Connect with us

Headlines

EyePoint Gets $15.7M Equity Investment from Ocumension Therapeutics

In conjunction with the investment, Ye Liu has been appointed to the EyePoint board.

mm

Published

on

WATERTOWN, MA — EyePoint Pharmaceuticals Inc. has received a $15.7 million equity investment from Ocumension Therapeutics, a China-based ophthalmic pharmaceutical company traded on the Stock Exchange of Hong Kong.

“This investment underscores our continued strong partnership with Ocumension for YUTIQ and DEXYCU in Asia,” said Nancy Lurker, CEO of EyePoint. “We are excited about the significant potential of these products in both the U.S. and in Asia and for our R&D pipeline, including the Phase 1 trial of EYP-1901 in wet age-related macular degeneration that is expected to commence in the coming months.”

End of a VEE Era
Photo Gallery

End of a VEE Era

INVISION Races to Miami with Ferrari and Ray-Ban
Photo Gallery

INVISION Races to Miami with Ferrari and Ray-Ban

11 Images That Show Why The Novel Eye in North Kingstown Was Named One of America’s Finest Optical Retailers for 2023-24
Photo Gallery

11 Images That Show Why The Novel Eye in North Kingstown Was Named One of America’s Finest Optical Retailers for 2023-24

Ye Liu, CEO of Ocumension, said: “We are delighted to support our partnership with EyePoint through this investment, as we prepare for the development and commercialization of YUTIQ and DEXYCU, under Ocumension branded labels, across Asian markets. We share EyePoint’s commitment to rapidly advancing new treatments for ocular disease in attractive markets and look forward to commercial launches in China in the coming year.”

In conjunction with the investment, Ye Liu has been appointed to the EyePoint board of directors, replacing Kristine Peterson, who stepped down from the board effective Dec. 31.

Under terms of the agreement, Ocumension (1477.HK) purchased approximately 3.01 million shares of EyePoint’s (NASDAQ: EYPT) common stock at a five-day trailing volume weighted average price as of the close of trading on Dec. 29 of approximately $5.22 per share.

Advertisement

Cash and cash equivalents are estimated to be approximately $44 million on Dec. 31, including the net proceeds from the Ocumension equity investment.

SPONSORED VIDEO

SPONSORED BY VARILUX

The Best Overall Progressive Lens, Now Powered by AI

Engineered with Behavioral Artificial Intelligence and utilizing new XR-motion™ technology, Varilux XR series goes beyond prescription and eye physiology to consider the patient’s visual behavior and design a progressive lens that respects how
their eyes naturally move.

Varilux XR series comes in two versions, Varilux® XR design and Varilux® XR track. The Varilux XR track lens provides an additional level of personalization by incorporating the exclusive Near Vision Behavior Measurement, providing up to 25% more near vision width3 according to the patient’s need, so patients get the highest level of customization.

Discover Varilux XR series and enjoy instantly sharp vision in motion4 and seamless transitions from near to far.

For more information, visit here.

Promoted Headlines

Advertisement

Advertisement

Subscribe

INVISIONMAG.COM
BULLETINS

Get the most important news and business ideas for eyecare professionals every weekday from INVISION.

Advertisement

Advertisement

Most Popular