{"id":712,"date":"2020-03-18T19:25:53","date_gmt":"2020-03-18T16:25:53","guid":{"rendered":"https:\/\/www.sightsciences.com\/us\/?p=712"},"modified":"2020-03-18T19:25:53","modified_gmt":"2020-03-18T16:25:53","slug":"sight-sciences-announces-30-million-financing-led-by-d1-capital-partners","status":"publish","type":"post","link":"https:\/\/www.sightsciences.com\/us\/sight-sciences-announces-30-million-financing-led-by-d1-capital-partners\/","title":{"rendered":"Sight Sciences Announces $30 Million Financing Led by D1 Capital Partners"},"content":{"rendered":"

MENLO PARK, Calif.,\u00a0March 18, 2020\u00a0\/PRNewswire\/ — Sight Sciences, Inc., a growth-stage medical device company transforming the two fastest growing segments in ophthalmology and optometry, glaucoma and dry eye disease, today announced the closing of an over\u00a0$30 million\u00a0Series E Preferred Stock financing round led by D1 Capital Partners. Proceeds will be used for continued clinical and operational development and to support commercial expansion for Sight Sciences’ OMNI\u00ae<\/sup>\u00a0and TearCare\u00ae<\/sup>\u00a0products.<\/p>\n

“Sight Sciences has introduced two technologies that have fundamentally improved how physicians can treat two of the most prevalent eye diseases.\u00a0In minimally invasive glaucoma surgery the safety, efficacy and versatility of the OMNI device is unmatched,” said\u00a0James Rogers, analyst at D1 Capital Partners. “Additionally, we feel the early success with the commercialization of TearCare suggests this innovative and effective solution has addressed the shortfalls of previous dry eye treatments and modalities for this common ailment.”<\/p>\n

Glaucoma affects 80 million people globally and is the leading cause of irreversible blindness in the aging world population. Dry eye disease afflicts 350 million people globally and is the leading cause of visits to an eye care provider.<\/p>\n

“D1 is truly a perfect fit for our company at this stage, combining the scale, market reach, investment talent and operational acumen of a large, premier asset manager with the flexible mandate and long-term investment horizon of a family office.”<\/p><\/blockquote>\n

“We are thrilled to be closing a significant growth investment round with D1,” said\u00a0Jesse Selnick, CFO of Sight Sciences.\u00a0“D1 is truly a perfect fit for our company at this stage, combining the scale, market reach, investment talent and operational acumen of a large, premier asset manager with the flexible mandate and long-term investment horizon of a family office.”<\/p>\n

Founded by\u00a0Daniel Sundheim\u00a0in 2018, D1 currently has\u00a0$10 billion\u00a0of capital under management and invests in the global internet, technology, telecom, media, consumer, healthcare, industrial, and real estate sectors.\u00a0 Sight Sciences represents the third late-stage private healthcare investment made by D1 in the last 18 months.<\/p>\n

“We are extremely excited to partner with D1 over the long term,” said\u00a0Paul Badawi, founder and CEO of Sight Sciences. “This investment further validates the substantial progress we have made in our mission to transform the treatment of the world’s most prevalent eye diseases.\u00a0 Through further clinical trials and continued scale-up of our commercial infrastructure, we are looking forward to accelerating the market development of both standalone MIGS with OMNI and procedure-based dry eye therapy with TearCare.”<\/p>\n

About\u00a0OMNI\u00ae<\/sup>\u00a0Surgical System
\n<\/strong>The OMNI\u00a9<\/sup>\u00a0Surgical System is a manually operated device for delivery of small amounts of viscoelastic fluid, for example Healon\u00ae<\/sup>\u00a0or HealonGV\u00ae<\/sup>\u00a0from Abbott Medical Optics (AMO), Amvisc\u00ae<\/sup>\u00a0from Bausch & Lomb, or PROVISC\u00ae<\/sup>\u00a0from Alcon, during ophthalmic surgery. It is also indicated to cut trabecular meshwork tissue during trabeculotomy procedures.<\/p>\n

The OMNI\u00ae<\/sup>\u00a0System should not be used in cases where there is insufficient visualization of the anterior chamber. The following conditions may prohibit sufficient visualization required for safe and successful cannula and microcatheter placement: corneal edema, corneal haze, corneal opacity, or any other conditions that may inhibit surgeon view.<\/strong><\/p>\n

The OMNI\u00ae<\/sup>\u00a0Surgical System is a tool, not a treatment, and is indicated for use as specified above; it is not specifically cleared by the FDA to lower intraocular pressure in patients with open angle glaucoma.<\/strong><\/p>\n

About TearCare\u00ae
\n<\/sup><\/strong>The TearCare\u00ae<\/sup>\u00a0System is indicated for the application of localized heat when the current medical community recommends the application of a warm compress to the eyelids. Such applications would include Meibomian Gland Dysfunction (MGD), Dry Eye, or Blepharitis.<\/p>\n

About Sight Sciences
\n<\/strong>Founded in 2011, Sight Sciences has developed, and is now commercial with intelligently designed and engineered products that target the underlying causes of the world’s most prevalent eye diseases. The company’s surgical glaucoma product portfolio features the OMNI\u00ae<\/sup>\u00a0Surgical System, a dually-indicated device that facilitates the performance of both trabeculotomy and transluminal viscoelastic delivery. Using proprietary multi-modal functionality, OMNI\u00a0allows surgeons to target of all three sources of resistance in the conventional outflow pathway (trabecular meshwork, Schlemm’s canal, and collector channels) with a single device and single corneal incision.<\/p>\n

The company’s non-surgical Dry Eye product portfolio consists of TearCare\u00ae<\/sup>\u00a0for ophthalmologists and optometrists. TearCare\u00a0is a software-controlled, wearable eyelid technology that delivers highly targeted and adjustable heat to the meibomian glands of the eyelids. Leveraging the full functionality of the blinking eye, proprietary SmartLid\u2122 technology is designed to facilitate natural meibum expression when meibum is in its softened phase. TearCare’s innovative, “equipment-light” product design and the intuitive procedure it facilitates create a highly attractive clinical and economic model for eye care providers.<\/p>\n

OMNI\u00ae<\/sup>\u00a0and TearCare\u00ae\u00a0<\/sup>are registered trademarks of Sight Sciences.
\n\u00a9 2019 Sight Sciences. All rights reserved.<\/p>\n

Media contact:<\/strong>
\nShay Smith
\nHealth+Commerce
\n707.971.9779
\nshay@healthandcommerce.com<\/a><\/p>\n

Investor contact:
\nLynn Lewis
\n415-937-5402
\nlynn@gilmartinir.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MENLO PARK, Calif.,\u00a0March 18, 2020\u00a0\/PRNewswire\/ — Sight Sciences, Inc., a growth-stage medical device company transforming the two fastest growing segments in ophthalmology and optometry, glaucoma and dry eye disease, today announced the closing of an over\u00a0$30 million\u00a0Series E Preferred Stock financing round led by D1 Capital Partners. 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