TearClear to initiate global market strategy for its pharmaceutical business
TearClear, a global Ophthalmic Pharmaceutical Company, today announced the appointment of Robert J. Dempsey as Chief Executive Officer. TearClear is the only pharmaceutical company to administer preservative free eye drops to the ocular surface, that are preserved safely prior to dosing.
Dempsey, who has more than two decades of experience in the ophthalmic pharmaceutical industry, is expected to accelerate TearClear’s business and commercial strategy, including advancing the robust pipeline and leading the company’s efforts in bringing innovative products to market.
“TearClear’s versatile platform ensures safety and efficacy without compromising the ocular surface,” Dempsey said. “We are emerging as a global leader in treating glaucoma, and inflammatory conditions such as dry eye disease. TearClear is producing medications that address a critical unmet need for preservative free eye drops and I’m excited to lead this effort with the team.”
The announcement comes as TearClear is approaching the initial close of an up to $25 Million Series B financing. This initial close has been led by Visionary Ventures, Bluestem Capital and Flying L Partners.
“With his background and experience in successfully leading commercialization strategies in the pharmaceutical industry, Bob can guide TearClear to becoming a leader in the ophthalmology industry,” said William Link, Ph.D., Chairman of TearClear’s Board.
TearClear Founder and Board Member, Rick Heinick, describes TearClear as a “pharmaceutical company that will change the way ophthalmic drugs are delivered to patients. It’s a breakthrough that we haven’t seen in this industry. By capturing the preservatives before they reach the eye, we are reducing the potential for adverse events and making a difference in patient’s lives. We are pleased to have Bob commercialize the TearClear vision,” Heinick said.
Bob has long-standing relationships in the ophthalmic pharmaceutical industry, where he has built a reputation as a multi-disciplined and accomplished leader, innovator and executive.
Dempsey served as the Global Head of Ophthalmology at Shire, which was acquired by Takeda, and was responsible for one of the top ten largest biopharma mergers of 2019, the divestiture of the Takeda lead ophthalmic drug, Xiidra®, a transaction of up to $5.3 billion.
TearClear is an emerging ophthalmic pharmaceutical company with the goal of disrupting the way current topical medications are delivered to the ocular surface. Our lead product candidates in glaucoma will pave the way for future indications across multiple programs in development. This 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.
About Preservative Free
Preservatives, such as benzalkonium chloride (BAK), are necessary for ophthalmic solutions to maintain sterility. However, on the ocular surface, they have been reported to be associated with adverse effects like hyperemia, tear film instability, and conjunctival inflammation potentially leading to meibomian gland dysfunction (MGD). By removing preservatives from the ocular surface, the potential for long-term deleterious effects on the eye is reduced. TearClear offers the only means of delivering a preservative-free dose directly from preserved solutions.
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- Patrick Crowley