Eyenovia Secures $50 Million for Cryptocurrency Treasury Reserve

Eyenovia, Inc. has successfully secured $50 million in private placement (PIPE) financing from institutional investors. This significant transaction is part of the company's new cryptocurrency treasury reserve strategy, aimed at leveraging the growing adoption of digital currencies and related innovations. The financing will enable Eyenovia to acquire 1,040,584.5 HYPE tokens, the native token of the Hyperliquid protocol, at an average price of approximately $34 per token. HYPE is the native token of the Hyperliquid protocol, a layer one blockchain optimized for high-frequency, transparent trading.

As part of this strategy, Eyenovia plans to initiate its own network validator alongside an ecosystem partner. This move will support the liveness of the Hyperliquid blockchain and lay the foundation for accessing HYPE staking yield. Michael Rowe, Chief Executive Officer of Eyenovia, emphasized the transformational nature of this financing, stating that it will create long-term value for shareholders by leveraging the growing adoption of digital currencies. He also reiterated the company's focus on completing the remaining development steps for the FDA registration of the Optejet User Filled Device (UFD), which is on track for September 2025.

Hyunsu Jung, Chief Investment Officer of Eyenovia, highlighted the company's successful purchase of its initial HYPE position, which paves the way for deeper engagement in the Hyperliquid ecosystem. The company aims to provide a secure, custodied environment for retail and institutional investors to access HYPE and its native yield. Chardan acted as the sole placement agent in connection with the transaction.

Pending Board approval, Eyenovia is expected to change its name and ticker to “Hyperion DeFi” and “HYPD,” respectively. This rebranding reflects the company's strategic shift towards integrating cryptocurrency into its business model. The development of the Optejet UFD continues to progress according to projected timelines, with verification and validation activities expected to commence next month. Eyenovia remains on track to register the device with the FDA in September 2025.

The company has also initiated dialogue with several potential partners for the licensure of the Optejet platform, initially focused on applications in OTC lens rewetting and artificial tears. The Optejet UFD is designed to work with a variety of topical ophthalmic liquids, offering enhanced safety, tolerability, and potential for superior compliance versus standard eye drops. These benefits may result in higher treatment compliance and better outcomes for patients and providers.

Eyenovia's strategic treasury of HYPE tokens positions the company as a pioneer in the digital ophthalmic technology sector, providing shareholders with simplified access to the Hyperliquid ecosystem. The Hyperliquid platform includes fully onchain perpetual futures and spot order books, with every order, cancel, trade, and liquidation occurring within 70 millisecond block times. The platform also hosts the HyperEVM, a general-purpose smart contract platform that supports permissionless decentralized financial applications.

HYPE, the native token of Hyperliquid, provides utility for users via reduced trading fees and increased referral bonuses. Circulating HYPE is autonomously purchased and sequestered by the blockchain itself with the trading fees generated on the network’s order books. As of June 2025, more than 25 million HYPE has been sequestered by this mechanism, and the token has become one of the largest cryptocurrencies by market capitalization.

Eyenovia's forward-looking statements include expectations about the estimated market opportunities for its platform technology, the viability of its new cryptocurrency treasury strategy, and the timing for sales growth of its approved products. These statements are based on current expectations and assumptions made by management and are not guarantees of future performance. They involve risks and uncertainties that could affect actual outcomes and results, including the potential advantages of the company's products, market acceptance, clinical utility, and the ability to obtain regulatory approval.