Pixium Vision - Pixium Vision to combine with Second Sight
On 6 January Pixium Vision announced it and Second Sight (EYES, Nasdaq) had entered a memorandum of understanding (MoU) to combine their businesses. Second Sight is developing the Orion Visual Cortical Prosthesis System, which is in a US feasibility study and is designed to provide useful artificial vision by sending electric impulses directly to the visual cortex. The stock-based transaction, which will also comprise a c $25m capital raise, will enable both companies to pool their resources in complementary sight-restoration neuromodulation technologies and build a one-company solution for many causes of blindness. The combined company’s Nasdaq listing may also provide broader access to future financing sources. The transaction is subject to shareholder and French regulatory approval, the attainment of a $25m capital raise (not yet committed) and is guided to close by early Q221. We are maintaining our valuation and financial forecasts for Pixium Vision (standalone and excluding any contribution from Second Sight) at this time but will revise them on transaction completion.Pixium Vision SA is a company that specializes in sensorial neuromodulation. Co. is also collaborating with scientific groups and clinicians at research institutes and clinical centers around the world, including Stanford University (USA). Co. is developing and aims to commercialize Bionic Vision Systems (BVS) – namely active implantable medical devices to treat blindness caused by degeneration of photoreceptor cells in the retina.
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