Edison Initiates Coverage on Pixium Vision

LONDON, September 21, 2015 /PRNewswire/ --

Edison Investment Research, a leading international investment research firm, announces the initiation of full coverage of Pixium Vision. 

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Highlights of the analysis on Pixium Vision by Edison's healthcare analysts George Magrath, Maxim Jacobs and Christian Glennie include:

Pixium Vision is a French medical device company developing retinal implants for patients with retinitis pigmentosa and macular degeneration. Its lead product is an epi-retinal implant scheduled for CE Mark application in 2015. A sub-retinal implant is being developed simultaneously.

We use a risk-adjusted NPV model with a 12.5% discount factor to achieve a value of €133.42m or €10.51/share. We assume Iris and Prima pricing is consistent with the current reimbursement of Second Sight's Argus II retinal implant. Pixium is capitalised with €31m in cash, with a burn rate of approximately €20m per year.

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All reports published by Edison are available to download free of charge from its website http://www.edisongroup.com.

About Edison: Edison, the investment intelligence firm, is the future of investor interaction with corporates. Our team of over 100 analysts and investment professionals works with leading companies, fund managers and investment banks worldwide to support their capital markets activities. We provide services to more than 400 retained corporate and investor clients from our offices in London, New York, Frankfurt, Sydney and Wellington. Edison is authorised and regulated by the Financial Conduct Authority (http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584).

Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.

Contact details: Learn more at http://www.edisongroup.com and connect with Edison on:  

LinkedIn http://www.linkedin.com/company/edison-investment-research

Twitter  http://www.twitter.com/Edison_Inv_Res

YouTube  http://www.youtube.com/edisonitv

For more information please contact:

George Magrath, Edison Investment Research, +44(0)20-3077-5749

Maxim Jacobs, Edison Investment Research, +44(0)20-3077-5741

Christian Glennie, Edison Investment Research, +44(0)20-3077-5727

[email protected]

SOURCE Edison Investment Research

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