Oculis secures USD 59 Million in oversubscribed offering and debuts on NASDAQ Iceland main market
Oculis, a pioneering ophthalmic biopharmaceutical company, has successfully concluded an oversubscribed registered direct offering, raising an impressive USD 59 Million in capital. This landmark achievement marks the company's debut on the NASDAQ Iceland Main Market, signalling a significant achievement in its clinical development initiatives. The secured funds will push Oculis' robust clinical pipeline forward and support general corporate objectives.
Oculis Holding (Nasdaq Global Market: OCS) recently secured around USD 59 million in financing including participation from new Icelandic institutional and existing investors. This was accomplished by issuing 5,000,000 of its ordinary shares, each valued at USD 11.75 per share. Additionally, the company obtained approval from the Central Bank of Iceland's Financial Supervision for the necessary prospectus to list its ordinary shares on the Nasdaq Iceland Main Market."We are pleased to become one of the few dual-listed biotech companies in the US and Iceland, where the proprietary OPTIREACH® technology was invented,” said Riad Sherif, M.D., CEO of Oculis. “We are grateful for the support of our new investor syndicate, a group that shares our commitment to save sight and improve eye care with potentially transformative therapies. Additionally, we look forward to sharing the topline results from our OCS-02 Phase 2b RELIEF trial later this quarter.”
In connection with the financing, Oculis recently accepted Subscription Offers from a group of new and existing investors in Iceland. The deal is set to close on April 22nd, 2024, pending standard closing conditions. The company expects to receive USD 59 million in gross proceeds, which will boost its clinical development projects, cover day-to-day expenses, and support general business needs. With this funding, along with its existing financial resources, Oculis anticipates having enough capital to sustain operations and investments until the latter half of 2026.
Oculis was ranked among the TOP 100 Swiss Startups in 2020 and 2022.
Oculis' team
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