Ocumension makes $15.7 million equity investment in EyePoint
EyePoint Pharmaceuticals received a $15.7 million equity investment from Ocumension Therapeutics, according to a press release.
China-based Ocumension purchased about 3.01 million shares of EyePoint’s common stock at an estimated price of $5.22 per share.
“This investment underscores our continued strong partnership with Ocumension for Yutiq and Dexycu in Asia,” Nancy Lurker, president and CEO of EyePoint, said in the release. “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.”
In addition to the investment, Ye Liu, CEO of Ocumension, was appointed to the EyePoint board of directors.