Oculis announces public listing on NASDAQ

The TOP 100 medtech company Oculis announced its public listing on NASDAQ after successfully closing the business combination with European Biotech Acquisition Corp. (EBAC). Starting today, Oculis' shares will trade on the NASDAQ stock exchange under the ticker symbol OCS.

Oculis is a global biopharmaceutical company headquartered in Switzerland that is devoted to saving sight and improving eye care. The company is developing several innovative products, including for the treatment of diabetic macular edema (DME), dry eye disease (DED), acute optic neuritis (AON), and other neuro-ophthalmological disorders such as glaucoma, diabetic retinopathy, geographic atrophy, and neurotrophic keratitis. The company has established operations in the US, China, and across Europe.

The business combination was unanimously approved by the board of directors and shareholders of Oculis SA and by the EBAC shareholders at an extraordinary general meeting on February 28, 2023. Upon closing, Oculis had a pro-forma enterprise value of approximately USD 220 million and a cash balance exceeding USD 117 million, before the 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.

"Listing on the Nasdaq Stock Market is a major corporate milestone for Oculis and its investors," said Riad Sherif MD, CEO of Oculis. "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 made the TOP 100 Swiss Startup ranking in 2020 and 2022. In 2022, it placed #35 overall and was one of the TOP 3 medtech companies in the ranking.