NicOx SA (Euronext Paris: COX) today announced the successful removal of 30 million euros via a private placement with institutional investors, including 20 million made by the Strategic Investment Fund (ISF), which therefore hold a 5.1% stake in the Company after the transaction. The private placement was made in the form of a construction accelerated bookbuilding, with institutional investors in accordance with Article L.411-2 II of the Monetary and Financial Code and does not include pre-emptive rights shareholders…

Therefore, NicOx has placed 4,065,468 new shares through private placement at a subscription price of 7.50 per share, corresponding to a discount of 7.4% over the closing price of NicOx November 17 2009 (E 8.099). This funding aims to support the goal of NicOx to develop as a fully integrated specialist pharmaceutical company, with operations targeted to sales professionals in the United States as well as in-house research and innovative development.

The ISP (Strategic Investment Fund), which has been a catalyst in the success of this private placement was subscribed 2,666,666 new shares, representing an investment of 20 million euros. Consequently, the ISP will hold 5.1% stake in the company after the capital increase, and thus becomes a major shareholder of NicOx. The ISP is a limited company, owned 51% by Caisse des Depots et Consignations and 49% by the French government, which aims to support medium-sized enterprises considered important for growth and competitiveness of the French economy. NicOx has granted the request of the ISP can nominate a candidate for election to the Board of NicOx during the next General Meeting of shareholders.



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