Eyenovia
Hyperion DeFi, Inc. (formerly Eyenovia, Inc.) is a public company operating a corporate treasury strategy that provides public-market exposure to Hyperliquid's native HYPE token, following its September 2024 acquisition by Armistice Capital and pivot away from ophthalmic drug delivery.
- Company typePublic
- Founded2014
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Eyenovia does
Eyenovia, Inc. was originally founded in 2014 as a biopharmaceutical company developing a portfolio of next-generation topical eye treatments built around its proprietary Optejet platform — a microdroplet ophthalmic drug delivery device designed for precise, controlled topical dosing versus traditional eye drops. Approved and pipeline products included Mydcombi (a topical mydriatic/miotic agent for ophthalmic surgical procedures) and MicroLine (a presbyopia treatment in development). The company pursued a direct field-sales commercialization model targeting ophthalmologists and optometrists in U.S. clinical and commercial channels.
In September 2024, Eyenovia was acquired by Armistice Capital LLC and effectively pivoted from ophthalmic drug delivery to a decentralized finance (DeFi) strategy. The public entity now operates as Hyperion DeFi, Inc. (OTC: HYPD), with its core proposition being exposure to Hyperliquid's native HYPE token via a corporate treasury structure — bridging public markets and onchain strategies. The company has no disclosed operating revenue under the new model; its economics depend on token price appreciation rather than product sales. Headcount is 11-50, the company is led by CEO Hyunsu Jung (formerly DARMA Capital, EY-Parthenon) since January 2026, and has raised approximately $76 million in post-pivot equity rounds between June 2024 and May 2026, with Armistice Capital as controlling shareholder and largest historical investor.
Eyenovia firmographics
Firmographics- Name
- Eyenovia
- Legal name
- Eyenovia, Inc.
- Website
- https://hyperiondefi.com
- Company type
- Public
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Hyperion DeFi, Inc. (formerly Eyenovia, Inc.) is a public company operating a corporate treasury strategy that provides public-market exposure to Hyperliquid's native HYPE token, following its September 2024 acquisition by Armistice Capital and pivot away from ophthalmic drug delivery.
- Ownership category
- akta.pro rank
Eyenovia industry classification
Industry- Product category
- Ophthalmic Pharmaceuticals
- NAICS
- Ophthalmic Goods Manufacturing (339115), Surgical and Medical Instrument Manufacturing (339112)
- SIC
- Ophthalmic Goods (3851), Surgical & Medical Instruments & Apparatus (3841)
- akta.pro primary industry
- Ocular Drug Delivery Devices (Eye Droppers/Inserts) (HLAHAIAL)
- akta.pro secondary industry
- Ophthalmology Pharmaceuticals (HLAIAAAL)
Keywords
Where Eyenovia is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Markets served
Eyenovia business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Supply Chain, Personnel, Operations
Revenue model
- Product Sales: Commercialization of ophthalmic products including Mydcombi and the Optejet platform devices for clinical and commercial use
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Eyenovia product offering
Product offeringCore offering
Eyenovia developed and commercialized a portfolio of next-generation topical ophthalmic treatments built on its proprietary Optejet microdroplet drug-delivery platform. Its commercial offering, Mydcombi, is an FDA-approved topical ophthalmic solution for inducing mydriasis or miosis during ophthalmic surgical procedures, while MicroLine (in development) targets presbyopia. The company sold these products and devices to ophthalmology and optometry practices in the United States.
Product overview
Eyenovia is an ophthalmic pharmaceutical and drug delivery technology company that developed and commercialized ophthalmic products and devices. The company operated a portfolio including the Optejet micro-dose ophthalmic delivery platform, Mydcombi (a topical mydriatic/miotic agent), and MicroLine (a presbyopia treatment). The company's technology focused on precise, topically-administered ophthalmic drug delivery for various eye conditions and surgical applications.
Differentiator
Problem solved
Functional benefit
Products and services
- Optejet
Companies that use Eyenovia
Customer profileSegments1 record
Ideal customer profiles1 record
Eyenovia technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Eyenovia partnerships and signals
Strategic signalScale indicators5 records
Recent moves6 records
Expansion highlights5 records
Eyenovia competitors and assessment
Company assessmentBroad incumbents
- Alcon: Alcon is the largest dedicated ophthalmic company globally, offering surgical, pharmaceutical, and vision care products. Comparable as a broad incumbent whose pharmaceutical franchise competes directly with Eyenovia's Mydcombi in cataract/mydriasis applications and whose surgical-channel relationships overlap with Eyenovia's commercialization targets.
- Bausch + Lomb: Bausch + Lomb is a global ophthalmic incumbent with branded pharmaceuticals (including Bausch & Lomb where Eyenovia board director Dr. Strahlman previously served as CMO), surgical devices, and consumer vision care. Comparable as a broad incumbent operating across the same ophthalmic prescribing channels where Eyenovia's Mydcombi and MicroLine compete.
Direct peers
- Clearside Biomedical: Clearside Biomedical developed the suprachoroidal SpacePort delivery platform (XIPERE for macular edema) and partners on gene therapy delivery to the back of the eye. Comparable as a small-cap ophthalmic drug delivery innovator targeting retina specialists with platform technology.
- Ocular Therapeutix: Ocular Therapeutix develops hydrogel-based sustained-release drug delivery (DEXTENZA for post-surgical inflammation). Closely comparable to Eyenovia as a small-cap ophthalmic platform company with approved products built around proprietary drug-delivery technology addressing eye care specialists.
- Aldeyra Therapeutics: Aldeyra Therapeutics is a clinical-stage ophthalmic pharmaceutical company developing treatments for dry eye disease and other ocular inflammatory conditions. Comparable as a small-cap, late-clinical-stage ophthalmic pharma company with similar funding dynamics and specialty-pharma channel.
- Nicox SA: Nicox is a European ophthalmic company focused on glaucoma therapeutics (VYZULTA, NCX 470). Comparable to Eyenovia as a small ophthalmic specialty pharma developing novel topical therapeutics for ophthalmologists and optometrists.
- EyePoint Pharmaceuticals: EyePoint Pharmaceuticals develops sustained-release ocular drug delivery technologies (DURYSTA, YUTIQ) for conditions including glaucoma and retinal disease. Directly comparable to Eyenovia's Optejet platform as both companies commercialize novel ophthalmic drug delivery systems targeting the same specialty physician channel.
Emerging players
- Outlook Therapeutics: Outlook Therapeutics develops ONS-5010/LYTENAVA (bevacizumab), an ophthalmic formulation for wet AMD targeting retinal specialists. Comparable as a small-cap ophthalmic pharma pursuing a single late-stage approval with similar capital-raise dynamics to Eyenovia's pre-pivot profile.
- Kala Bio: Kala Bio is a clinical-stage ophthalmic company developing novel therapies for rare eye diseases using a proprietary mucus-penetrating particle technology. Comparable as a small-cap, technology-platform-driven ophthalmic pharma targeting specialist prescribers.
Others
- Hyperliquid Strategies / similar crypto treasury vehicles: Following the 2024 pivot, Eyenovia/Hyperion DeFi is most comparable to other public crypto-treasury companies (e.g., MicroStrategy for BTC, newer HYPE/SOL treasury wrappers) that raise dilutive equity to acquire and hold digital assets. Different business model than the original ophthalmic operations.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights5 records
Customer concentration
Eyenovia social profiles
Digital presenceEyenovia financial estimates
Financial estimateRevenue estimate
Valuation estimate
Eyenovia leadership team
Management profileNumber of profiles
Profiles13 records
Eyenovia funding detail
Funding detailFunding overview
Funding rounds14 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Eyenovia M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Eyenovia
What does Eyenovia do?
Eyenovia developed and commercialized a portfolio of next-generation topical ophthalmic treatments built on its proprietary Optejet microdroplet drug-delivery platform. Its commercial offering, Mydcombi, is an FDA-approved topical ophthalmic solution for inducing mydriasis or miosis during ophthalmic surgical procedures, while MicroLine (in development) targets presbyopia. The company sold these products and devices to ophthalmology and optometry practices in the United States.
Is Eyenovia a public or private company?
Eyenovia is a public company. It is classified as private equity controlled and is currently operating.
When was Eyenovia founded?
Eyenovia was founded in 2014. It employs 11 to 50 people.
Where is Eyenovia based?
Eyenovia is headquartered in New York, United States, in the North America region.
How does Eyenovia make money?
One revenue line is on record: product Sales.
Who are Eyenovia's main competitors?
Broad incumbents on record are Alcon and Bausch + Lomb. Direct peers are Clearside Biomedical, Ocular Therapeutix, Aldeyra Therapeutics, Nicox SA and EyePoint Pharmaceuticals. Emerging players are Outlook Therapeutics and Kala Bio. Hyperliquid Strategies / similar crypto treasury vehicles is listed as an others.
Does Eyenovia have an API?
No public API is recorded for Eyenovia.
What industry is Eyenovia in?
Eyenovia's product category is Ophthalmic Pharmaceuticals. Its primary akta.pro industry code is HLAHAIAL, Ocular Drug Delivery Devices (Eye Droppers/Inserts), with a secondary code of HLAIAAAL, Ophthalmology Pharmaceuticals. Its NAICS code is 339115 and its SIC code is 3851.