Occulis raises more funding

Earlier this month Viðskiptablaðið reported the Iceland-founded biopharmaceutical company Oculis, which is purposefully driven to save sight and improve eye care with innovations, has raised $15M from both Icelandic and foreign investors in addition to previously announced funding in anticipation of listing on the market.

This funding is in addition to 11,5 billion ISK funding the company announced in October. Along with last year’s funding, Oculis announced that the company had entered a definitive business combination agreement with European Biotech Acquisition Corp (EBAC), a special purpose acquisition company (SPAC). Through this agreement, Oculis is set to merge with EBAC and be listed on the Nasdaq.

One of Oculis’s most advanced product candidates, OCS-01, is based on patented technology which makes it possible to treat retinal edema with eye-drops. OCS-01 has entered international phase III in clinical trials for treating diabetic macular edema and it has the potential to provide a new and potentially the first non-invasive option for patients.

See more on Viðskiptablaðið's website.