RALEIGH, NC – A company attempting to make the eyedropper a thing of the past is pursuing debt financing to the tune of $5 million.
Raleigh-based Corinthian Ophthalmic, which has already netted $1.6 million of that sum from 13 investors, has been working on a new eye device meant to be less obtrusive than a traditional eyedropper.
President Skip Ballou could not immediately be reached for comment, but this is the second fundraiser for the company in just a few months.
In December, the company netted $775,000 in its first debt round.
Additionally, the company has raised more than $6 million in equity investment.
In addition to Ballou, Corinthian has some big-name backers, including Fred Eshelman, Furiex (Nasdaq FURX) chair and former CEO of Pharmaceutical Product Development (PPD). Eshelman is listed as an executive and a director in the filing.
Sean Ianchulev, vice president and chief medical officer of Menlo Park, Calif.-based Transcend Medical, is listed as a director.John Mack, a former CEO at Morgan Stanley (NYSE: MS), is also listed as a director.