Oculis SA (‘Oculis’) a global biopharmaceutical company purposefully driven to save sight and improve eye care, today announces its listing on Nasdaq after successfully closing its business combination with European Biotech Acquisition Corp. (EBAC). The business combination was unanimously approved by Oculis’ board of directors and shareholders at an extraordinary general meeting on February 28, 2023. In connection with the closing, EBAC changes its name to “Oculis Holding AG”. From today, Oculis’ shares will trade on the Nasdaq Stock Market under the ticker symbol “OCS”.

At closing, Oculis had a pro-forma enterprise value of $220 million and a cash balance exceeding $117 million. Oculis is supported by leading new and existing institutional investors including LSP 7[LAG1], funds managed by Tekla Capital Management LLC, Earlybird, Novartis Venture Fund, Pivotal Life Sciences, and Vi Partners, among others.

Riad Sherif MD, CEO of Oculis, commented: “Listing on the Nasdaq Stock Market is a major corporate milestone for Oculis and its investors. It is a confirmation to 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 the first topical eye-drop for DME, the first biologic eye-drop for Dry Eye Disease(DED) and the first neuroprotective agent for neuro-retina diseases, such as Acute Optic Neuritis (AON),glaucoma, etc.”

Eduardo Bravo, CEO of EBAC, said: “EBAC and its investors are exceptionally pleased with the closing of this business combination with Oculis. We value the advanced stage, diversity and novelty of Oculis’ assets and we are confident in the expertise and experience of the Oculis’ leadership team, Board of Directors, Scientific Advisory Board and network of world-class industry collaborators to bring tremendous value to the advancement of treatment outcomes in ophthalmology. We are excited about the potential of Oculis’ differentiated pipeline to meet medical needs for patients.”

Pravin Dugel MD, President of Iveric Bio, and newly appointed Non-Executive Director of Oculis, said: “I was delighted to support Oculis as a Scientific Advisory Board Member and I am thrilled to continue my support as a board member during this pivotal moment in the Company’s growth story. Oculis has a unique opportunity with its diversified late-stage pipeline to address areas of significant unmet medical need in major segments of ophthalmology including retina, dry eye and glaucoma. There is no doubt in my mind that it has the potential to change the treatment paradigm for patients worldwide.”

Oculis’ Board of Directors now comprises seven members, including six independent directors “independent” as per Nasdaq listing standards. Anthony Rosenberg will continue to serve as Chairman of the Board of Directors, which now includes Christina Ackermann, Lionel Carnot, Pravin Dugel MD, Martijn Kleijwegt, Geraldine O’Keeffe and Riad Sherif, MD.