TearClear Raises $22 Million to Advance Clinical Programs in Development and Names Raetzman as a Director

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BOSTON—TearClear, an emerging ophthalmic pharma company working to disrupt the way topical medications are delivered to the ocular surface, has raised $22 million in a Series B funding round, according to an announcement Tuesday. The investment will be used to advance multiple clinical programs in development, with two lead candidates in glaucoma paving the way for future indications. Participating in the raise was Visionary Ventures, Bluestem Capital and Flying L Partners, who collaborated with Falcon Vision, a platform formed by KKR to advance innovation in ophthalmology.

TearClear also announced the appointment of Stuart Raetzman, who most recently served as chief executive officer of Galderma, to the TearClear board of directors.

“Stuart is a life science industry executive with proven success in pharmaceuticals, biologics, medical devices and over‐the‐counter products,” TearClear chief executive officer, Robert Dempsey said. “His appointment further strengthens our board and his commercial expertise will be a tremendous value to the team.

As chief executive of Galderma, Raetzman led the dramatic turnaround of the company, ultimately selling the business to private equity firm EQT Partners. Previously, his eyecare expertise was established during his two decades in global leadership roles with Alcon, following his tenure at Allergan and Chiron Vision, the TearClear announcement noted.

“Eyecare professionals have long recognized the negative effects of preservatives on the ocular surface,” Raetzman noted. “TearClear is the only pharmaceutical company to administer preservative-free eye drops to the ocular surface that are preserved safely prior to administration. I’m excited to join the board of TearClear to help bring their versatile platform through regulatory approval and to market.”

TearClear’s lead product candidates in glaucoma will “pave the way for future indications across multiple programs in development,” the company noted. Its first-in-class platform of drugs enables medication delivery to ultimately enhance patient safety and compliance by capturing preservatives before they reach the ocular surface.