Anthony Petrone

David Saxon

Jack Reynolds-Clark

Jeffrey Johnson

Ryan Zimmerman

Brett Fishbin

David Adlington

Graham Doyle

Issie Kirby

Larry Biegelsen

Patrick Wood

Thomas Stephan

Veronika Dubajova

Michael Sarcone

Richard Felton

Chris Pasquale

Christopher Pasquale

Harry Shrives

Jeff Johnson

Julien Ouaddour

Kavya Deshpande

Lawrence Biegelsen

Steven Lichtman

Susannah Ludwig

Tom Stephan

Young Li

- **Yunqi Capital**, a **5.1% shareholder** of STAAR Surgical, has issued a letter opposing the proposed sale of STAAR to Alcon Inc. and has **voted its shares against the merger**.  **[1167379_4a7c4310995e44a483d88f3202d15b47_0]** 
- The investment firm urges STAAR's Board to proceed with the special meeting on **October 23, 2025**, as planned, to vote on the transaction.  **[1167379_4a7c4310995e44a483d88f3202d15b47_0]** **[1167379_4a7c4310995e44a483d88f3202d15b47_1]** 
- Yunqi Capital criticizes the merger process as deficient and questions the stated **59% premium** to STAAR's 90-day Volume Weighted Average Price (VWAP), arguing it lacks long-term context.  **[1167379_4a7c4310995e44a483d88f3202d15b47_0]** **[1167379_4a7c4310995e44a483d88f3202d15b47_1]** 
- Preliminary **Q3 2025 net sales results** for STAAR, including an estimated **$54.4 million** in China revenue for the quarter and **$142.6 million** for the first three quarters of 2025, are cited as evidence of a positive trajectory supporting their opposition to the merger.  **[1167379_4a7c4310995e44a483d88f3202d15b47_2]**

Yunqi Capital Issues Letter Opposing Alcon's Proposed Acquisition of STAAR Surgical

- Aurion Biotech's AURN001 Phase 1/2 CLARA trial successfully achieved **all primary, secondary, and exploratory endpoints** at 12 months.  **[1167379_db4f057dc668487fa61643ce9292d8fb_0]** 
- The high-dose AURN001 group demonstrated significant efficacy, with **65%** of subjects achieving a **≥15-letter best corrected visual acuity (BCVA) gain** at 12 months, and a mean BCVA change of **12.5 letters** from baseline.  **[1167379_db4f057dc668487fa61643ce9292d8fb_0]** 
- AURN001 was found to be **safe and well-tolerated** across all treatment groups, with **no cases of graft rejections** or treatment-related serious adverse events.  **[1167379_db4f057dc668487fa61643ce9292d8fb_0]** 
- Aurion Biotech plans to advance AURN001 to a **pivotal Phase 3 trial in the first half of 2026**.  **[1167379_db4f057dc668487fa61643ce9292d8fb_0]** 
- AURN001 has received **Regenerative Medicine Advanced Therapy (RMAT)** and **Breakthrough Therapy Designation (BTD)** in the U.S., and each qualified donor line may yield up to **1,000 therapeutic doses**.  **[1167379_db4f057dc668487fa61643ce9292d8fb_1]**

Aurion Biotech Announces Positive AURN001 Phase 1/2 CLARA Trial Results

- Glass Lewis, a leading independent proxy advisory firm, has recommended that shareholders of STAAR Surgical Company vote **against** the proposed acquisition by Alcon Inc..  **[1167379_9f8431ac299d45e889664e2ba63bd0c1_0]** 
- The recommendation is based on concerns regarding the **sale process, timing, and price** of the deal, with Glass Lewis concluding that STAAR shareholders would be better served by rejecting the proposed merger.  **[1167379_9f8431ac299d45e889664e2ba63bd0c1_0]** 
- Glass Lewis noted that STAAR's CEO and Chair did not disclose pertinent information about inbound interest to acquire the company to the rest of the board.  **[1167379_9f8431ac299d45e889664e2ba63bd0c1_0]** **[1167379_9f8431ac299d45e889664e2ba63bd0c1_2]** 
- The deal's implied next-twelve-month (NTM) revenue multiple of approximately **4.56x** is considered to be below both the median (5.1x) and mean (6.2x) NTM revenue multiples of precedent healthcare equipment and supplies transactions.  **[1167379_9f8431ac299d45e889664e2ba63bd0c1_2]**

Glass Lewis Recommends STAAR Shareholders Vote Against Alcon Acquisition

ALCON (ALC)