Nicox Sa · EURONEXT:ALCOX
Nicox Sa — Investor Presentation (September 2025)
26 slides from Nicox Sa's investor presentation, Sep 4, 2025
Slide 1: Nicox Corporate Presentation
Euronext Growth Paris (Ticker symbol: ALCOX) Nicox Corporate Presentation An international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health September 4, 2025
Slide 2: Forward-Looking Statements
Forward - Looking Statements This document has been prepared by Nicox SA and may not be reproduced or distributed, in whole or in part. The information contained in this document has not been independently verified and no representation, warranty or undertaking, expressed or implied, is made as to,
Slide 3: Nicox at a glance
Nicox at a glance Revenue - generating ophthalmology biotech developing sight - saving therapies NICOX visible science Late-stage program Commercial-stage Global reach Significant market in glaucoma with assets and R&D with top-tier opportunity: 80 mn NDA1 filing targeted collaborations worldwide gl
Slide 4: Nicox Announces Positive Results from the NCX 470 Phase 3 Denali Trial
nicox ©) visible science Press Release Nicox Announces Positive Results from the NCX 470 Phase 3 Denali Trial in Glaucoma Patients Achieving the primary endpoint in both Denali and the first NCX 470 Phase 3 trial, Mont Blanc, meets efficacy requirements for approval in the U.S. and China NCX 470 was
Slide 5: Corporate highlights
Corporate highlights A Proven Strategic NCX 470 : Large Potential Track Transaction two positive Market for Record Capability Phase 3 trials NCX 470 NICOX visible science Two commercialized Corporate team U.S. NDA in ~$7 bn worldwide products in the U.S., with significant preparation for FDA glaucom
Slide 6: Nicox Portfolio: Track Record of Ophthalmology Innovation
Nicox Portfolio: Track Record of Ophthalmology Innovation Near Term Value through NCX 470, a Derisked Product Candidate with Global Potential Preclinical Clinical NDA Marketed Partner VYZULTA® Glaucoma and Ocular NICOX visible science Latanoprostene Bunod Worldwide1 Hypertension Ophthalmic Sol. 0.02
Slide 7: Glaucoma: a Significant Worldwide Ophthalmic Disease
Glaucoma: a Significant Worldwide Ophthalmic Disease Elevated IOP1 Contributes to Irreversible Optic Nerve Damage, Leading to Progressive Vision Loss NICOX visible science As published in the landmark EMGT study “…each mmHg of decreased IOP was related to an approximately 10% lowering [of risk of vi
Slide 8: Unmet Medical Needs for Glaucoma Treatment
Unmet Medical Needs for Glaucoma Treatment 40% of patients Many patients Tolerability issues Despite having well do not achieve require >1 with some established first-line therapies, their target IOP medication medications lead to NICOX visible science including the standard-of-care, on existing whi
Slide 9: NCX 470 highlights and market
NCX 470 highlights and market • Novel, fast acting molecule demonstrating best-in-class IOP lowering efficacy of up to 10mmHg from baseline • Positive pivotal Phase 3 topline results NICOX visible science from the Mont Blanc 1 and Denali 2 trials – NDA ready NCX 470 • Preclinical data suggests poten
Slide 10: NCX 470 Lowers IOP via a Validated Dual Mechanism Pathway
NCX 470 Lowers IOP via a Validated 1 Dual Mechanism Pathway Clinically Validated in Two Phase 3 trials, and Dual Mechanism Proven in a Phase 3b Two Pathways for Aqueous Humor 1 Primary or conventional outflow normally Stimulated by nitric oxide (NO) Outflow accounts for ~60% to NICOX visible science
Slide 11: NCX 470 Preparing for NDA submission in U.S. and China
NCX 470 Preparing for NDA submission in U.S. and China August 2025 H1 2026 2027 NICOX visible science Topline Results of NDA submission Potential approval Denali Phase 3 in the United and launch in the Clinical Trial States United States • Chinese NDA expected to be submitted shortly after the U.S.
Slide 12: NCX 470 Clinical Program
NCX 470 Clinical Program Primary objective of non - inferiority met, supporting NDA submission Image for illustrative purposes only N = 691 56 clinical sites in the U.S. & one site in China Phase 3 studies were NICOX visible science Mont Blanc1 designed to demonstrate Adaptive design selected the 0.
Slide 13: NCX 470 Phase 3 Trial Design – Efficacy Assessment Period
NCX 470 Phase 3 Trial Design 1 – Efficacy Assessment Period NCX 470 vs. standard of care, Latanoprost Randomized, controlled, double-masked, parallel design trial. Patients with open angle glaucoma or ocular hypertension were randomized 1:1 to once-daily treatment with NCX 470 0.1% or latanoprost 0.
Slide 14: Rapid and Sustained IOP-Lowering Effects
Rapid and Sustained IOP - Lowering Effects Demonstrated in two Phase 3 studies Mont Blanc1 Denali2 NICOX visible science • NCX 470 0.1%: N = 328 Latanoprost 0.005%: N = 333 • NCX 470 0.1%: N = 348 Latanoprost 0.005%: N = 348 • IOP-Lowering from Baseline was 8.0 to 9.7 mmHg for • IOP-Lowering from Ba
Slide 15: NCX 470 Phase 3 Results Confirm Robust Efficacy
NCX 470 Phase 3 Results Confirm Robust Efficacy 1,2,3 Based on Topline Results from both Pivotal Trials 4 • IOP-lowering effect from baseline was 7.9 - 10.0 mmHg for NCX 470 vs. 7.1 to 9.8 mmHg for latanoprost in the trials. NICOX visible science • Statistical non-inferiority was met vs. latanoprost
Slide 16: NCX 470 Well Tolerated in Both Phase 3 Trials
NCX 470 Well Tolerated in Both Phase 3 Trials 1,2,3 No ocular or non ocular serious adverse events related to NCX 470 Mont Blanc Denali NCX 470 Latanoprost NCX 470 Latanoprost NICOX visible science Ocular Hyperemia Conjunctival Hyperemia Hyperemia (most common adverse effect) 11.9% 3.3% 22.0% 9.2% L
Slide 17: NCX 470 Post hoc Data Further Differentiates vs. Standard of Care
NCX 470 Post hoc Data Further Differentiates vs. Standard of Care All Comparisons Are Based on NCX 470 0.1% and Latanoprost 0.005% in Mont Blanc 1,2 • Statistically significantly greater percentage of patients achieve ≤ 18mmHg IOP on NCX 470 compared to latanoprost NICOX visible science • Mean perce
Slide 18: NCX 470 – Publications and Presentations
NCX 470 – Publications and Presentations Authors’ Conclusion: The NO-donating prostaglandin analogue NCX 470 0.1% was well-tolerated and lowered IOP more than latanoprost in subjects with OAG or OHT at all 6 time points. With a dual mechanism of action that enhances both uveoscleral and trabecular o
Slide 19: Global Licensing of NCX 470
Global Licensing of NCX 470 United States Japan Partnership Partnership with with Kowa Kowa NDA filing Phase 3 trials expected in H1 ongoing 2026 NICOX visible science China, Korea and Southeast Asia Partnership with Ocumension NDA to be filed based on U.S. package Rest of World Partnership with Kow
Slide 20: Kowa – NCX 470 Partnership
Kowa – NCX 470 Partnership Two value - creating deals • Founded in Japan in 1894; Active worldwide February 2024 July 2025 in multiple domains including life sciences1 • ~8000 employees with an annual group revenue United States NICOX visible science of $4.9 billion and all territories outside Japan
Slide 21: Ocumension - NCX 470 Partnership
Ocumension - NCX 470 Partnership Shareholder of Nicox and Commercial partner for ZERVIATE China • Chinese company created in 2018 and dedicated December 2018 to ophthalmology1 • Listed on the Hong Kong stock exchange NICOX visible science China, since 2020 - $900 million market cap Korea, Southeast
Slide 22: Commercial Products and Partnerships
Commercial Products and Partnerships NICOX visible science Same mechanism 5% to 9% royalties 8% to 15% royalties of action as on annual net sales on annual net NCX 470 in China 1 sales in the U.S.2 Launched in over 15 First Commercial Launched3 in countries including sale in China the U.S. the U.S.4
Slide 23: Glaukos - Research Collaboration on NCX 1728
Glaukos - Research Collaboration on NCX 1728 NO-donating PDE5 inhibitor Combining NO-mediated MOA is enhanced NO-Release and prolonged by concomitant with PDE5 phosphodiesterase-5 (PDE5) Inhibition inhibition within the same molecule NICOX visible science NO is an important mediator in both IOP Pote
Slide 24: Financial information
Financial information Nicox is listed on Euronext Growth Paris (Ticker symbol: ALCOX) NICOX visible science Cash runway1 Analyst coverage Financial Information (links): Into Q3 2026 Yi Chen Annual Report 2024 HC Wainwright Financial Results 2024 Shareholding Structure & Monthly Share Reporting 24 1.
Slide 25: Corporate highlights
Corporate highlights A Proven Strategic NCX 470 : Large Potential Track Transaction two positive Market for Record Capability Phase 3 trials NCX 470 NICOX visible science Two commercialized Corporate team U.S. NDA in ~$7 bn worldwide products in the U.S., with significant preparation for FDA glaucom
Slide 26: Nicox S.A.
Euronext Growth Paris (Ticker symbol: ALCOX) Nicox S.A. Sundesk Sophia Antipolis Emerald Square Bâtiment C rue Evariste Galois 06410 Biot, France T: +33 (0)4 97 24 53 00 communications@nicox.com www.nicox.com