Eyenovia Expands Its US Manufacturing Capabilities

June 06, 2023 at 09:00 AM EDT

Eyenovia is stepping up the capabilities of its facilities and taking advantage of the thriving innovation culture and expertise in Reno, Nevada, and Redwood City, California

NEW YORK, NY / ACCESSWIRE / June 6, 2023 / Eyenovia, Inc. (NASDAQ: EYEN), an ophthalmic technology company commercializing and developing the Optejet® device for use both in connection with its own mydriasis product and product candidates for presbyopia and pediatric progressive myopia as well as out-licensing for additional indications, is proud to announce the expansion of its U.S. manufacturing facilities in Redwood City, California, and Reno, Nevada.

Eyenovia, Inc., Tuesday, June 6, 2023, Press release picture

The Bay Area is known for its thriving biotech industry, and in Reno, the medical device and technology sectors are booming in part due to having the largest industrial park in the world, which are some of the driving factors behind Eyenovia's expansion plans.

The Redwood City facility, which was announced operational last year, focuses primarily on Optejet® pharmaceutical manufacturing finishing operations, including drug loading, labeling, and packaging prior to distribution. The new Reno facility will focus on device manufacturing and boasts over 10,000 square feet of space to better serve the growing needs of the company.

"We are pleased to continue executing on our manufacturing strategy by expanding our capabilities in Redwood City and Reno," said Michael Rowe, CEO of Eyenovia. "Our new and upgraded facilities will allow us to continue the development of our existing and future products, better serving our licensees and partners and continuing to advance our mission of improving the delivery of topical ophthalmic therapies."

The U.S. culture of innovation, abundance of investment sources and access to capital markets also contribute to a thriving and innovative environment. According to a 2022 report on the US Biotech Industry:

The biotech industry employed 2.1 million employees across more than 127,000 U.S.-based organizations in 2021.

Despite the overall economy shedding 1.5% of its job base, the bioscience industry in the U.S. has increased employment by 11% since 2018.

The biotech industry's impact on the U.S. economy amounted to roughly $2.9 trillion in 2021.

In a rapidly evolving technological landscape, Eyenovia's expansion of its U.S. manufacturing facilities is a clear sign of the company's commitment to being a technology leader in the medical industry.

For more information on Eyenovia and Optejet®, visit eyenovia.com.

About Eyenovia, Inc.

Eyenovia, Inc. (NASDAQ: EYEN) is a commercial stage ophthalmic pharmaceutical technology company developing a pipeline of microdose array print therapeutics. Eyenovia is currently focused on the commercialization of Mydcombi for mydriasis, as well as the ongoing late-stage development of medications in the Optejet device for presbyopia and myopia progression. For more information, visit Eyenovia.com.

The Eyenovia Corporate Information slide deck may be found at ir.eyenovia.com/events-and-presentations.

Forward-Looking Statements

Except for historical information, all the statements, expectations and assumptions contained in this presentation 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 relating to our future activities or other future events or conditions, including estimated market opportunities for our product candidates and platform technology. 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 costs, design, initiation and enrollment, timing, progress and results of such trials; the timing of, and our ability to submit applications for, obtaining and maintaining regulatory approvals for our product candidates; the potential advantages of our product candidates and platform technology; the rate and degree of market acceptance and clinical utility of our product candidates; our estimates regarding the potential market opportunity for our product candidates; reliance on third parties to develop and commercialize our product candidates; the ability of us and our partners to timely develop, implement and maintain manufacturing, commercialization and marketing capabilities and strategies for our product candidates; 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 our competitive position.

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.

Contact Information

Maria Penaloza
maria.penaloza@newswire.com

Norbert Lowe
Vice President, Commercial Operations
nlowe@eyenovia.com

Eric Ribner
Investor, LifeSci Advisors, LLC
eric@lifesciadvisors.com
(646) 751-4363

John Gandolfo
Chief Financial Officer
jgandolfo@eyenovia.com

SOURCE: Eyenovia