Eyenovia Announces Closing of $50 Million Private Placement, Successful Accumulation of More Than One Million HYPE Tokens, and Update on its Optejet Development Program

The significant HYPE token position, acquired at an average price of approximately $34 per token, makes Eyenovia the first Nasdaq listed company to run a validator on Hyperliquid

FDA registration of the Optejet User Filled Device (UFD) on track for September 2025; meaningful partnering discussions ongoing

LAGUNA HILLS, Calif., June 23, 2025 (GLOBE NEWSWIRE) -- Eyenovia, Inc. (NASDAQ: EYEN) (“Eyenovia” or the “Company”), a pioneer in ophthalmic technologies and the first publicly-listed U.S. company to build a strategic treasury of HYPE, the native token of the Hyperliquid protocol, today announced the closing of its previously announced $50 million private placement (PIPE) with accredited investors.

The PIPE Financing enabled the Company to acquire 1,040,584.5 HYPE at an average price of approximately $34 per token. As part of the strategy, the Company also intends to initiate its own network validator alongside an ecosystem partner, which will support the liveness of the Hyperliquid blockchain and lay the foundation for accessing HYPE staking yield.

Michael Rowe, Chief Executive Officer of Eyenovia, stated, “The closing of this transformational financing is the first step in the execution of our new cryptocurrency treasury reserve strategy. We believe this initiative will create long-term value for our shareholders by capitalizing on the growing adoption of digital currencies and the accelerating pace of related innovation. At the same time, we remain sharply focused on efficiently completing the remaining development steps in support of FDA registration of the Optejet UFD.”

“The steps we are taking are intended to provide the best vehicle for retail and institutional investors to access HYPE and its native yield in a secure, custodied environment,” said Hyunsu Jung, Chief Investment Officer of Eyenovia. “The Company’s successful purchase of our initial HYPE position paves the way for deeper engagement in the Hyperliquid ecosystem.”

Chardan acted as the sole placement agent in connection with the transaction.

Pending Board approval in the coming days, Eyenovia is expected to change its name and ticker to “Hyperion DeFi” and “HYPD,” respectively.

Optejet Development Update

Development of the Optejet UFD continues to progress according to the Company’s projected timelines, with verification and validation activities expected to commence next month. Eyenovia remains on track to register the device with the FDA in September of this year.  

The Company has initiated dialogue with several potential partners for licensure of the platform, initially focused on applications in OTC lens rewetting and artificial tears.

About the Hyperliquid Platform and the HYPE Token

Hyperliquid is a layer one blockchain (L1) optimized from the ground up for high frequency, transparent trading. The blockchain includes fully onchain perpetual futures and spot order books, with every order, cancel, trade, and liquidation occurring within 70 millisecond block times. It also hosts the HyperEVM, a general-purpose smart contract platform that, like Ethereum, supports permissionless decentralized financial applications.

HYPE is the native token of Hyperliquid. Staked HYPE in particular provides utility for users via reduced trading fees and increased referral bonuses. Circulating HYPE is autonomously purchased and sequestered by the blockchain itself with the trading fees generated on the network’s order books. As of June 2025, more than 25 million HYPE has been sequestered by this mechanism, and the token has become the 12th-largest cryptocurrency by market capitalization.

About Eyenovia, Inc.

Eyenovia, Inc. is a pioneering digital ophthalmic technology company and the first U.S. publicly listed company building a long-term strategic treasury of Hyperliquid’s native token, HYPE. With this dual focus, Eyenovia continues to revolutionize topical eye treatment while providing its shareholders with simplified access to the Hyperliquid ecosystem, one of the fastest growing, highest revenue-generating blockchains in the world. Shareholders benefit from a gradually compounding exposure to HYPE, both from its native staking yield and additional revenues generated from its unique on-chain utility.

Eyenovia is also developing its proprietary Optejet User Filled Device (UFD) that is designed to work with a variety of topical ophthalmic liquids, including artificial tears and lens rewetting products. The Optejet is especially useful in chronic front-of-the-eye diseases due to its ease of use, enhanced safety and tolerability, and potential for superior compliance versus standard eye drops. Together, these benefits may result in higher treatment compliance and better outcomes for patients and providers.

For more information, please visit Eyenovia.com.

Forward Looking Statements

The offer and sale of the foregoing securities were made in a transaction not involving a public offering, and have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Concurrently with the execution of the Securities Purchase Agreement, the Company and the investors entered into a registration rights agreement, pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission (the “SEC”) registering the resale of the shares of common stock underlying the preferred stock and the warrants.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Except for historical information, all the statements, expectations and assumptions contained in this press release are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements, our future activities or other future events or conditions, including the estimated market opportunities for our platform technology, the viability of, and risks associated with, our new cryptocurrency treasury strategy, the clinical trials that may be necessary in connection with the clearance of the Optejet UFD, and the timing for sales growth of our approved products. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and in some cases are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors discussed from time to time in documents which we file with the U.S. Securities and Exchange Commission.

In addition, such statements could be affected by risks and uncertainties related to, among other things: risks of our clinical trials, including, but not limited to, the potential advantages of our products, and platform technology; the rate and degree of market acceptance and clinical utility of our products; our estimates regarding the potential market opportunity for our products; reliance on third parties to develop and commercialize our products; the ability of us and our partners to timely develop, implement and maintain manufacturing, commercialization and marketing capabilities and strategies for our products; intellectual property risks; changes in legal, regulatory, legislative and geopolitical environments in the markets in which we operate and the impact of these changes on our ability to obtain regulatory approval for our products and product candidates; our competitive position; and our ability to raise additional funds to maintain our business operations and to make payments on our debt obligations as and when necessary.

Any forward-looking statements speak only as of the date on which they are made, and except as may be required under applicable securities laws, Eyenovia does not undertake any obligation to update any forward-looking statements.

Eyenovia Investor Contact:

Eric Ribner

LifeSci Advisors, LLC



(646) 751-4363