Pixium Vision announces receipt of € 1.8 million from the French Government as Research Tax Credit

Pixium Vision announces receipt of € 1.8 million from the French Government as Research Tax Credit

• €1.8 million research tax credit received on June 7, 2023, to extend runway to the end of September 2023
• Lloyd Diamond participates at the Octane Ophthalmology Tech Forum
• Edison published an updated analyst report  
  
  
  
  

Paris, France, June 8, 2023 – 07:00 CET – Pixium Vision SA (Euronext Growth Paris - FR0011950641; Mnemo: ALPIX), a bioelectronics company that develops innovative bionic vision systems to enable patients who have lost their sight to live more independent lives, announces today that it has received a € 1.8 million Research Tax Credit.

This cash injection will help extend the company’s cash runway until the end of September 2023, providing more flexibility to pursue its longer-term funding needs to support its strategic ambitions.

CEO Lloyd Diamond commented: “We remain convinced that the Prima System could offer real hope to Dry AMD (Geographic Atrophy) and retinal disease patients, and this cash injection will provide Pixium with enhanced resources strengthening our position in partnering discussions with investors. It is becoming increasingly evident that in the future, patients suffering from other profound central vision impairment should also be able to benefit from the Prima Bionic Vision System.” “The recent FDA breakthrough device designation granted this past March 2023 gives us further confidence in the potential of photovoltaic neurostimulation to restore vision in patients suffering from retinal degenerative diseases” he added.

Pixium Vision continues to focus on their pivotal European study assessing the safety and clinical benefits of the wireless PRIMA System in patients with geographic atrophy due to age-related macular degeneration (GA-AMD). Having completed the required 38 implantations of the “PRIMAvera study” in late 2022, the top-line data are expected around year-end 2023 and EU market approval in 2024.

Furthermore, Pixium Vision announces participation at the Octane Ophthalmology Tech Forum.

• EXPERIENCE: Partnership Pursuit: Physician & Entrepreneur Reception (by invite only)
  • Thursday June 8th, 4:30 – 5:30 pm PST - Mariner Room

•  LUNCH & EXPERIENCE: Capital and Growth Main Stage Presentation
  • Friday, June 9^th 1:15 - 2:30 pm- Grand Ballroom
  • Andrew Douglas, Partner, Knobbe Martens (Moderator)
    
    
    
    

• PANEL: Bringing Unmet Needs to Market
  • Friday June 9th- 4:00 – 4:30 pm PST- Grand Ballroom
  • Richard Lindstrom, MD, Minnesota Eye Consultants (Moderator)
    
    
    
    

Lloyd Diamond, Chief Executive Officer of Pixium Vision, will give an in-person presentation - Registration for the conference is open .

In May 2023 Edision published an updated investment research report after the announcement of the annual report of Pixium Vision for 2022, the receipt of the Breakthrough Device Designation in the US and the subsequent conversion of ESGO, valuing Pixium Vision at €140 million. The report is available .

About Pixium Vision

Pixium Vision is creating a world of bionic vision for those who have lost their sight, enabling them to regain visual perception and greater autonomy. Pixium Vision’s bionic vision systems are associated with a surgical intervention and a rehabilitation period. Prima System sub-retinal miniature photovoltaic wireless implant is in clinical testing for patients who have lost their sight due to outer retinal degeneration, initially for atrophic dry age-related macular degeneration (dry AMD). Pixium Vision collaborates closely with academic and research partners, including some of the most prestigious vision research institutions in the world, such as Stanford University in California, Institut de la Vision in Paris, Moorfields Eye Hospital in London, Institute of Ocular Microsurgery (IMO) in Barcelona, University hospital in Bonn, and UPMC in Pittsburgh, PA. The Company is EN ISO 13485 certified and qualifies as “Entreprise Innovante” by Bpifrance.

Forward-Looking Statements. This press release contains certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For a discussion of risks and uncertainties which could cause the Company's actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risques”) section of the Company’s 2022 Half-Year Financial Report and other documents the Company files with the AMF, which is available on the AMF website (- france.org) or on the Company’s website.

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