Ocumetics nears first human lens implant

Executive Summary

• Ocumetics Technology Corp. has achieved key clinical milestones leading up to its first-in-human (FIH) implantations of its accommodating intraocular lens, including site initiation, ethics approval, and patient recruitment in Mexico City.
• The company has suspended the second tranche of its previously announced private placement due to the imminent FIH surgeries, intending to launch a new financing with revised terms after the procedures are completed.
• Tranche 1 of the financing was successfully completed, raising approximately $1.12 million, while the company outlines a schedule for upcoming surgeries and group 2 planning for Q1 2026.

Key Details

• Clinical Milestones Achieved:
  • June 26, 2025: Virtual site initiation completed for the clinical partner site in Mexico City.
  • July 9, 2025: Clinical study protocol training completed for the clinical team in Mexico City.
  • July 30, 2025: Verbal ethics committee approval received for the study protocol.
  • August 5, 2025: Patient recruitment commenced at the Mexico City clinical site.
  • August 8, 2025: Implantation of control lenses completed.
• Upcoming Clinical Activities:
  • Final site initiation and surgeon training immediately prior to FIH lens implantations.
  • First-in-human implantation of the Ocumetics accommodating intraocular lens.
  • Daily, weekly, and monthly patient progress monitoring.
  • Planning for Group 2 surgeries, anticipated in Q1 2026.
• Financing Update:
  • The company elected not to proceed with the second tranche of the private placement announced on June 4, 2025.
  • Tranche 1 Completion: Successfully raised $1,124,362 through the issuance of 3,212,462 units.
  • Transaction Costs: Paid fees of $68,610.
  • Warrants Issued: Issued 196,029 agent's warrants to Numus Capital Corp. for assistance on the financing.
  • Future Financing: The company intends to introduce a financing with revised terms following the completion of the historic FIH procedures.
• Product Context:
  • The technology involves an intraocular lens that fits within the natural lens compartment of the eye.
  • It is designed to allow the eye's natural muscle activity to shift focus from distance to near, potentially eliminating the need for corrective lenses.

Notable Quotes

• "This is a moment our entire team has been working toward for years... We're now just a few days away from transforming the future of vision correction with the first implantation of our groundbreaking accommodating intraocular lens. I couldn't be prouder of what our team has accomplished." — Dean Burns, Chief Executive Officer