Oculis has amended its loan facility with BlackRock, increasing potential access to CHF 100M. The company develops therapies for ophthalmic and neuro-ophthalmic diseases.

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Lausanne-based biopharmaceutical company Oculis has amended its loan facility with funds and accounts managed by BlackRock, increasing the facility to allow access of up to CHF 100M (nearly €106.23M).

The Swiss company develops and provides therapies for ophthalmic and neuro-ophthalmic diseases.

Oculis announced it has replaced its May 29, 2024, loan agreement with an amended facility from BlackRock, providing CHF 75M in borrowing capacity, with the option to increase to CHF 100M. 

The facility includes three tranches of CHF 25M each and an additional loan of up to CHF 25M available under mutually agreed terms. No funds were drawn at signing.

Riad Sherif, M.D., CEO of Oculis, says, “We are pleased to have upsized our previous loan agreement with funds and accounts managed by BlackRock, which expands an instrument allowing enhanced flexibility to ensure the future financial and operational strength of Oculis.”

“Our current robust cash position provides runway into early 2028, which is further strengthened by the loan facility, as we remain focused on advancing our portfolio of differentiated assets and bringing transformative treatments to those who need them most.”

Rethinking ophthalmology

Oculis is a biopharmaceutical company developing treatments for ophthalmic and neuro-ophthalmic conditions. 

Its late-stage pipeline includes OCS-01, an eye drop in registration studies for diabetic macular edema; Privosegtor (OCS-05), a neuroprotective candidate in Phase 2 for acute optic neuritis with potential applications in other neurological diseases; and Licaminlimab (OCS-02), a topical anti-TNFα in Phase 2 for dry eye disease using a genotype-based approach.

The company originated in Iceland, where the OPTIREACH solubilising formulation technology was developed to enable eye drops to reach the back of the eye. 

Currently, Oculis is headquartered in Switzerland, with operations in the US and Iceland, and became a dual-listed public company in March 2023.

Capital utilisation

Oculis will use the additional capital to support milestones across all three core assets. 

In the second half of 2025, the company plans regulatory discussions with the FDA on three indications for Privosegtor (OCS-05): acute optic neuritis, non-arteritic anterior ischemic optic neuritis (NAION), and treatment of acute relapses in multiple sclerosis (MS).

In the same period, Oculis will begin a Phase 2/3 trial of Licaminlimab (OCS-02) for dry eye disease. In the first half of 2026, the company will initiate a Phase 2/3 trial of Privosegtor (OCS-05) for acute optic neuritis.

Topline results from the OCS-01 Phase 3 DIAMOND trials are expected in the second quarter of 2026, followed by a potential first NDA filing in the second half of 2026 if results are positive.

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