@ TearScience bags $70 million for commercial efforts | SEBIO

TearScience bags $70 million for commercial efforts

Posted by on Feb 26, 2013

MORRISVILLE, NC – TearScience has secured up to $70 million in funding from HealthCare Royalty Partners, a financial boon that will allow the medical device company to fully implement its commercialization efforts.

The company hopes the cash will establish TearScience’s system as the “standard of care” for evaporative dry eye, a condition that impacts 86 percent of the world’s 100 million dry-eye sufferers.

“We are blessed to obtain this funding to build on our commercialization success,” said CEO Tim Willis in a statement. “Our company had an exceptional first-year product launch with TearScience selling more than 100 systems, effectively treating thousands of dry-eye sufferers, and proving our commercial business model.”

HealthCare Royalty Partners is based in Stamford, Ct., and committed more than $425 million to companies in 2012.

http://www.bizjournals.com/triangle/news/2013/02/25/tearscience-raises-70-million-for.html

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