Alcon AG

Dive Brief:Venture capital investment in medtech companies rose roughly 3% year over year to $3.3 billion in the second quarter, according to a new report from market data resarch firm Pitchbook.At the current rate, VC funds will invest close to 20% more in medtech firms this year than in 2023, Pitchbook said, offering support for the view that the industry has passed through the trough of funding.The value of exits for venture-backed medtech companies increased to $6.6 billion in the first half of 2024, although the data are skewed by Tempus initial public offering. Acquisitions of late-stage VC startups have been rare, a fact Pitchbook attributed to ongoing price gaps between buyers and sellers.Dive Insight:The number and value of VC investments in medtech companies peaked in 2021, per Pitchbooks data. Compared to the peak, the number of investments in 2023 was down 27% and the amount invested had fallen by 45%. Last year appears to be the low point for investment.VC investment fell sequentially in 2024, slipping from $3.5 billion in the first quarter to $3.3 billion in the second quarter. However, investment in the second quarter was still up about 3% year over year. The results suggest investment in 2024 can exceed the $11.5 billion seen last year.The number of investments, at 419, is tracking below the pace of 2023. The amount invested has increased despite flat to down deal numbers because VC funds have placed big bets on a small number of companies. Pitchbook said there were five deals above $100 million in the quarter, and the increase indicates ongoing investor preference for quality and optimism around greater exit possibilities.A $150 million investment in Insightec, a developer of focused ultrasound treatment, was the largest VC round in the second quarter. Pitchbook estimates Insightec will exit by listing its shares on a stock exchange.The prediction follows a quarter in which Tempus raised $400 million in an IPO. The public offering by the precision medicine company showed unprofitable medtech companies can go public in the current environment. Pitchbook said Tempus success could shift investors' willingness to support unprofitable companies if a public listing emerges as a realistic possibility.The extent to which the IPO window opens could affect mergers and acquisitions. Belkin Vision, Attune Medical, C2i Genomics and Blackrock Neurotech were all acquired in the quarter. Combined with the IPO exits, the deals led Pitchbook to view VC exit levels in medtech for 2024 so far as a solid win for the sector and a positive sign for deal value and exit momentum going forward.Yet, the Pitchbook analysts said deal activity for late-stage VC startups is lagging acquisitions of larger, publicly traded companies such as Shockwave Medical, Axonics, Abiomed and Silk Road Medical. The analysts attributed the lack of buyouts of venture-backed firms to sellers asking for more than buyers are willing to pay. The availability of IPOs as an exit option may influence whether the valuation gap persists.If the IPO window remains closed, this could benefit strategics from an M&A standpoint, as startups may be more willing to be acquired at a reasonable multiple, wrote Pitchbook. '

SEATTLE & CAMBRIDGE, Mass. & TOKYO--( BUSINESS WIRE )-- Aurion Biotech, whose mission is to restore vision to millions of patients with life-changing regenerative therapies, today announced that it will present clinical data on its allogeneic cell therapy drug candidate, AURN001, at the 42 nd Congress of the European Society of Cataract and Refractive Surgeons (ESCRS 2024) to be held September 6-10, 2024 in Barcelona, Spain. Aurion Biotech also will present and participate in several panel discussions during the Ophthalmology Futures European Forum , which takes place September 5 th in Barcelona. “We are thrilled to share clinical findings, as well as clinical and business milestones in multiple sessions at ESCRS and the Ophthalmology Futures European Forum,” said Dr. Michael Goldstein, president and chief medical Officer. “In particular, we believe that efficacy and safety data from the Escalón clinical trial provide additional insights into how our combination drug candidate may have a positive impact on the lives of patients suffering from corneal endothelial dysfunction.” The schedule of presentations is as follows: Ophthalmology Futures European Forum Will Novel Dry Eye Therapies Really Make a Difference? Thursday, September 5, 2024 1:15 p.m. – 1:45 p.m. CET The Esferic, Barcelona Panelist: Michael Goldstein, MD, MBA, President and Chief Medical Officer Cell, Gene and other Novel Corneal Therapies: Outlook for the Second Quarter of the 21 st Century Thursday, September 5, 2024 1:45 p.m. – 2:15 p.m. CET The Esferic, Barcelona Panelist: Greg Kunst, Chief Executive Officer Transformational Cell Therapy for Corneal Endothelial Disease Thursday, September 5, 2024 2:30 p.m. – 3:15 p.m. CET The Esferic, Barcelona Presenter: Greg Kunst, Chief Executive Officer Patient- vs. Provider-Centric Biotech & MedTech Innovation Thursday, September 5, 2024 6:45 p.m. – 7:15 p.m. CET The Esferic, Barcelona Panelist: Eris Jordan, OD, Vice President, Global Clinical & Medical Affairs ESCRS iNovation Day Transformational Cell Therapy for Corneal Endothelial Disease Friday, September 6, 2024 11:26 a.m. – 12:23 p.m. CET Fira Gran Via, Barcelona Presenter: Greg Kunst, Chief Executive Officer ESCRS Human Corneal Endothelial Cell Transplantation Combined with Cataract Extraction and PCIOL in Subject with Corneal Edema Sunday September 8, 2024 1:15 p.m. – 1:45 p.m. CET Pod 1 (between Exhibition Halls), Fira Gran Via, Barcelona Presenter: Michael Goldstein, MD, MBA, President and Chief Medical Officer Escalón: 12-Month Safety and Efficacy Clinical Trial of Human Corneal Endothelial Cell Therapy for Corneal Edema Secondary to Endothelial Dysfunction Monday, September 9, 2024 5:30 p.m. – 5:36 p.m. CET Free paper podium 2, Fira Gran Via, Barcelona Presenter: Michael Goldstein, MD, MBA, President and Chief Medical Officer Consistency of Outcomes with Injectable Human Corneal Endothelial Cell Therapy Across Multiple Clinical Trials Monday, September 9, 2024 5:36 p.m. – 5:42 p.m. CET Free paper podium 2, Fira Gran Via, Barcelona Presenter: Eris Jordan, OD, Vice President, Global Clinical & Medical Affairs Aurion Biotech’s drug candidate, AURN001, recently received both Breakthrough Therapy Designation and Regenerative Medicine Advanced Therapy Designation from the U.S. Food and Drug Administration for the treatment of corneal edema secondary to corneal endothelial disease. In Japan, Aurion has received both regulatory and reimbursement approval for the treatment of bullous keratopathy, marking the first-ever approval in the world for an allogeneic cell therapy to treat corneal endothelial disease. About Aurion Biotech Aurion Biotech is a clinical-stage biotech company, whose mission is to restore vision to millions of patients with life-changing regenerative therapies. It received the prestigious Prix Galien award for best start-up in biotech in 2022. Its first product candidate is for the treatment of corneal edema secondary to corneal endothelial disease, and the first clinically validated cell therapy for corneal care, having received regulatory and reimbursement approval in Japan. The Company has completed enrollment and dosing of its Phase 1 / 2 clinical trial in the U.S. and Canada. Privately held, Aurion Biotech is backed by Deerfield, Alcon, Petrichor, Flying L Partners, Falcon Vision / KKR, and Visionary Ventures. To learn more, visit www.aurionbiotech.com .

SHANGHAI, Aug. 12, 2024 /PRNewswire/ -- On August 13th 2024, Ocumension Therapeutics (" OcuMension") announced an agreement with Alcon Inc. (" Alcon", and collectively with OcuMension, the " Parties") where OcuMension will acquire or secure commercialization rights in China to a portfolio of Alcon dry eye treatments and procedural drops, including several commercially available products and one development-stage product. The scope of the agreement will also cover areas of R&D, manufacturing and commercialization in China. In connection with the transfer of these rights, OcuMension will issue 139,161,120 shares to Alcon, accounting for 16.71% of the total share capital (post-issuance). Consequently, Alcon becomes one of the largest shareholders of OcuMension. Under the terms of the arrangement, each company has granted the other company a right of first negotiation over future products. OcuMension, as a leading Chinese ophthalmic pharmaceutical platform company, focuses on integrating comprehensive capabilities across the entire lifecycle of ophthalmic drug development—from research and development to commercialization. OcuMension possesses a portfolio of 25 pharmaceutical assets. Alcon, the global leader in eye care, offers a broad portfolio of products to enhance sight and improve lives for patients in more than 140 countries. Under this arrangement, OcuMension will acquire outright, Tears Natural® Forte, Bion Tears, Alcaine®, Fluorescite, and Cyclogyl, in the Chinese market and the commercialization rights in China to Systane® Ultra and AR-15512, a novel topical drug candidate for dry eye. Under the terms of this agreement, OcuMension will manufacture those products acquired outright for China after a transition period. OcuMension will also develop, manufacture and commercialize AR-15512 in China. The addition of these seven mature products and AR-15512 to OcuMension's portfolio is expected to further enhance OcuMension's leadership in the ophthalmology field in the China market. Through the acquisition of these products, OcuMension expects to be capable of providing more comprehensive and advanced treatment solutions, further meeting patient needs and expanding market share. The Parties expect that the framework of this agreement will allow both Parties to further promote technological advancements and innovations in the field of ophthalmology. Ophthalmic diseases are internationally recognized as one of the highly focused medical sub-sectors, with innovative treatment solutions for ophthalmology still awaiting development. Based on this, OcuMension will continue to focus on bringing safer, more efficient, and cutting-edge treatment solutions to global ophthalmic patients, meeting the growing medical needs of patients. About Alcon Alcon helps people see brilliantly. As the global leader in eye care with a heritage spanning over 75 years, Alcon offers the broadest portfolio of products to enhance sight and improve people's lives. Alcon's Surgical and Vision Care products touch the lives of more than 260 million people in over 140 countries each year living with conditions like cataracts, glaucoma, retinal diseases and refractive errors. Alcon's more than 25,000 associates are enhancing the quality of life through innovative products, partnerships with Eye Care Professionals and programs that advance access to quality eye care. Learn more at . About OcuMension OcuMension is a China-based ophthalmic pharmaceutical platform company dedicated to identifying, developing and commercializing first- or best-in-class ophthalmic therapies. OcuMension's vision is to provide a world-class pharmaceutical total solution to address significant unmet ophthalmic medical needs in China. Since its inception, OcuMension has focused on building a platform integrating specialized capabilities in each major functionality involved in an ophthalmic drug's development cycle, from research and development, manufacturing to commercialization. OcuMension believes its platform positions it well to achieve leadership in China ophthalmology, with a first-mover advantage over future competitors. Advisors Morrison Foerster acted as legal advisor to OcuMension in this transaction. Lazard acted as financial advisor to Alcon and Gibson Dunn as its legal advisor. SOURCE OcuMension