Oculis Raises $50 Million to Push Ophthalmic Portfolio and Expand International Foothold

On May 4th, Oculis, a Swiss biopharmaceutical, announced it raised over $50 million in an oversubscribed Series C financing. The capital will be used to advance its therapies to the next phase of clinical trials, expand its pipeline, and grow internationally.   

Oculis specializes in developing non-invasive treatments for eye diseases. Their most advanced product is OCS-01, which has successfully completed Phase 2 clinical trials for diabetic macular edema, and inflammation and pain following ocular surgery. Their second product in clinical trials is OCS-02, a TNF alpha antibody licensed from Novartis. OCS-02 is being developed for the treatment of uveitis, and dry eye disease. 

Raising Capital

In 2019, Oculis raised more than $35 million as part of their Series B financing. That money contributed to the development OCS-02. Additionally, during a previous trial, a novel gene variant in high responding patients suffering from dry eye disease was discovered and could lead to OCS-02 becoming the first personalized treatment for severe dry eye disease. 

The Series C financing round was co-led by BVCF Management and Hyfinity Investments. Oculis raised $57 million that will be used to accomplish three main goals:

• To advance OCS-01 to Phase 3 clinical trials, and OCS-02 to Phase 2b. The first of which is scheduled to begin at the end of the quarter. 
• To expand Oculis’ pipeline using their proprietary solubilizing nanoparticle technology formulation, which allows for the non-invasive topical treatment, longer time of availability to reach the target tissue. Therapeutic candidates are being developed for retinal disorders, and ocular inflammation.  
• To execute expand internationally to become a global player in ophthalmic treatments.

This financing round the return of existing investors such as Bay City Capital, Brunnur Ventures, EarlyBird, funds, Pivotal bioVenture Partners, Nan Fung Life Sciences, Novartis Venture Fund, Silfurberg, and others. Additonally, VI Partners and Wille AG joined the list of Oculis investors.

The company also announced Vanessa Huang, General Partner at BVCF Management, and Dr. Sylvia He, Managing Partner at Hyfinity Investments are joining the Oculis Board of Directors.

“We are entering an exciting new phase of our journey as we advance towards late-stage development and prepare the organization to successfully bring novel therapies to millions of patients worldwide. We feel fortunate to be welcoming such high caliber and diversified new investors and are delighted with the continued support of our existing investors – the quality and breadth of our shareholder base is testament to the exceptional science, groundbreaking development, and the multiple opportunities we have to transform positively patients’ lives globally. Their support and involvement will be crucial for Oculis as we continue to build a global ophthalmology company with a footprint in key markets,” said Riad Sherif, MD, CEO of Oculis

“Further, on behalf of our Board, investors, and management team, I would like to thank Dr. Loftsson and Dr. Weber for their positive contributions to and impact on Oculis through their services on the Board.”

Author

Daniel Ojeda