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Pixium Vision announces its cash position at 31 March 2022 and provides an update on its activities and financial outlook until the end of 2022

·4-min read
Pixium Vision
Pixium Vision

Pixium Vision announces its cash position at 31 March 2022 and provides an update on its activities and financial outlook until the end of 2022

Paris, France, April 19, 2022 – 07:00 CET– Pixium Vision SA (Euronext Growth Paris - FR0011950641), a bioelectronics company that develops innovative bionic vision systems to enable patients who have lost their sight to live more independently, announces a cash position of €10.4 million at 31 March 2022 and reports on its key developments.

In total, at 31 March 2022, Pixium Vision’s cash position amounted to €10.4 million, compared to €14.5 million on 1 January 2022. Given its current cash position, the Company’s financial runway extends until the end of this year.

Pixium Vision is continuing to explore various avenues that will enable it to secure the cash flow necessary to pursue its development. In particular, the Company is considering several financing offers it received and, at the appropriate time, will disclose to the market the main terms of any offer it accepts and will submit them for the approval of the shareholders at the next general meeting if the timing for convening the meeting allows.

Key developments in the first quarter of 2022

Highlights of the first quarter of 2022 included the announcement of the publication of peer-reviewed clinical data in Nature Communications as well as the FDA approval to add Stanford Medicine as a clinical site to the US feasibility study .

In January, Pixium Vision announced the publication of peer-reviewed clinical data in Nature Communications demonstrating the clinical benefit of the Prima System* in Dry AMD patients. Some of the key takeaways amongst others were that the Prima System* implant was generally well tolerated over the 18-24 months period, and that the synchronous perception of natural and prosthetic vision has been demonstrated.

Furthermore, in March, Pixium Vision announced the FDA approval of clinical trial expansion of Prima System* US feasibility study to the Byers Eye Institute at Stanford Medicine. This new clinical site for the study joins the original two locations at the UPMC Eye Center in Pittsburgh and the Bascom Palmer Eye Institute in Miami.

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 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 2021 Half-Year Financial Report and other documents the Company files with the AMF, which is available on the AMF website (www.amf- france.org) or on the Company’s website.

For more information:

http://www.pixium-vision.com/fr

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Contacts

Pixium Vision
Offer Nonhoff
Chief Financial Officer
investors@pixium-vision.com
+33 1 76 21 47 68

Media Relations

LifeSci Advisors
Sophie Baumont
sophie@lifesciadvisors.com
+33 6 27 74 74 49

Investor Relations
LifeSci Advisors
Guillaume van Renterghem
gvanrenterghem@lifesciadvisors.com
+41 76 735 01 31

* CAUTION - Investigational device. Limited by United States law to investigational use.