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TearScience secures funding to commercialize devices for dry eye diagnosis, treatment
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MORRISVILLE, N.C. — TearScience has received $44.5 million in Series C funding from new and existing investors to commercialize its devices designed to diagnose and treat chronic dry eye disease, the company announced in a press release.
New investors Essex Woodlands Health Ventures, Investor Growth Capital and General Catalyst joined the company's existing investors, De Novo Ventures, Spray Ventures and Quaker Bio Ventures, to complete the funding.
"This investment offers TearScience the financing and backing to maximize its business opportunity and allows the company to work in conjunction with ophthalmologists to deliver an integrated system to improve the lives of millions of patients afflicted with dry eye disease," Tim Willis, CEO and co-founder of TearScience, said in the release.
TearScience has received a CE mark to market its devices in Europe and is currently seeking clearance from the U.S. Food and Drug Administration. TearScience anticipates its products to be available commercially within the next year.
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