TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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SFNet's 40 Under 40 Award Winners Panel Recap
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Potential Impacts of Blockchain on Commercial Lending
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Audit Prep: Why a Paperless Approach Makes Sense
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May 10, 2021
Source: GlobeNewswire
Eyenovia, Inc. (NASDAQ: EYEN), a clinical stage ophthalmic biopharmaceutical company developing a pipeline of microdose array print (MAP™) therapeutics, today announced that the company has entered into a new $25 million credit financing facility with Silicon Valley Bank (SVB).
“This non-dilutive credit facility provides us with a significant amount of financial and operating flexibility at terms that we believe are favorable to the company,” stated Dr. Sean Ianchulev, Chief Executive Officer and Chief Medical Officer of Eyenovia. “These funds will assist us in preparing for our anticipated Mydcombi launch, advancing the development of MicroLine, as well as exploring additional ophthalmologic indications that could leverage our Optejet microdosing technology, all key elements of our long-term growth strategy.”
Eyenovia received $7.5 million upon closing of the facility. The remaining $17.5 million is available in two tranches and is accessed at the company’s option subject to the achievement of milestones.
“We are excited to support the Eyenovia team with this new financing facility as they continue to grow,” said Clark Hayes, Managing Director of Life Sciences and Healthcare at Silicon Valley Bank. “Eyenovia’s microdose array print platform technology is a key advancement in ocular pharmaceuticals and provides an efficient and precise alternative to conventional eyedroppers.”
About Eyenovia, Inc.
Eyenovia, Inc. (NASDAQ: EYEN) is a clinical stage ophthalmic biopharmaceutical company developing a pipeline of microdose array print (MAP) therapeutics. Eyenovia is currently focused on the late-stage development of microdosed medications for presbyopia, myopia progression and mydriasis. For more Information, visit www.eyenovia.com.
About Silicon Valley Bank
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators. Learn more at svb.com.
Eyenovia Contact:
Eyenovia, Inc.
John Gandolfo
Chief Financial Officer
jgandolfo@eyenovia.com
Eyenovia Investor Contact:
Eric Ribner
LifeSci Advisors, LLC
eric@lifesciadvisors.com
(646) 751-4363
Eyenovia Media Contact:
Diana Soltesz
Pazanga Health Communications
dsoltesz@pazangahealth.com
(818) 618-5634
