOx") to

acquire its remaining shares has now expired.

On

21 March 2012

, Altacor announced that NicOx had invested £2 million in

cash to acquire 11.8% of the shares of Altacor and had entered into an

exclusive option, which could be exercised by NicOx up to

31 May 2012

, to

acquire the remaining shares of Altacor. Following the expiry of the option,

NicOx will continue to hold its shares on the same basis as the other

shareholders of the Company.

Altacor will maintain its core strategy of building a European ophthalmic

specialty pharmaceutical company based on growing product sales and a fast

to market portfolio of development products. Nicox will remain a significant

shareholder and potential partner and the Board and management team at

Altacor expect to maintain a dialogue with the team at Nicox and other

potential partners to deliver the best value for shareholders in the medium to

long term.

Dr Fran Crawford, CEO of Altacor, said: "We value Nicox as a supportive

shareholder and an important potential partner as we do all potential partners

for growth in our business. Our future plans focus on enhancing value through

adding products to our marketed portfolio as well as advancing development

products towards our aim of being a leading European ophthalmic speciality

pharma company. "

About Altacor

Altacor is an ophthalmic specialty pharmaceutical company with marketed

products and a diverse development pipeline. The products are focused in

the following sub therapeutic areas: ocular surface disease, ocular anti-

infection and glaucoma. The company differentiates products through, for

example, formulation or reprofiling. ALT 005 (surgical) and ALT 020

(ocular anti-infection), ALT 022 glaucoma and ALT 401 for prevention of

scarring in glaucoma surgery are examples. Altacor has five products marketed

in the UK and Ireland (Clinitas and Clinitas range) which are commercialised

through its own sales and marketing organisation and network. Clinitas and

Clinitas GEL are prescription products, the former is for moderate dry eye

conditions and has a uniquely high concentration of hyaluronic acid (0.4%) in

the UK, it is gaining acceptance by clinicians nationwide. The OTC Clinitas range

comprises Clinitas Hydrate, Clinitas Soothe and Clinitas Ultra 3 which together

address the major causes of dry eye.

For further details contact:

Francesca E Crawford (CEO)

[phone]