Oculis, a global biopharmaceutical company focussing on eye care, today announces its listing on Nasdaq after successfully closing the business combination between European Biotech Acquisition Corp. (“EBAC”) and Oculis SA. From today, Oculis’ shares will trade on the Nasdaq Stock Market under the ticker symbol “OCS”.
Upon closing, Oculis had a pro-forma enterprise value of approximately $220 million and a cash balance exceeding $117 million, prior to payment of final transaction costs. Oculis is supported by leading new and existing institutional investors in the upsized PIPE financing including LSP 7, funds managed by Tekla Capital Management LLC, Earlybird, Novartis Venture Fund, Pivotal Life Sciences and VI Partners, among others.
Oculis’ highly differentiated pipeline comprises multiple innovative product candidates in development. It includes OCS-01, a topical retinal candidate for diabetic macular edema (DME); OCS-02, a topical biologic candidate for dry eye disease (DED); and OCS-05, a disease modifying candidate for acute optic neuritis (AON) and other neuro-ophtha disorders such as glaucoma, diabetic retinopathy, geographic atrophy, and neurotrophic keratitis.
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.”
Eduardo Bravo, CEO of EBAC, said: “EBAC and its investors are exceptionally pleased with the closing of this business combination with Oculis. We value the advanced-stage, diversity and novelty of Oculis’ assets and we are confident in the expertise and experience of Oculis’ leadership team, Board of Directors, Scientific Advisory Board and network of world-class industry collaborators to bring tremendous value to the advancement of treatment outcomes in ophthalmology. We are excited about the potential of Oculis’ differentiated pipeline to meet medical needs for patients.”
Oculis’ Board of Directors now comprises seven members, including six directors who are “independent” as per Nasdaq listing standards. Anthony Rosenberg will continue to serve as Chairman of the Board of Directors, which now includes Christina Ackermann, Lionel Carnot, Pravin Dugel M.D., Martijn Kleijwegt, Geraldine O’Keeffe and Riad Sherif M.D.
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