Oculis, SA, based in Lausanne, and European Biotech Acquisition Corp. today announced they have entered into a definitive business combination agreement.
According to a news release, 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 companies noted in the news release that 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.
According to Riad Sherif, MD, CEO of Oculis, the company’s mission is to drive innovation to save sight and improve eye care.