Shearman & Sterling is representing NicOx in connection with a €70 million rights offering with preferential subscription rights. The offering is open to the public in France until December 9, 2009 inclusive. It also includes an international private placement to institutional investors, including a private placement in the United States pursuant to Rule 144A of the Securities Act. Settlement and delivery of the new shares on Euronext Paris is scheduled to take place on December 23, 2009.

Shearman & Sterling’s team is led by partner Robert Treuhold and European Counsel Aline Cardin, assisted by associates Trevor Ingram, Khalisha Banks, Régis Henry and Nicolas de Courtivron (all Paris-Capital Markets). On IP aspects the team was assisted by a New York team composed of partner Samuel A. Waxman, assisted by associates Jordan J. Altman and Timothy Franklin.

The rights offering follows the company's €30 million private placement launched on November 18, 2009, on which Shearman & Sterling also advised.