Pixium Vision Is Setting its Sights on Finding a Buyer
23 Oct 2023
Acquisition
Pixium Vision is looking for a buyer a little more than two years after ending a deal to acquire Second Sight Medical Products.
Last week, the Paris, France-based company and maker of bionic eye implants announced the launch of a process to find buyers. The company said it was undertaking this measure because it could not find financial investors within the restricted timeframe and in line with its needs.
The company said the deadline for submission of offers has been set by the court-appointed administrators to November 20, 2023 at 12:00 p.m.
Earlier this year, Pixium won breakthrough device designation for the Prima System, an implant to help treat dry age-related macular degeneration.
The designation came at a time when Pixium was well-removed from a merger attempt with Second Sight Medical Products. Pixium terminated plans to acquire the Second Sight company because the Sylmar, CA-based company filed for a private placement of $27.9 million. Pixium noted that placement violated the memorandum of understanding between the two.
Second Sight would go on to merge with Nano Precision Medical to be rebranded as Vivani Medical.
About a year after the merger plans were put on halt, a Paris Commercial Court ordered the merged company to pay Pixium $1.68 million for violating the MoU.
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