Oculis, a global biopharmaceutical company focussing on eye care, successfully closed a follow-on financing of $40 million. The company intends to use the net proceeds from this offering, together with its existing resources, to fund its development programs in Diabetic Macular Edema and other ophthalmic indications, and for working capital and general corporate purposes.
Since beginning of March, Zug-based Oculis Holding AG is listed on Nasdaq. In the meantime Oculis announced positive top line results from Stage 1 of its Phase 3 DIAMOND trial of OCS-01 eye drops in Diabetic Macular Edema (DME). DME is the leading cause of visual loss and legal blindness in patients with diabetes, affecting around 37 million people worldwide, with a significant number of patients left untreated due to a lack of convenient treatment options. The OCS-01 development program will continue as planned with Stage 2 which includes two global trials, each enrolling approximately 350-450 patients. Oculis expects to begin Stage 2 of the DIAMOND trial in the second half of this year.
To advance its development programs in Diabetic Macular Edema and other ophthalmic indications, Oculis has placed a follow-on public offering of 3.5m ordinary shares at a public offering price of USD 11.50 per ordinary share, for gross proceeds of USD 40.25m, before deducting underwriting discounts and commissions and offering expenses.
Apart from OCS-01 Oculis’ pipeline includes OCS-02 eye drops, a topical biologic candidate in Phase 2 development for dry eye disease (DED) and uveitis; and OCS-05, a disease modifying candidate for acute optic neuritis (AON) and other neuro-ophthalmic disorders, such as glaucoma, diabetic retinopathy, geographic atrophy, and neurotrophic keratitis. The first in-patient, proof-of-concept trial with OCS-05 is currently ongoing in France.
(Press release / SK)
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