Oculis Holding AG is purchasing the worldwide development and commercial rights to privosegtor, an investigational neuroprotective candidate, as part of an asset purchase agreement with Accure Therapeutics.
First, can we get a refresh on this asset?
We’ll start with the basics:
What it is: A novel peptoid small molecule asset that acts as a serum-glucose corticoid kinase-2 (SGK-2) activator to penetrate the blood-brain and retinal barrier.
- Its investigational indication: Optic neuritis (ON)
Its mechanism of action: Involves preserving the retina and improving visual function following an acute episode of ON. Read up on it here.
In the U.S.: It’s already received the FDA’s
- Breakthrough Therapy Designation ( January 2026)
- Orphan Drug Designation (October 2025)
And its big-picture potential: For privosegtor to become the first neuroprotective therapeutic for acute ON (AON) and non-arteritic anterior ischemic optic neuropathy (NAION).
Got it. Now hold up—doesn’t Oculis already own the rights to privosegtor?
Not quite … Oculis and Accure previously signed a licensing agreement in 2022 that granted Oculis the exclusive global rights to develop and commercialize privosegtor (then-named ACT-01 before being renamed OCS-05 under Oculis).
Under that agreement: Accrue still retained ownership of privosegtor and was to receive an upfront payment and potential milestone payments (after certain development and commercial milestones) as well as tiered royalties on privosegtor sales.
- Oculis, meanwhile, paid for the rights to use the privosegtor licensing
So what does this new deal mean?
Basically, it converts that previous contract from licensing to outright ownership (of privosegtor) for Oculis.
Also important to note: The agreement includes AC-02, an early-stage preclinical neurology candidate, which will be part of a separate closing, dependent on the initial for privosegtor.
Gotcha. Now let’s get some details.
In the total consideration for both transactions, Accrue will receive:
- At the first closing, an upfront payment of $3.8 million (in cash)
- Up to 2,050,000 Oculis ordinary shares, split between:
- Upfront shares subject to lockup release over a period of up to 2 years following deal completion
- Earnout shares subject to vesting upon achievement of development and regulatory milestones related to the asset
To note: No price tags were attached to the value of these shares.
Noted. And for Oculis?
For each of the assets it’s acquiring—privosegtor and ACT-0—the company expects to assume “existing license agreements with academic institutions” that include the following obligations:
- Paying low single-digit percentage royalties
- Preserving the academic institutions’ rights to use the assets for academic and non-commercial purposes (as required by Spanish law)
Also worth noting: Both companies' board of directors (plus Accure’s shareholders) have already approved the agreement.
Wait, why Spanish law? And why are academic institutions involved?
Considering Accure—a private translational neuroscience research & development company—is based in Barcelona, Spain, its Spanish roots make sense.
- Privosegtor’s origins can be traced back to multiple Spanish public research institutions (IDIBAPS-Hospital Clinic, Barcelona, and the Spanish National Council CSIC).
- ACT-02 was originally sourced from the Institute for Research in Biomedicine (IRB), Barcelona, and the Universitat de Barcelona (UB).
So … when is the deal expected to close?
That’s a two-part question—with two targeted timeframes:
- The first closing (for privosegtor): Feb. 18, 2027*
- The second closing (for ACT-01): March 31, 2027*
*no later than
Got it! And in the meantime, what’s the latest on privosegtor?
As we last reported (in May): The FDA agreed to a special protocol assessment (SPA) for the first of two pivotal clinical trials in Oculis’ phase 3 Privosegtor Investigation in Optic Neuropathies Efficacy Evaluation Research (PIONEER) program for ON: PIONEER-1.
- To note: PIONEER-1 is evaluating the asset in patients following an acute onset of ON, both with and without multiple sclerosis (MS).
- The latest update on this: “Clinical site activation is advancing as planned,” Oculis shared.
And as I’m sure you’re curious, see here for privosegtor’s phase 2 clinical performance for its proposed AON indication.
Any other timeframes to keep in mind?
The company is also planning to submit an investigational new drug (IND) application to the FDA in Q4 2026 for privosegtor’s acute MS relapses indication.