French biotech based near Montpellier, specialised in long-acting injectable formulations through its BEPO® platform. FY 2025-26 marks the acceleration of the transition toward a stable royalty model: UZEDY® (Teva, schizophrenia) generated $215M in net sales (+52.5% YoY), and olanzapine LAI (TEV-‘749) is expected to launch in the United States in Q4 2026.

Swiss/Icelandic ophthalmology biotech listed on Nasdaq (OCS). After the DIAMOND pivotal-trial failure (OCS-01 in diabetic macular oedema, 29 May 2026), Oculis is repositioning around neuro-ophthalmology with two assets in registrational trials: licaminlimab (OCS-02) in severe dry eye disease — PREDICT-1 topline expected around year-end 2026 — and privosegtor (OCS-05), a neuroprotective candidate whose programme is expanding from optic neuritis (PIONEER) to acute multiple sclerosis relapses (positive FDA pre-IND feedback in August 2026). In August 2026, Oculis signed the acquisition from Accure Therapeutics of full worldwide ownership of privosegtor (and the preclinical candidate ACT-02), moving from licensee to owner of its lead asset. Cash of $282.3M at 30 June 2026, stated runway into 2H 2029.