Oculis Holding (OCS) has agreed to acquire all of Accure Therapeutics' worldwide development and commercial rights to Privosegtor, the companies said Monday.

The neuroprotective drug candidate is being investigated in registrational trials with initial indications of optic neuropathies and acute multiple sclerosis relapses.

Under the terms of the deal, upon the first closing, Oculis will acquire Accure's rights to Privosegtor and, in a separate closing, ACT-02, an early-stage preclinical neurology drug candidate.

The consideration for both deal comprises an upfront cash payment of $3.8 million, to be paid at the first closing, and up to 2,050,000 Oculis shares, the companies said. The ordinary shares consist of both upfront shares subject to lockup release over a period of up to two years following deal completion and earn-out shares subject to vesting upon achievement of development and regulatory milestones tied to the assets.

The company expects closing for Privosegtor to occur no later than Feb. 28, while the closing for ACT-02 is expected no later than March 31.

The acquisition will lead to the termination of Oculis' existing license deal with Accure, the companies said.

Oculis shares were up 2.7% in premarket activity.