Sight Sciences, Inc., a growth-stage medical device company transforming the two fastest growing segments in ophthalmology and optometry, glaucoma and dry eye disease, today announced the closing of an over $30 million Series E Preferred Stock financing round led by D1 Capital Partners. Proceeds will be used for continued clin
| MENLO PARK, Calif., March 18, 2020 /PRNewswire/ -- Sight Sciences, Inc., a growth-stage medical device company transforming the two fastest growing segments in ophthalmology and optometry, glaucoma and dry eye disease, today announced the closing of an over $30 million Series E Preferred Stock financing round led by D1 Capital Partners. Proceeds will be used for continued clinical and operational development and to support commercial expansion for Sight Sciences’ OMNI® and TearCare® products.
“Sight Sciences has introduced two technologies that have fundamentally improved how physicians can treat two of the most prevalent eye diseases. In minimally invasive glaucoma surgery the safety, efficacy and versatility of the OMNI device is unmatched,” said James Rogers, analyst at D1 Capital Partners. “Additionally, we feel the early success with the commercialization of TearCare suggests this innovative and effective solution has addressed the shortfalls of previous dry eye treatments and modalities for this common ailment.” Glaucoma affects 80 million people globally and is the leading cause of irreversible blindness in the aging world population. Dry eye disease afflicts 350 million people globally and is the leading cause of visits to an eye care provider. “We are thrilled to be closing a significant growth investment round with D1,” said Jesse Selnick, CFO of Sight Sciences. “D1 is truly a perfect fit for our company at this stage, combining the scale, market reach, investment talent and operational acumen of a large, premier asset manager with the flexible mandate and long-term investment horizon of a family office.” Founded by Daniel Sundheim in 2018, D1 currently has $10 billion of capital under management and invests in the global internet, technology, telecom, media, consumer, healthcare, industrial, and real estate sectors. Sight Sciences represents the third late-stage private healthcare investment made by D1 in the last 18 months. “We are extremely excited to partner with D1 over the long term,” said Paul Badawi, founder and CEO of Sight Sciences. “This investment further validates the substantial progress we have made in our mission to transform the treatment of the world’s most prevalent eye diseases. Through further clinical trials and continued scale-up of our commercial infrastructure, we are looking forward to accelerating the market development of both standalone MIGS with OMNI and procedure-based dry eye therapy with TearCare.” About OMNI® Surgical System The OMNI® System should not be used in cases where there is insufficient visualization of the anterior chamber. The following conditions may prohibit sufficient visualization required for safe and successful cannula and microcatheter placement: corneal edema, corneal haze, corneal opacity, or any other conditions that may inhibit surgeon view. The OMNI® Surgical System is a tool, not a treatment, and is indicated for use as specified above; it is not specifically cleared by the FDA to lower intraocular pressure in patients with open angle glaucoma. About TearCare® About Sight Sciences The company’s non-surgical Dry Eye product portfolio consists of TearCare® for ophthalmologists and optometrists. TearCare is a software-controlled, wearable eyelid technology that delivers highly targeted and adjustable heat to the meibomian glands of the eyelids. Leveraging the full functionality of the blinking eye, proprietary SmartLid™ technology is designed to facilitate natural meibum expression when meibum is in its softened phase. TearCare’s innovative, “equipment-light” product design and the intuitive procedure it facilitates create a highly attractive clinical and economic model for eye care providers. For more information, please visit sightsciences.com. OMNI® and TearCare® are registered trademarks of Sight Sciences. Media contact: Investor contact:
SOURCE Sight Sciences, Inc. |
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