Ophthalmology innovative drug and medical device company SpyGlass Pharma (SGP.US) has submitted an application for listing on the US stock market, aiming to raise $100 million.

SpyGlass Pharma (SGP.US) is a biotechnology company in the third phase of clinical trials focusing on developing implantable medical devices for treating chronic eye diseases. Last Friday, the company officially filed for an Initial Public Offering (IPO) with the Securities and Exchange Commission (SEC) in the United States, aiming to raise up to $100 million. SpyGlass Pharma is a late-stage biopharmaceutical company specializing in chronic eye diseases, dedicated to developing long-acting drug delivery solutions for long-term disease control and vision protection. Their flagship product candidate is the Bimatoprost Drug-Eluting Intraocular Lens System (BIM-IOL System), which connects a novel patented drug-eluting insert with an intraocular lens (IOL) and is intended to be implanted through routine cataract surgery to lower intraocular pressure (IOP) in patients with open-angle glaucoma (OAG) or ocular hypertension (OHT). The BIM-IOL System is designed to continuously release bimatoprost for up to three years, a prostaglandin analog (PGA) approved by the U.S. Food and Drug Administration (FDA) in 2001 for local treatment to reduce high IOP in patients with OAG or OHT. Additionally, the company is also developing a non-IOL-based annular sustained-release implant containing bimatoprost, which they believe can be independently implanted for patients previously treated with the BIM-IOL System and provide long-term care for OAG or OHT patients who have undergone cataract surgery. Headquartered in Aliso Viejo, California, the company was founded in 2019 and plans to list on the Nasdaq under the ticker symbol SGP. SpyGlass Pharma submitted their IPO application confidentially on September 26, 2025. Jefferies Financial Group Inc., Leerink Partners, Citigroup, and Stifel are the joint lead underwriters for this transaction. The specific pricing terms of the transaction have not been disclosed.