Oculis to go public
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The Lausanne-based company Oculis SA, and European Biotech Acquisition Corp, announced a business combination agreement to create a Nasdaq-listed biopharmaceutical company driving breakthrough innovations in ophthalmology
Upon closing of the transaction, the company will be named “Oculis Holding SA” and will work to accelerate the development of Oculis’s differentiated ophthalmology pipeline. The transaction includes commitments to an upsized PIPE and private investment of close to $80 million, anchored by LSP 7, with the participation of leading institutional investors, including Earlybird, Novartis Venture Fund, Pivotal bioVenture Partners, funds managed by Tekla Capital Management LLC, and VI Partners, among others.
Riad Sherif, M.D., CEO of Oculis, said: “Oculis’s purpose is to drive innovation to save sight and improve eye care. This transaction accelerates our mission and propels our pipeline of highly differentiated product candidates for patients and physicians. We are delighted to have the support of key investors. We look forward to delivering important milestones including Phase 3 clinical trials of OCS-01, a potential first topical eyedrop product to treat the retina, Phase 2b clinical trials of OCS02, a first in class topical anti-TNF for the treatment of DED and uveitis, and a proof-of-concept trial of neuroprotective agent, OCS-05, in acute optic neuritis. These are crucial deliverables towards bringing to market new therapies to patients.”
Eduardo Bravo, CEO of EBAC, said: “Oculis has built a highly diversified late-stage pipeline that has the potential to revolutionize treatment in major ophthalmology segments. EBAC was formed to invest in the untapped potential in the European biotechnology sector and has screened over 100 European biotechnology companies. Oculis is a prime example of what we set out to invest in, with great innovation, a well thought out strategy and an experienced management team to bring promising therapies to market for patients suffering from eye disease.”
The proposed transaction is expected to be completed in the first half of 2023. The newly listed entity Oculis Holding SA will be a company registered in Switzerland with its headquarters at the current office of Oculis at the EPFL Innovation Park in Lausanne, Switzerland
Source: Press Release