Ocumetics Announces Successful Completion of Animal Study Q1 2024 First in Human Study Planned

(TheNewswire)

Calgary, Alberta TheNewswire - December 7, 2023 - Ocumetics Technology Corp. (" Ocumetics ") ( TSXV:OTC) (OTC:OTCFF) (FRA:2QBO), a pioneer in the field of ophthalmic innovation, proudly confirms the successful completion of its biocompatibility animal study, in preparation for its first-in-human study, anticipated to commence in Q1 2024 in the Dominican Republic.

The biocompatibility of the Ocumetics accommodating intraocular lens (the " Ocumetics Accommodating Lens" ) was evaluated by surgical implantation of two lenses into the eyes of rabbits. The first lens, the Ocumetics Accommodating Lens, was compared to the second lens, a commercially available monofocal intraocular lens (" IOL ") as a control. Results from this three-month animal study demonstrated that there were no biocompatibility or safety issues related to the Ocumetics Accommodating Lens when compared to the control IOL.

The study also evaluated the occurrence of anterior and posterior capsular opacification in the rabbit model over the three month period. There were no significant differences between the two IOL groups in terms of posterior capsular opacification and anterior capsular opacification at the end of the study.

Dr. Garth Webb, Founder and Chief Scientific Officer of Ocumetics, expressed enthusiasm about the outcomes, emphasizing, "Our primary focus in this study was to assess the surgical implantation performance of our revolutionary accommodating intraocular lens design. I am thrilled to report that the results not only met, but surpassed our expectations. This marks the realization of years of dedicated technological advancement."

Dr. Doyle Stulting, Chief Medical Officer of Ocumetics, shed light on the Ocumetics Accommodating Lens innovation, stating, "Our latest lens design caters to the needs of ophthalmologists by offering precise control during implantation, ensuring a gradual unfolding within the capsular bag. This new lens design was enthusiastically received by our Medical Advisory Board and should assure broad acceptance by ophthalmic surgeons immediately after US FDA marketing approval."

Dean Burns, President & CEO of Ocumetics, shared the roadmap ahead, "This successful study is a major milestone for Ocumetics, and a critical step for us to continue our journey towards US FDA approval. We anticipate initiating our first-in-human proof of concept studies in Q1 2024. These latest results are a testament to our team's skill and dedication, and we eagerly anticipate the launch of human trials."

About Ocumetics

Ocumetics Technology Corp. ( TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO), headquartered in Calgary, Alberta, Canada, is an innovator in the field of ophthalmic technology, dedicated to developing and commercializing advanced vision correction solutions that enhance the quality of life for individuals worldwide.

Ocumetics is in the preclinical study stage of a game-changing technology for the ophthalmic industry. In its pursuit of a next generation interocular lens solution, Ocumetics has developed the Ocumetics Accommodating Lens, an expandable intraocular lens that fits within the natural lens compartment of the eye potentially to eliminate the need for corrective lenses. It is designed to allow the eye's natural muscle activity to seamlessly shift focus from distance to intermediate to near.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dean Burns Dayton Marks

President and CEO Director

(817) 874-7564 (778) 347-2500

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

News Provided by TheNewsWire via QuoteMedia

Ocumetics Technology OTC:CA TSXV:OTC Emerging Tech Investing

OTC:CA

Ocumetics Announces Extension of Private Placement

(TheNewswire)

Calgary, Alberta TheNewswire - December 21, 2023 - Ocumetics Technology Corp. (" Ocumetics " or the " Corporation ") (TSXV:OTC) (OTC:OTCFF) (FRA:2QBO) is pleased to announce that the TSX Venture Exchange has granted a 15-day extension to close the Corporation's non-brokered private placement announced on November 15, 2023. The new closing deadline for the private placement is January 15, 2024.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Ocumetics Announces December 20, 2023 Webinar regarding Successful Completion of Animal Study

(TheNewswire)

Ocumetics Technology Corp. (" Ocumetics ") ( TSXV:OTC) (OTC:OTCFF) (FRA:2QBO) a pioneer in the field of ophthalmic innovation, announces a webinar to discuss the successful completion of its biocompatibility animal study and its upcoming first-in-human study, anticipated to commence in Q1 2024 in the Dominican Republic

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Ocumetics Continues to Meet Significant Development Milestones; Lens Design Optimized for Upcoming First in Human Study

(TheNewswire)

Calgary, Alberta September 18, 2023. Ocumetics Technology Corp. (" Ocumetics ") ( TSXV:OTC) (OTC:OTCFF) (FRA:2QBO), a pioneer in in the field of ophthalmic innovation, proudly confirms a remarkable achievement in the optimization of its vision correction technology - the Ocumetics Accommodating Lens. Through rigorous research and development efforts over the past two years, Ocumetics has modified its lens design five times, ultimately arriving at its groundbreaking final lens configuration version 10.5. Lens version 10.5 has been tested in vitro and in an animal model, and will be used in Ocumetics' upcoming human clinical trials.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Ocumetics Welcomes Dr. Doyle Stulting and Dr. Bart McRoberts to Board of Directors

(TheNewswire)

Calgary, Alberta TheNewswire - September 1, 2023 - Ocumetics Technology Corp. (" Ocumetics " or the " Corporation ") ( TSXV:OTC) (OTC:OTCFF) (FRA:2QBO) a pioneer in advanced eye care solutions, is pleased to announce the appointment of Dr. Doyle Stulting and Dr. Bart McRoberts to its Board of Directors. With their unparalleled expertise in ophthalmology and vision research, Drs. Stulting and McRoberts bring a wealth of knowledge that will help drive Ocumetics' innovation and commitment to improving eye care globally.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Nanalysis Announces Fourth Quarter and Full Year 2023 Results

Nanalysis Scientific Corp. ("the Company") (TSXV: NSCI) (OTCQX: NSCIF) (FRA: 1N1), a leader in portable NMR machines and MRI technology for industrial and research applications announces fourth quarter and full year results for the period ending on December 31 2023. Chief Executive Officer, Sean Krakiwsky and Chief Financial Officer, Randall McRae will host a conference call at 5 P.M. Eastern Time today to discuss the results. A second call will be held for European investors at 8:30am ET tomorrow, Tuesday, April 30th . All interested parties are invited to join these calls.

"As noted in our previous release dated February 6, 2024 , we are very pleased with how our businesses ramped up in second half of 2023 and we closed out the year with good momentum which has carried into the current year," said Sean Krakiwsky, Founder and CEO of Nanalysis. "Our benchtop sales have regained stride and the personnel changes that we made earlier in the year are producing good results that we expect to continue going forward. Our security services segment completed taking over all basic services on the Company's Airport Security Project early in 2024, and this project will continue its expansion and roll-out, building towards full revenue run rate through the year. Additionally, in 2023 we had significant up-front training costs which contracted our margins. In 2024, we expect that to be significantly reduced and look for security services margins to improve throughout the year."

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

Sona's Cancer Therapy Creates a Systemic Immune Response in Murine Breast Cancer Model

Sona Nanotech Inc. (CSE: SONA) (OTCQB: SNANF) (the "Company" or "Sona") announces further results from the triple negative breast cancer murine model portion of its current research study at Dalhousie University (the "Study") which confirms that the previously reported tumor volume reduction was due to activation of a tumor specific systemic immune response. These data relate to the follow-up biomarker analysis performed on the previously reported cohort of animals that showed a statistically significant synergistic effect in the shrinking of both treated and untreated tumors in animals bearing multiple tumors after treatment with the combination of Sona's targeted hyperthermia therapy ("THT") and interleukin-2 ("IL-2"), an immunotherapy agent widely used to treat human cancer patients.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Nextech3D.ai is Participating In The Supplier Network of GlassDollar, Which Extends Nextech3D.ai Reach to Large Corporations, Such As Siemens, LG, BSH, Infineon

Nextech3D.ai (OTCQX:NEXCF)(CSE:NTAR)(FSE:EP2), a leading provider of patented 2D-3D Generative AI-powered 3D modeling technologies to major e-commerce brands like Amazon, Miele, P&G, Kohls, and Wesfarmers Group's "Bunnings", has announced a collaboration with GlassDollar. This collaboration highlights the demand for Nextech3D.ai's innovative solutions from large corporations-including CAD to 3D texturing, 3D photo rendering, data analytics, generative AI, spatial computing, and 3D cloud hosting. Through this collaboration Nextech3D.ai is participating in the supplier network of GlassDollar, which extends Nextech3D.ai reach to large Corporations, such as Siemens, LG, BSH, Infineon and more

Nextech3D.ai, along with its subsidiaries Toggle3D.ai and ARway.ai, is excited to be invited to bring its advanced technologies to this collaboration. This collaboration serves to both enhance GlassDollars product offerings to meet the specific needs of GlassDollar's clients while establishing potential new relationships and revenue streams for Nextech3D.ai.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

/C O R R E C T I O N -- Nanalysis Scientific Corp./

In the news release, Nanalysis Announces Full Year 2023 Conference Call, issued 11-Apr-2024 by Nanalysis Scientific Corp. over CNW, we are advised by the company that the Hosting Call and European Q&A Session date mentioned should read " Monday, April 29th and Tuesday, April 30th respectively" rather than " Thursday April 25th and Friday April 26th respectively" as originally issued inadvertently. The complete, corrected release follows:

Nanalysis Announces Full Year 2023 Conference Call

Hosting Call at 5:00 pm ET on Monday , April 29th

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

	31-Dec-23			31-Dec-22
ASSETS
Current
Cash & cash equivalents		907,847			3,777,117
Receivables		357,398			744,331
Contract asset		51,320			589,015
Finance lease receivable on sublease CP		199,933			-
Prepaid expenses		294,471			310,906
Inventory		-			45,289
Non current assets held for sale		-			501,188
Total current assets		1,810,969			5,967,846

Equipment		325,633			278,463
Deferred consideration		206,850			-
Right of use asset		-			829,278
Finance lease receivable on sublease		642,983			-
Intangible assets		-			3,313,741
Goodwill		-			6,746,378
Total assets		2,986,435			17,135,706

LIABILITIES
Current
Accounts payable and accrued liabilities		3,531,460			2,641,918
Deferred revenue		342,192			437,746
Lease liability		143,722			222,250
Liabilities associated with assets held for sale		-			92,532
Total current liabilities		4,017,374			3,394,446

Lease liability - non current		469,624			582,586
Deferred tax liabilities		-			29,974
Total liabilities		4,486,998			4,007,006

Shareholders' Equity
Share capital		91,909,495			83,271,707
Reserves		14,166,972			12,754,706
Accumulated Other Comprehensive Income		678,143			827,101
Shareholder's equity attributable to Nextech shareholders		(112,211,223	)		(85,898,862	)
Total common shareholders' equity		(5,456,613	)		10,954,652
Non controlling interest		3,956,050			2,174,048
Total equity		(1,500,563	)		13,128,700
Total liabilities and shareholders' equity		2,986,435			17,135,706

	YTD
	31-Dec-23			31-Dec-22
		$			$
Revenue		5,033,202			3,224,791
Cost of sales		(3,586,162	)		(1,593,076	)
Gross profit		1,447,040			1,631,715

Operating expenses:
Sales and marketing		4,546,502			5,013,367
General and administrative		9,362,610			13,377,575
Research and development		3,249,799			3,892,208
Stock based compensation		1,775,695			1,715,690
Amortization		2,105,689			2,655,652
Right of use amortization		55,728			76,905
Depreciation		87,824			122,930
Operating profit (loss)		(19,736,807	)		(25,222,612	)

Other income (expense):
Gain on sublease recognition		120,626			-
Loss on asset disposal		(85,679	)		-
Gain on liability		-			381,019
Impairment of intangible assets and goodwill		(7,575,263	)		(476,113	)
Foreign exchange gain (loss)		(14,393	)		1,345,593
Profit (Loss) before income taxes		(27,291,516	)		(23,972,113	)

Current income tax expense		-			(34,937	)
Deferred income tax recovery		29,974			672,148
Net income (loss) from continuing operations		(27,261,542	)		(23,334,902	)

Income (loss) from discontinued operations		(452,814	)		(4,043,424	)
Net loss		(27,714,356	)		(27,378,326	)

Other comprehensive income (loss)
Exchange differences on translating foreign operations, continuing operations		(148,958	)		(432,845	)
Comprehensive income (loss)		(27,863,314	)		(27,811,171	)

Net loss from C/O attributed to:
Parent		(25,109,547	)		(22,896,701	)
Non controlling interest - PL		(2,151,995	)		(438,201	)

Net loss from D/O attributed to:
Parent		(452,814	)		(4,043,424	)
Non controlling interest - PL		-			-

Comprehensive loss attributed to:
Parent		(25,711,319	)		(27,372,970	)
Non controlling interest		(2,151,995	)		(438,201	)


Loss per share from C/O - basic and diluted		(0.22	)		(0.24	)


Loss per share from D/O - basic and diluted		(0.00	)		(0.04	)

Weighted average number of common shares outstanding
Basic and diluted		114,085,494			100,201,691

	YTD
	31-Dec-23			31-Dec-22
Operating activities:
Net loss		(27,714,356	)		(27,378,326	)
Adjustment for:
Interest income from sublease		(39,903	)		-
Interest expense from lease		30,217			28,668
Stock based compensation		1,775,695			1,715,690
Amortization of intangible assets		2,105,689			2,655,652
Amortization of ROU		55,728			261,101
Depreciation of property and equipment		87,824			143,567
Gain on sublease recognition		(120,626	)		-
Loss on asset disposal		85,679			-
Gain on short-term investment		-			(381,019	)
Impairment of intangible assets & goodwill		7,759,360			3,178,426
Expenses paid by shares		648,891			1,917,837
Loss on PET disposal		173,534			-
Income tax expense (recovery)		-			-
Changes in non-cash working capital balances
Receivables		386,933			269,873
Contract asset		537,695			(202,813	)
Prepaid expenses		16,435			408,743
Inventory		45,289			2,954,342
Accounts payable and accrued liabilities		917,814			(24,574	)
Deferred revenue		(95,554	)		(171,255	)
Deferred tax liability		-			(673,290	)
Total operating cash flow		(13,343,656	)		(15,297,378	)

Cashflows from investing activities
Purchase of equipment		(227,250	)		(101,784	)
Payments received from sublease		66,554			-
Net cash provided by (used in) investing activities, continuing operations		(160,696	)		(101,784	)

Cashflows from financing activities
NTAR - Net proceeds from private placements		5,726,654			8,890,349
NTAR - Proceeds from Employee Pay Program		2,269,704			2,496,628
Proceeds from securities issuances to NCI		2,813,107			1,657,354
Repayment of loan		-			(90,896	)
Payments of lease liability		(203,762	)		(388,804	)
Net cash provided by (used in) financing activities, continuing operations		10,605,703			12,564,631

Effects of foreign exchange on cash		29,379			(616,272	)
Change in cash during the period		(2,898,649	)		(2,834,531	)
Cash, beginning of period		3,777,117			7,237,296
Cash, end of period, continuing operations		907,847			3,786,493

Cash, end of period, continuing operations		907,847			3,777,117
Cash, end of period, discontinuing operations		-			9,376

Taxes paid		-			27,005
Interest paid		30,217			30,910
Cash interest received		121,122			108,390

	Three months ended December 31
($000's)	2023	2022	($) Change
Product sales	5,450	5,893	(443)
Service revenue	4,350	1,310	3,040
Total sales and revenue	9,800	7,203	2,597

Gross margin - product sales	48 %	32 %	16 %
Gross margin - service revenue	-21 %	-50 %	29 %

EBITDA	(774)	(2,532)	1,758

Net loss	(2,123)	(3,292)	1,169

	Twelve months ended December 31
($000's)	2023	2022	($) Change
Product sales	16,342	21,588	(5,246)
Service revenue	12,124	3,233	8,891
Total sales and revenue	28,466	24,821	3,645

Gross margin percentage - product sales	41 %	49 %	-8 %
Gross margin percentage - service revenue	-23 %	-1 %	-22 %

EBITDA	(8,074)	(3,935)	(4,139)

Net loss	(16,784)	(9,915)	(6,869)

	Three months ended December 31			Twelve months ended December 31
($000's)	2023	2022	($) Change	2023	2022	($) Change
Net loss	(2,123)	(3,292)	1,169	(16,784)	(9,915)	(6,869)
Business acquisition costs and contingent consideration (gain) loss	(1,106)	(106)	(1,000)	(967)	104	(1,071)
Depreciation and amortization expense	1,052	1,233	(181)	4,413	4,564	(151)
Finance expense (income)	43	(124)	167	284	76	208
Stock-based compensation	187	454	(267)	1,048	1,556	(508)
Foreign exchange (gain) loss	(84)	5	(89)	165	164	1
Loss on loss of control of subsidiary	-	-	-	2,810	-	2,810
Loss from associate	271	-	271	527	-	527
Restructuring costs	4	-	4	441	-	441
Current income tax (recovery) expense	(3)	53	(56)	13	250	(237)
Deferred income tax expense (recovery)	985	(755)	1,740	(24)	(734)	710
EBITDA	(774)	(2,532)	1,758	(8,074)	(3,935)	(4,139)

Ocumetics Announces Successful Completion of Animal Study Q1 2024 First in Human Study Planned

Ocumetics Technology Investor Kit

GET YOUR FREE INVESTOR KIT

Overview

Company Highlights

Key Product

Ocumetics Accommodating Lens

Project Highlights:

Management Team

Dean Burns – President and CEO

Dr. Garth Webb - Founder/Chief Scientific Officer

Dr. Doyle Stulting - Chief Medical Officer

Roger Jewett - Chief Financial Officer

Nanalysis Announces Full Year 2023 Conference Call

Latest News

Ocumetics Technology Investor Kit

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

TOP STOCKS