Eyenovia's EYN PG21 Trial Evaluating High-Precision Microdose of Latanoprost Demonstrates Robust Intraocular Pressure Lowering and Patient Usability Positive results validate Eyenovia's piezo-print technology for topical

Eyenovia's EYN PG21 Trial Evaluating

High-Precision Microdose of Latanoprost Demonstrates Robust Intraocular Pressure Lowering and Patient Usability

Positive results validate Eyenovia's

piezo-print technology for topical eye treatment as Company prepares for Phase III trials in progressive myopia, CACG and mydriasis

New York, NY - August 13, 2018

- Eyenovia, Inc. (NASDAQ: EYEN), a biopharmaceutical company developing a pipeline of ophthalmology products utilizing

its patented piezo-print technology to deliver microdosed medications topically to the eye, today announced positive results of

its EYN PG21 proof-of-concept study of microdose latanoprost for the lowering of intraocular pressure (IOP) and patient usability.

The EYN PG21 clinical study investigated

the medication administration effectiveness and IOP lowering effect of microdose latanoprost 0.005% in 60 eyes of 30 healthy volunteers.

Participants received once daily microdose treatment over 2 consecutive days and underwent diurnal (4 times/day) IOP assessments.

The primary outcome was success of microdose delivery, with additional outcomes evaluating diurnal IOP change each day.

In the study, after a brief medication

administration training session, investigators successfully administered high-precision piezo-print latanoprost with a single spray

95% of the time. A separate evaluation of patient self-administration showed an 88% success rate following limited training. This

is a substantive improvement from the 39%-47% success rate reported in the literature using a conventional eyedropper. In addition,

each single medication administration was within 1 L of the prescribed dose and the tear capacity of the eye. This differs

from traditional eyedropper administration, which may deliver as much as 300% more drug than the eye can hold with high variability

The study results also demonstrated that,

while reducing drug administration volume by 75% by delivering the microdose accurately and directly on the corneal surface, piezo-print

micro-formulated latanoprost achieved a very robust reduction in diurnal IOP of up to 29% from baseline unmedicated IOP. This is

consistent with the reported reduction of up to 26% achieved with the same concentration of standard latanoprost eye drops.

Ianchulev, Eyenovia's Chief Executive Officer and Chief Medical Officer, commented,

"We believe these compelling results further validate Eyenovia's high-precision microdosing smart technology and build

on the positive results from our Phase II mydriasis study. These data are very informative for all of our upcoming Phase III programs

in prevention of myopia progression, chronic angle closure glaucoma and mydriasis by demonstrating that medications applied with

our piezo-print technology are both effective and easy for patients to use."

Dr. Louis R. Pasquale, MD, FARVO, Professor

of Ophthalmology at Harvard Medical School, commented, "Conventional eye drops may overdose the eye's tear film capacity

by as much as 300%, causing significant ocular and systemic side effects leading to hyperemia, sunken globe (peri-orbitopathy),

pharmacologic dermatitis and bradycardia, and ultimately the poor compliance that plagues almost all front-of-the-eye treatments.

Microdosing has the potential to address all those problems by providing physiologic high-precision dosing to the eye that stays

Dr. Robert N. Weinreb, Chairman and Professor

of Ophthalmology at the University of California, San Diego, added, "Following Eyenovia's earlier studies, these data

demonstrate that microdosing can open a new chapter in topical eye disease therapy with high-precision microdosing that dramatically

improves the therapeutic index of many front-of-the-eye therapies. Eyenovia's upcoming Phase III programs in myopia, glaucoma

and mydriasis are first-in-class indications that have the potential to introduce a new wave of formulations with improved safety,

tolerability and smart-compliance monitoring."

Eyenovia, Inc. (NASDAQ: EYEN) is a specialty

biopharmaceutical company building a portfolio of next generation topical eye treatments based on its proprietary delivery and

formulation platform for microdosing. Eyenovia's pipeline is currently focused on the late-stage development of microdosed

medications for myopia progression, glaucoma and other eye diseases.

Forward Looking Statements

Except for historical information, all

of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Forward-looking

statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions

or any other statements relating to our future activities or other future events or conditions. These statements are based on current

expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements

are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore,

actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in the forward-looking

statements due to numerous factors discussed from time to time in documents which we file with the SEC. In addition, such statements

could be affected by risks and uncertainties related to, among other things: risks involved in clinical trials, including, but

not limited to, the initiation, timing, progress and results of such trials; the timing and our ability to submit applications

for, obtain and maintain regulatory approvals for, our product candidates; our ability to develop and implement commercialization,

marketing and manufacturing capabilities and strategies; the potential advantages of our product candidates; our ability to attract

and retain key personnel; the rate and degree of market acceptance and clinical utility of our product candidates; our estimates

regarding the potential market opportunity for our product candidates; intellectual property risks; our ability to identify additional

products, product candidates or technologies with significant commercial potential that are consistent with our commercial objectives;

our expectations regarding our ability to fund our operating expenses and capital expenditure requirements; the impact of government

laws and regulations; our competitive position; and general economic conditions. Any forward-looking statements speak only as of

the date on which they are made, and except as may be required under applicable securities laws, we do not undertake any obligation

to update any forward-looking statements.

Chief Financial Officer

Tram Bui / Alexander Lobo

Phone: 646-536-7035/7037

E-mail: tbui@theruthgroup.com / alobo@theruthgroup.com