Sight Sciences Raises $56M of Growth Capital to Lead the Development of the Standalone MIGS Market and Procedure-Based Dry Eye Market

眼科医疗器械公司Sight Sciences完成3100万美元D轮融资

2019-09-06 20:00:00 BioSpace


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 $31 million in Series D Preferred Stock financing led by KCK Group, a leading investor in high growth medical technology companies. MidCap Financial, a prominent middle-market lender to healthcare companies that is managed by Apollo Capital Management, L.P., and has over $20 billion of commitments under management, also participated in the equity raise. MidCap and Sight Sciences entered into a $25 million debt facility earlier in 2019. The $56 million of total financing proceeds are being used to accelerate the growth of the OMNI® Surgical System and TearCare® System in the United States, to develop a global commercial infrastructure in select international markets, to conduct additional clinical trials across the entire product portfolio, and to develop a pipeline of innovations in new ophthalmic categories. "Sight Sciences has created one of the most innovative approaches to surgical glaucoma in decades," said Valeska Schroeder, Managing Director of KCK Medical Technologies Group. "It became clear in our diligence that surgeons across the United States are rapidly adopting OMNI® as their preferred MIGS device. By targeting all three sources of outflow resistance in the conventional outflow pathway, OMNI® is uniquely capable of opening up the highly anticipated and substantial 'Standalone MIGS' market. KCK is also excited about Sight Sciences' recent launch of TearCare®, the only wearable, open-eye device in the underserved and rapidly emerging evaporative dry eye space. KCK is looking forward to partnering with Sight Sciences as they lead the development and expansion of these two rapidly emerging markets." "We could not be more thrilled than to have KCK as our lead growth equity investor and MidCap as our debt capital provider," said Jesse Selnick, Chief Financial Officer of Sight Sciences. "KCK's unmatched breadth of high growth medtech investment and operating experience, which includes successful and disruptive market development work, is truly the perfect match for where we are in our Company's evolution. We look forward to long and successful partnerships with our key stakeholders and to continue upon the substantial commercial and product development progress Sight Sciences has made over the past year." "The OMNI® Surgical System has had great success in the established MIGS market in combination with cataract surgery and its use is expanding organically and quickly into Standalone MIGS," added Shawn O'Neil, Chief Commercial Officer of Sight Sciences. "On the vision care side of the business, the early, yet substantial, market receptivity for TearCare® implies a solid product-market fit and compelling demand in the underserved and rapidly emerging evaporative dry eye space. We're looking forward to successfully developing and leading the Standalone MIGS market and Procedure-Based Dry Eye market with this growth capital infusion and partnership with KCK." Upon closing, Valeska Schroeder has joined Sight Sciences' Board of Directors together with co-founder and Chief Executive Officer Paul Badawi, co-founder Dr. David Badawi, Staffan Encrantz of Allegro Investment Fund, Mack Hicks of Hicks Holdings and Carter Meyer of Scientific Health Development. About Sight Sciences 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® Surgical System, a dually-indicated device that facilitates the performance of both trabeculotomy and transluminal viscoelastic delivery. Using proprietary multi-modal functionality, OMNI® allows 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. The Company's non-surgical Dry Eye product portfolio consists of TearCare® for ophthalmologists and optometrists. TearCare® is 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™ 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.
Sight Sciences , Inc .是一家成长阶段的医疗器械公司,致力于改造眼科和视光、青光眼和干眼病这两个增长最快的细分市场。该公司今天宣布,以高增长医疗技术公司的领先投资者 KCK 集团为首的 D 系列优先股融资将关闭3100万美元。MidCap Financial 是由阿波罗资本管理公司( Apollo Capital Management , L.P .)管理、管理着超过200亿美元承诺的医疗保健公司的著名中端市场贷款机构,也参与了此次股权融资。MidCap 和 Sight Sciences 于2019年早些时候达成了一项2500万美元的债务安排。融资总额中的5600万美元将用于加快美国 OMNI ®外科系统和 TearCare ®系统的增长,在选定的国际市场开发全球商业基础设施,在整个产品组合中进行额外的临床试验,开发一系列新的眼科领域的创新。 KCK 医疗技术集团董事总经理 Valeska Schroeder 说:“视觉科学已经创造了几十年来最具创新性的手术青光眼方法之一。”“很明显,在我们的努力中,美国各地的外科医生正迅速采用 OMNI ®作为他们首选的 MIGS 设备。OMNI ®针对传统外流路径中的所有三个外流阻力来源,具有独特的能力,能够打开备受期待和巨大的“独立 MIGS ”市场。KCK 还对 Sight Sciences 公司最近推出的 TearCare ®感到兴奋。 TearCare ®是唯一一款可穿戴、开眼的设备,位于服务不足且快速出现的蒸发干眼区。KCK 正期待与 Sight Sciences 合作,因为他们领导着这两个快速发展的新兴市场的发展和扩张。” Sight Sciences 首席财务官 Jesse Selnick 表示:“我们不能比让 KCK 作为我们的主要成长型股票投资者和 MidCap 作为我们的债务资本提供者更兴奋。”“ KCK 无与伦比的高增长的高科技投资和运营经验,包括成功和颠覆性的市场开发工作,是我们在公司发展中的完美匹配。我们期待着与我们的主要利益相关者建立长期和成功的合作伙伴关系,并继续在过去一年中取得实质性的商业和产品开发进展。 Sight Sciences 首席商务官 Shawn O'Neil 补充说:“ OMNI ®手术系统在成熟的 MIGS 市场上与白内障手术相结合取得了巨大成功,其应用正在有机地、快速地扩展到独立 MIGS 。”“在业务的视觉护理方面, TearCare ®的早期但实质性的市场接受性意味着,在服务不足且快速新兴的蒸发干眼区,产品市场适合且有吸引力的需求。我们期待着成功地开发和领导独立 MIGS 市场和基于程序的干眼市场与这一增长的资本注入和与 KCK 的伙伴关系。 最后, Valeska Schroeder 与联合创始人兼首席执行官 Paul Badawi 、联合创始人 David Badawi 博士、 Allegro 投资基金的 Staffan Enrantz 、 Hicks Holdings 的 Mack Hicks 和科学健康发展的 Carter Meyer 一起加入了 Sight Sciences 的董事会。 关于视觉科学 Sight Sciences 成立于2011年,目前已开发出以智能设计和工程设计产品为商业目标的产品,其目标是世界上最流行的眼疾的根本原因。本公司的手术青光眼产品组合采用 OMNI ®手术系统,这是一种双指示装置,可促进小梁切除和平射粘弹性传输的性能。使用专有的多模态功能, OMNI ®允许外科医生通过单一设备和单一的角膜切口,瞄准常规外流途径(小梁网、 Schlemm 管和收集通道)中的所有三种阻力来源。 本公司的非手术干眼类产品组合包括眼科医生和视光师的 TearCare ®产品。TearCare ®是一种软件控制的、可穿戴的眼睑技术,可为眼睑的美白波绵腺提供高针对性和可调的热量。利用眨眼的全部功能,专有的 SmartLid ™技术旨在在 Meibm 处于软化阶段时促进自然的 mebum 表达。TearCare 创新的“设备光”产品设计及其直观的程序,为眼科医疗服务提供商创造了极具吸引力的临床和经济模式。