Science Corporation acquires Pixium

Science Corporation acquired Pixium (FR) to gain access to Pixium's PRIMA technology for vision restoration. The acquisition closed on January 1, 2024, and was announced on July 22, 2024.

The acquisition enables Science Corporation to commercialize Pixium's PRIMA technology, which received EU approval in July 2023 for treating age-related macular degeneration. The device is also under review by the US Food and Drug Administration (FDA) for potential use with two rare forms of blindness.

Science Corporation plans to integrate PRIMA into its product lineup and secure reimbursement from healthcare providers. Each PRIMA device costs hundreds of thousands of dollars, positioning it as a high-end solution within the medical technology sector. The company aims to begin offering PRIMA in Germany after completing clinical trials there.

Strategic Rationale

The acquisition of Pixium aligns with Science Corporation's broader strategy to develop and commercialize brain-computer interface (BCI) technologies. By integrating Pixium’s PRIMA technology, the company aims to establish a sustainable revenue stream while advancing its longer-term BCI research.

Max Hodak, founder and CEO of Science Corporation, stated that the vision restoration business is crucial for financing further development of hybrid bio-silicon BCIs. The company's goal is to build a strong foundation in vision-restoring technology before expanding into more complex medical applications.

Financial Context

The PRIMA device has substantial potential within the healthcare market, particularly among patients suffering from age-related macular degeneration and other forms of blindness. With each unit priced in the hundreds of thousands of dollars, PRIMA represents a high-value product line for Science Corporation.

Securing regulatory approval in Europe was a significant milestone for the technology's commercial viability. The company is now working on discussions with healthcare providers to establish reimbursement pathways and lay groundwork for potential launches in other European markets.

Advisors

The acquisition did not disclose financial or legal advisors on either side of the deal.

Outlook

Science Corporation is expected to continue refining PRIMA's technology, aiming to reduce its form factor and enhance vision capabilities. The company plans to expand clinical trials and prepare for broader market entry, with initial procedures anticipated in September 2024.