EYES - Second Sight Medical terminates business combination with Pixium Vision

On Friday, Second Sight Medical Products (EYES) has notified its decision to terminate the memorandum of understanding (“MOU”) it has signed with Pixium Vision seeking a business combination.Calling the action by Second Sight Medical ‘unilateral and wrongful,’ Pixium Vision said it would take all necessary means including legal measures to claim compensation for the damages.French company noted a violation of MoU terms due to a recently-announced private placement by Second Sight Medical.Early March, the U.S.-based manufacturer of implantable visual prosthetics surged in reaction to FDA approval for Argus 2s retinal prosthesis system. Its production was subject to the completion of the business combination with Pixium Vision.

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Second Sight Medical terminates business combination with Pixium Vision