Pixium Vision - Refining Prima system before starting pivotal trial
Pixium Vision recently reported H119 financial results, with operating cash flows consistent with expectations. Importantly, the company announced improvements to the Prima Bionic Vision System (BVS), particularly with respect to the augmented reality (AR) glasses worn by patients, termed Prima 2. It plans to conduct feasibility testing on the second-generation system prior to commencing EU pivotal studies, which are now planned to start in H120 (vs H219 previously). This may de-risk the system prior to starting pivotal trials, but pushes back our EU and US commercialisation projections to 2023 and 2025, respectively, versus our prior forecasts of H222 and 2024, respectively. We now obtain a pipeline rNPV (including net cash) of €76.0m, vs €99.5m previously.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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