TearClear, an Orange County, Calif.-based eye health technology company, raised $4.5m in Series A financing.
The round was co-led by Visionary Venture Fund and Bluestem Capital. In addition to the funding, William Link, PhD, who has executive and investment expertise in ophthalmology, has been appointed to the Board of Directors.
The company intends to use the funds to advance development of its delivery system for preservative-free ophthalmic drugs.
Led by Kevin Hershfield, Chief Executive Officer, Rick Heinick, Chairman, Richard D’Souza, PhD, Chief Science & Technology Officer, Howard Golub, MD, PhD, Head of Clinical Development, and inventor Anuj Chauhan, PhD, Professor & Associate Chair, TearClear focuses on developing a means of delivering preservative-free topical ophthalmic drugs from existing preserved, multi-dose systems. The company is developing the technology to target the drugs used to treat chronic diseases where benzalkonium chloride (BAK) is commonly used to assure sterility in multi-dose bottles.
It aims to address the global market of ophthalmologic drugs for glaucoma, over-the-counter (OTC) dry eye, and allergic conjunctivitis.