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NicOx appoints Philippe Masquida EVP, Managing Director of European Operations ; Next step in the Company's strategy to create an international ophthalmology company

April 2, 2012 - Sophia Antipolis Cedex, France

April 2, 2012. Sophia Antipolis, France.

NicOx S.A. (NYSE Euronext Paris: COX) today announces the appointmentofPhilippe Masquida as Executive Vice President, Managing Director ofEuropeanOperations. Mr. Masquida has over 22 years of seniorinternationalpharmaceutical experience and an impressive track record in ophthalmology.

Mr. Masquida will lead NicOx's operations in Europe and in this role hewill bemanaging the European subsidiaries. In addition he will beresponsible, incoordination with the executive team of NicOx, for identifying andevaluatingcommercial opportunities in Europe as part of the Company's strategy tobuild alate-stage ophthalmic portfolio. He will be part of NicOx's ExecutiveCommitteeand report to Michele Garufi, Chairman and CEO.

Mr. Masquida joins NicOx from Pierre Fabre where he was Vice President,Head ofInternational Operations, Pharmaceuticals, and was responsible for 25affiliatesin Europe, Asia, Americas, Middle East and Africa, employing around1,600people. Prior to this he spent 7 years at Allergan Inc., where hesuccessfullyled the growth of the Company's Emerging Markets in Europe, Africaand theMiddle East, including in ophthalmology. He also held the position ofDirectorof International Affairs for 8 years at Laboratoires Théa, anindependentpharmaceutical company specialized in ophthalmology, where he wasinstrumentalin the establishment of a number of European subsidiaries and wasresponsiblefor international business. Mr. Masquida has previously held anumber ofpositions at Sanofi Aventis (Fisons) and Merck Inc.

On March 21, 2012, NicOx announced a strategy to create an international,late-stage development and commercial ophthalmology companybased aroundtherapeutics, diagnostics and devices. The appointment of Mr. Masquida isa keypart of this strategy and follows the appointment of Jerry St. Peterin theUnited States. As a first step in this transformation, NicOx has acquired11.8%of the shares of Altacor, a privately-held ophthalmology company basedin theUnited Kingdom, and entered into an exclusive option agreement toacquire theremaining shares of Altacor. NicOx has a number of other opportunitiescurrentlyunder discussion which could lead to additional M&A or in-licensing tobuild abalanced ophthalmology pipeline across the United States and Europe.

Michele Garufi, Chairman and CEO of NicOx, said: "The appointment ofPhilippeMasquida is another significant step forward in our strategy tocreate aninternational late-stage development and commercial ophthalmologycompany. Hebrings a wealth of business management skills and extensiveexperience inOphthalmology, which will be of significant value as we continue tobuild adiverse late-stage portfolio in ophthalmology with a clearroute tocommercialisation."

Philippe Masquida commented: "The ophthalmology market isexperiencingsignificant growth and there is a real opportunity for NicOx tobecome aninternational, mid-sized player to occupy the space between big pharma andlocalplayers. With its existing expertise and clear growth strategy, I believeNicOxis well placed to take full advantage of these opportunities and I lookforwardto working with the team as we create a global ophthalmology company."

About NicOx

NicOx (Bloomberg: COX:FP, Reuters: NCOX.PA) is building an internationallate-stage development and commercial Ophthalmology Company based aroundtherapeutics, diagnostics and devices. As of March 2012, NicOx holds an11.8%stake in the UK-based ophthalmology company Altacor, with an option toacquirethe remaining shares, as the first step of a transformation into alate-stage development and commercial ophthalmic Company.

NicOx is also developing an internal portfolio of New Molecular Entities(NMEs)through the application of its proprietary nitric oxide-donating R&Dplatform. The Company's pipeline includes several nitric oxide-donatingNMEs forthe potential treatment of ophthalmological, inflammatory andcardio-metabolic diseases, which are in development internally and withpartners, whoinclude Bausch + Lomb, Merck (known as MSD outside theUnited StatesandCanada)and Ferrer.

NicOx S.A. is headquartered in France and is listed on Euronext Paris(Compartment C: Small Caps).

This press release contains certain forward-looking statements. AlthoughtheCompany believes its expectations are based on reasonable assumptions,theseforward-looking statements are subject to numerous risks and uncertainties,which could cause actual results to differ materially from thoseanticipated inthe forward-looking statements.

Risks factors which are likely to have a material effect on NicOx'sbusiness arepresented in the 4(th) chapter of the « Document deréférence, rapport financierannuel et rapport de gestion 2011 » filed with the FrenchAutorité des MarchésFinanciers (AMF) on February 29, 2012 and available on NicOx'swebsite( and on the AMF's website (

NicOx S.A.

Les Taissounières - Bât HB4 - 1681 route des Dolines - BP313 -06906 SophiaAntipolis Cedex - FranceTel: +33 (0)4 97 24 53 00 • Fax: +33 (0)4 97 24 53 99

NicOx appoints Philippe Masquida EVP, Managing Director of European Op:

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Source: NICOX via Thomson Reuters ONE[HUG#1598851]


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