Sight Sciences, Inc., a venture-backed, commercial stage ophthalmic medical device company today announced it has closed a $7 million Series B round of financing. The round was led by Hicks Equity Partners, a leading private equity firm based in Dallas, Texas. All Series A investors participated in the oversubscribed Series B round, including Scientific Health Development (Series A Co-Lead), Allegro Investment Fund, and various other institutional and angel investors.<\/p>\n
Proceeds from the deal will be used to build out the management team, scale manufacturing, support product development, and initiate a series of clinical studies. \u201cWe are thrilled to have Hicks Equity Partners in our shareholder base and look forward to creating substantial value together,\u201d said Paul Badawi, President and CEO of Sight Sciences. \u201cOur existing shareholders have seen the early clinical data from both our surgical and non-surgical lines of business and all stepped up to support what became an oversubscribed round of financing. We\u2019re looking forward to initiating a series of clinical trials across our ophthalmic product portfolio that will position us for market leadership in each of our respective categories.\u201d<\/p>\n
\u201cWe continue to be impressed with Sight Sciences\u2019 commitment to delivering disruptive medical device innovations to the field of ophthalmology,\u201d said Mack Hicks, partner at Hicks Equity Partners. \u201cThe team has made tremendous progress with its minimally invasive surgical product line and is in the advanced stages of development of a breakthrough medical device in the evaporative dry eye space.\u201d<\/p>\n