Core Viewpoint - The company Zhaoke Ophthalmology-B (06622.HK) has received regulatory approvals for two significant ophthalmic treatments, indicating a positive development in its product pipeline and potential market impact [1] Group 1: Regulatory Approvals - On November 18, 2025, the National Medical Products Administration of China approved the company's clinical trial application for PAN-90806 eye drops aimed at treating wet age-related macular degeneration (wAMD) [1] - On November 19, 2025, the company announced that it received market approval for the antihistamine eye drops, Epiphenidine Hydrochloride, for the treatment of allergic conjunctivitis [1] Group 2: Product Details - PAN-90806 is a novel anti-VEGF eye drop formulation characterized as a small molecule compound with favorable physicochemical properties for external use [1] - If approved as a maintenance therapy, PAN-90806 is expected to provide significant convenience and less invasive treatment options for patients, reducing the frequency of intravitreal injections associated with mainstream anti-VEGF therapies [1] - The use of PAN-90806 is anticipated to greatly decrease treatment interruptions, enhancing patient comfort, acceptance, convenience, and adherence to medical advice, thereby slowing disease progression [1] Group 3: Competitive Landscape - Epiphenidine Hydrochloride is positioned as a first-line therapy for allergic conjunctivitis in China, particularly for acute patients, and is a generic version of Elestat developed by Allergan [1]

Company Overview - Oculis is a Swiss biotechnology company founded in 2017, focusing on the development of dissolving nanoparticle technology for eye treatments [2] - The company was co-founded by Einar Stefánsson and Thorsteinn Loftsson, both of whom have extensive academic and professional backgrounds in ophthalmology and pharmaceutical chemistry [2] - Oculis is headquartered in Switzerland and operates in the United States, China, and Europe [2] Technology and Products - Oculis has developed a proprietary technology called OPTIREACH®, which enhances the delivery of eye drops to the back of the eye, improving treatment for various eye diseases [6] - The lead product, OCS-01, is a preservative-free eye drop formulation combining dexamethasone with OPTIREACH® technology, aimed at treating diabetic macular edema (DME) [6] - OCS-01 is currently in Phase 3 clinical trials, showing effectiveness in improving vision and reducing central macular thickness in patients with DME [6] Market Context - Diabetic macular edema affects approximately 37 million people globally, with projections to rise to 53 million by 2040 due to increasing diabetes prevalence [4] - Current treatments for DME are primarily invasive, often requiring frequent injections, which can be burdensome for patients [4] - Oculis's non-invasive approach with OCS-01 offers a more comfortable and convenient treatment option for millions of patients suffering from retinal diseases [6] Additional Pipeline Products - Besides OCS-01, Oculis is developing OCS-02, a topical anti-TNF-α monoclonal antibody fragment for dry eye treatment, currently in Phase 2b clinical studies [7] - OCS-05 is another product aimed at protecting nerve axons in acute optic neuritis and other neuro-ophthalmic diseases, currently undergoing clinical research in Europe [7] Financial and Market Position - Oculis went public on NASDAQ following a SPAC merger with European Biotech Acquisition Corp on March 3, 2023 [7] - The company raised $59 million in an oversubscribed private placement in April 2024 and secured an additional $100 million in February 2025 to accelerate product development [7] - Oculis was recognized in the 2022 TOP100 Swiss Startups list, highlighting its innovative potential and market prospects in the biotechnology sector [9]