Oculis Shines Bright with $59 Million Funding Round
April 17, 2024, 9:47 pm
Location: Switzerland, Vaud, Lausanne
Employees: 11-50
Founded date: 2017
Total raised: $192.47M
Oculis, a visionary biopharmaceutical company, has secured a dazzling $59 million in an oversubscribed funding round, propelling its mission to revolutionize eye care. The company's clinical-stage pipeline, brimming with potential, includes OCS-01, a groundbreaking eye drop candidate for diabetic macular edema (DME) and post-cataract surgery inflammation and pain. The successful Phase 3 OPTIMIZE-1 trial of OCS-01 has sparked hope for a groundbreaking treatment. With the upcoming Phase 3 OPTIMIZE-2 results on the horizon, Oculis is poised to make waves in the eye care industry.
To fuel its innovative programs and future endeavors, Oculis, headquartered in Zug with offices in the U.S. and Iceland, has completed a financing round that raised a remarkable $59 million. This milestone was achieved through the issuance of 5 million ordinary shares at $11.75 per share, with support from a syndicate of new Icelandic institutional and existing investors. The closing of this financing is scheduled for April 22nd, pending customary conditions. Oculis plans to utilize the net proceeds to advance its clinical development pipeline, bolster working capital, and support overall corporate goals. With this funding, Oculis anticipates financial stability until the latter half of 2026.
In a significant move, Oculis has received approval from the Central Bank of Iceland's Financial Supervision for the listing of its ordinary shares on the Nasdaq Iceland Main Market under the ticker symbol "OCS." This dual listing in the U.S. and Iceland reflects Oculis' commitment to innovation and global impact. CEO Riad Sherif, M.D., expressed gratitude for the support of investors who share the company's vision of transforming eye care. Excitement is building for the upcoming topline results from the OCS-02 Phase 2b RELIEF trial, set to be unveiled later this quarter.
Oculis' successful funding round and debut on the Nasdaq Iceland Main Market mark a significant milestone in the company's journey towards pioneering eye care solutions. With a steadfast focus on saving sight and enhancing patient outcomes, Oculis is poised to illuminate the path to a brighter future for eye health.
To fuel its innovative programs and future endeavors, Oculis, headquartered in Zug with offices in the U.S. and Iceland, has completed a financing round that raised a remarkable $59 million. This milestone was achieved through the issuance of 5 million ordinary shares at $11.75 per share, with support from a syndicate of new Icelandic institutional and existing investors. The closing of this financing is scheduled for April 22nd, pending customary conditions. Oculis plans to utilize the net proceeds to advance its clinical development pipeline, bolster working capital, and support overall corporate goals. With this funding, Oculis anticipates financial stability until the latter half of 2026.
In a significant move, Oculis has received approval from the Central Bank of Iceland's Financial Supervision for the listing of its ordinary shares on the Nasdaq Iceland Main Market under the ticker symbol "OCS." This dual listing in the U.S. and Iceland reflects Oculis' commitment to innovation and global impact. CEO Riad Sherif, M.D., expressed gratitude for the support of investors who share the company's vision of transforming eye care. Excitement is building for the upcoming topline results from the OCS-02 Phase 2b RELIEF trial, set to be unveiled later this quarter.
Oculis' successful funding round and debut on the Nasdaq Iceland Main Market mark a significant milestone in the company's journey towards pioneering eye care solutions. With a steadfast focus on saving sight and enhancing patient outcomes, Oculis is poised to illuminate the path to a brighter future for eye health.