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    Oculis SA and European Biotech Acquisition Corp create Nasdaq-listed biopharmaceutical company Verified listing

    • Monday, October 17, 2022 @ 4:00 pm
    • Oculis is focused on becoming a leading global ophthalmic biopharmaceutical company with product candidates to address areas of significant medical needs, including diabetic macular edema (DME), dry eye disease (DED), and neuro-retina indications such as glaucoma, affecting growing patient populations
    • Net proceeds expected to support advanced clinical pipeline of multiple innovative product candidates with near term potential value catalysts, potentially including the first topical eye-drop for DME, the first biologic eye-drop for DED and the first neuroprotective agent for neuro-retina diseases, such as glaucoma
    • Combined company expected to have a post-transaction enterprise value of approximately $220 million and a cash balance exceeding $200 million, including gross PIPE and private investment proceeds and cash held in EBAC’s trust, assuming no redemptions by EBAC shareholders, and before deducting anticipated transaction expenses
    • Upsized PIPE and private investment financing of close to $80 million, anchored by LSP 7, with the participation of leading institutional investors, including Earlybird, Novartis Venture Fund, Pivotal bioVenture Partners, funds managed by Tekla Capital Management LLC, and VI Partners, among others
    • Business combination is expected to be completed in H1 2023

    Oculis, SA. (“Oculis”), a global biopharmaceutical company developing treatments to save sight and improve eye care with breakthrough innovations and European Biotech Acquisition Corp (“EBAC”, NASDAQ: EBAC), a special purpose acquisition company (SPAC), today announced they have entered into a definitive business combination agreement. Upon closing of the transaction, the company will be named “Oculis Holding SA” and will work to accelerate the development of Oculis’s differentiated ophthalmology pipeline. The transaction includes commitments to an upsized PIPE and private investment of close to $80 million, anchored by LSP 7, with the participation of leading institutional investors, including Earlybird, Novartis Venture Fund, Pivotal bioVenture Partners, funds managed by Tekla Capital Management LLC, and VI Partners, among others.

    Riad Sherif, M.D., CEO of Oculis, said: “Oculis’s purpose is to drive innovation to save sight and improve eye care. This transaction accelerates our mission and propels our pipeline of highly differentiated product candidates for patients and physicians. We are delighted to have the support of key investors. We look forward to delivering important milestones including Phase 3 clinical trials of OCS-01, a potential first topical eyedrop product to treat the retina, Phase 2b clinical trials of OCS-02, a first in class topical anti-TNF for the treatment of DED and uveitis, and a proof-of-concept trial of neuroprotective agent, OCS-05, in acute optic neuritis. These are crucial deliverables towards bringing to market new therapies to patients.”

    Eduardo Bravo, CEO of EBAC, said: “Oculis has built a highly diversified late-stage pipeline that has the potential to revolutionize treatment in major ophthalmology segments. EBAC was formed to invest in the untapped potential in the European biotechnology sector and has screened over 100 European biotechnology companies. Oculis is a prime example of what we set out to invest in, with great innovation, a well thought out strategy and an experienced management team to bring promising therapies to market for patients suffering from eye disease.”

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