Oculis Upsized Loan Facility to Access up to CHF 100 million

Rhea-AI Summary

Oculis (NASDAQ: OCS) has amended its loan agreement with BlackRock, significantly expanding its borrowing capacity to CHF 75 million, with potential increase to CHF 100 million. The loan comprises three tranches of CHF 25 million each, plus an additional potential CHF 25 million subject to mutual agreement.

The enhanced facility provides financial flexibility beyond current cash reserves as Oculis approaches key milestones, including FDA discussions for Privosegtor in three indications, initiation of Licaminlimab Phase 2/3 trial, and OCS-01 Phase 3 trial results. The company's current cash position extends runway into early 2028.

Positive

• Upsized loan facility provides access to up to CHF 100 million in additional capital
• Current cash runway extends into early 2028
• Multiple near-term catalysts across three core assets in 2025-2026
• Enhanced financial flexibility with no immediate draw on the facility

Negative

• Additional debt could increase financial obligations
• Loan agreement terms and interest rates not disclosed

Insights

Biopharmaceutical Finance Specialist

Oculis secures expanded CHF 100M loan facility, extending runway to early 2028 and supporting advancement of three core clinical programs.

Oculis has significantly strengthened its financial position by upsizing its loan agreement with BlackRock, providing access to CHF 75 million in borrowing capacity (expandable to CHF 100 million). This amended agreement replaces their May 2024 facility and is structured in three CHF 25 million tranches, with a potential fourth tranche of CHF 25 million available on mutually agreed terms.

The financing enhancement is strategically timed to support multiple near-term clinical milestones across Oculis' pipeline, including:

• FDA regulatory discussions for Privosegtor (OCS-05) across three indications in H2 2025
• Initiation of Licaminlimab (OCS-02) Phase 2/3 trial for dry eye disease in H2 2025
• Launch of Privosegtor Phase 2/3 trial for acute optic neuritis in H1 2026
• OCS-01 Phase 3 DIAMOND trial readouts in Q2 2026, potentially leading to an NDA filing in H2 2026

What's particularly notable is that no amounts were drawn at signing, indicating this facility functions as financial insurance rather than immediate operational funding. Management reports their current cash position already provides runway into early 2028, with this facility serving as additional flexibility.

This financial maneuver strengthens Oculis' negotiating position as they approach critical clinical and regulatory milestones. The expanded facility gives them operational latitude to pursue optimal development strategies without capital constraints potentially forcing compromises. For a clinical-stage biopharmaceutical company with multiple programs advancing toward late-stage development and potential commercialization, securing this additional financial backstop without immediate dilution represents prudent capital management.

ZUG, Switzerland, Aug. 01, 2025 (GLOBE NEWSWIRE) -- Oculis Holding AG (Nasdaq: OCS; XICE: OCS) (“Oculis” or the “Company”), a global biopharmaceutical company focused on innovations addressing ophthalmic and neuro-ophthalmic diseases with significant unmet medical needs, today announced that it has amended its loan facility (the “Amended Loan Agreement”) with funds and accounts managed by BlackRock (the “Lender”).

The Amended Loan Agreement replaces the prior loan agreement between Oculis and the Lender dated May 29, 2024, and the upsized structure will provide CHF 75.0 million in borrowing capacity (which may be increased to up to CHF 100.0 million) (the “Loan”).  The Loan comprises tranches 1, 2 and 3, in the amounts of CHF 25.0 million each, as well as an additional loan of up to CHF 25.0 million, which may be made available by the Lender to Oculis on mutually agreed terms.  No amounts were drawn at signing.

Access to this additional capital offers significant financial flexibility beyond Oculis’ current cash reserves as the Company moves toward upcoming key milestones across all three core assets: regulatory discussions with the FDA on three indications investigated with Privosegtor (OCS-05) for acute optic neuritis, non-arteritic anterior ischemic optic neuritis (NAION), and treatment of acute relapses in multiple sclerosis (MS) during 2H 2025; initiation of Licaminlimab (OCS-02) Phase 2/3 trial for dry eye disease in 2H 2025; initiation of Privosegtor (OCS-05) Phase 2/3 trial for acute optic neuritis in 1H 2026; OCS-01 Phase 3 DIAMOND trials’ topline results in Q2 2026, and if positive, its first NDA filing in 2H 2026.

Riad Sherif, M.D., Chief Executive Officer of Oculis, said, “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.” 

About Oculis

Oculis is a global biopharmaceutical company (Nasdaq: OCS; XICE: OCS) focused on innovations addressing ophthalmic and neuro-ophthalmic conditions with significant unmet medical needs. Oculis’ highly differentiated late-stage clinical pipeline includes three core product candidates: OCS-01, an eye drop in pivotal registration studies, aiming to become the first non-invasive topical treatment for diabetic macular edema; Privosegtor (OCS-05), a first-in-class neuroprotective candidate in Phase 2 for acute optic neuritis, with potentially broad clinical applications in various neuro-ophthalmic and neurological diseases; and Licaminlimab (OCS-02), a novel, first-in-class topical anti-TNFα in Phase 2, being developed with a genotype-based approach to drive personalized medicine in dry eye disease (DED). Headquartered in Switzerland with operations in the U.S. and Iceland, Oculis is led by an experienced management team with a successful track record and supported by leading international healthcare investors.

For more information, please visit: www.oculis.com

Oculis Contacts

Ms. Sylvia Cheung, CFO
sylvia.cheung@oculis.com

Investor Relations
LifeSci Advisors
Corey Davis, Ph.D.
cdavis@lifesciadvisors.com

Media Relations
ICR Healthcare
Amber Fennell / David Daley / Sean Leous
oculis@icrhealthcare.com

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements and information. For example, statements regarding the future drawdowns of the Loan, the expected use of proceeds from the Loan, the Company’s expected financial position and cash runway timing, the progress and results of current and future clinical trials, Oculis’ research and development programs, regulatory and business strategy, including planned interactions with the FDA; Oculis’ future development plans; and the timing or likelihood of regulatory filings and approvals are forward-looking. All forward-looking statements are based on estimates and assumptions that, while considered reasonable by Oculis and its management, are inherently uncertain and are inherently subject to risks, variability, and contingencies, many of which are beyond Oculis’ control. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by an investor as, a guarantee, assurance, prediction or definitive statement of a fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. All forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those that we expected and/or those expressed or implied by such forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of Oculis, including those outlined in the Risk Factors section of Oculis’ annual report on Form 20-F and any other documents filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov. Oculis undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

FAQ

What is the new loan facility amount for Oculis (OCS)?

Oculis has secured an amended loan facility providing CHF 75 million in borrowing capacity, which can be increased to up to CHF 100 million. The loan is structured in three tranches of CHF 25 million each, plus a potential additional CHF 25 million.

How long does Oculis' (OCS) current cash runway extend?

Oculis' current cash position provides runway into early 2028, which is further strengthened by the new loan facility.

What are the key upcoming milestones for Oculis (OCS)?

Key milestones include FDA discussions for Privosegtor in 2H 2025, initiation of Licaminlimab Phase 2/3 trial in 2H 2025, OCS-01 Phase 3 trial results in Q2 2026, and potential NDA filing in 2H 2026.

Who is providing the loan facility to Oculis (OCS)?

The loan facility is provided by funds and accounts managed by BlackRock, amending a previous loan agreement dated May 29, 2024.

Has Oculis (OCS) drawn any amounts from the new loan facility?

No, no amounts were drawn at signing of the amended loan agreement.