@ Corinthian Ophthalmic nets $1.6M for eye device | SEBIO

Corinthian Ophthalmic nets $1.6M for eye device

Posted by on Mar 22, 2013

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.

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