Oculis lists on Nasdaq with strong clinical-stage pipeline in ophthalmologyTuesday 7 March 2023
The listing comes after the successful closing of the business combination between European Biotech Acquisition Corp. (EBAC) and Oculis SA. | © Envato
Oculis Holding AG, a global biopharmaceutical company focused on saving sight and improving eye care, has announced its listing on the Nasdaq stock exchange.
Oculis Holding AG, a Vaud-based biopharmaceutical company with a global focus on improving eye care and preserving vision, has revealed its Nasdaq stock exchange listing. The new company, named "OCS", has a pro-forma enterprise value of approximately USD 220 million and a cash balance exceeding USD 117 million.
Oculis' pipeline includes multiple product candidates for key areas of medical needs such as retina, dry eye, and neuro-ophthalmology. The company's financial position is strong, and it has the support of leading institutional investors in the upsized PIPE financing, including LSP 7, Earlybird, Novartis Venture Fund, Tekla Capital Management LLC, Pivotal Life Sciences, and VI Partners.
Oculis' upcoming milestones include the results from OCS-01 Stage 1 from the DIAMOND study, which has the potential to become the first topical eye drop to treat diabetic macular edema (DME), followed by multiple other expected clinical milestones.
Significant value for patients, physicians, and investors
Riad Sherif MD, CEO of Oculis, commented: “Listing on the Nasdaq Stock Market is a major corporate milestone for Oculis and its investors. It is a confirmation of the potential of Oculis’ pipeline to bring significant value for patients, physicians and investors. Oculis' robust financial position enables the advancement of multiple clinical stage candidates and the delivery of several important near-term catalysts for value creation, including potentially OCS-01, the first topical eye-drop for DME, OCS-02, the first biologic eye-drop for Dry Eye Disease (DED) and OCS-05, the first neuroprotective agent for neuro-retina diseases, such as Acute Optic Neuritis (AON) and glaucoma.”
Oculis Holding AG's listing on Nasdaq is a confirmation of its strong financial position and the potential of its advanced clinical-stage pipeline to address key areas of medical needs in ophthalmology. Located at the heart of the Health Valley, the company is led by an experienced management team, supported by leading international healthcare investors, and has several expected near-term clinical milestones.