Industry Leader Srini Venkatesh, PhD, to drive TearClear’s scientific and R&D strategy
Supports the next phase of development for its disruptive ophthalmic pharmaceutical platform
ORANGE COUNTY, Calif., May 29, 2019 (GLOBE NEWSWIRE) — TearClear, the specialty pharmaceutical company uniquely focused on developing a family of preservative-free topical ophthalmic drugs, today announced another big step forward with the appointment of Srini Venkatesh, PhD, as Chief Scientific and Innovation Officer. Dr. Venkatesh will be responsible for setting the scientific and clinical strategy for TearClear, as well as overseeing day-to-day research and development operations.
“Srini is a welcome addition to the TearClear executive team, bringing tremendous experience in ophthalmic drug development and expertise in pharmaceutical formulations,” commented Kevin Hershfield, Chief Executive Officer. “This appointment reflects the next stage of our Company’s advancement in bringing to market a family of truly differentiating specialty ophthalmic pharmaceuticals that address unmet patient needs.”
Dr. Venkatesh joins TearClear from GOJO Industries, where he served as Chief Science and Technology Officer. Prior to that, he was Vice President of R&D at Bausch & Lomb. During his time at Bausch & Lomb, Dr. Venkatesh enabled the launch of over $300 million of new products and developed a pipeline that led to industry leading eye care solutions. Earlier in his career, Dr. Venkatesh was Director of R&D at Bristol Myers Squibb, where he also led the development of several drugs across various classes. Dr. Venkatesh holds an MBA from the University of Pennsylvania’s Wharton School and a PhD in Pharmaceutics from the University of Minnesota. He completed his post-doctoral fellowship in Pharmaceutical Chemistry at the University of Utah.
“TearClear has the opportunity to provide a significant advancement to the $20+ billion global ophthalmic pharmaceutical industry as it addresses the unmet need for delivery of preservative-free drugs,” said Dr. Venkatesh. “I am excited to join the Company as it enters the next phase of development and look forward to improving eye health for our patients.”
Rick Heinick, Chairman of the Board and company founder, added, “We look forward to taking the next steps in advancing our innovative ophthalmic platform by keeping preservative in the bottle, but not in the eye. Srini will be an important part of our executive team working alongside Board members including Bill Link and Dr. Richard Lindstrom. With this team we believe TearClear has a platform opportunity that will revolutionize the global ophthalmic market.”
TearClear Corp. is an early-stage, disruptive eye health company focused on developing preservative-free topical ophthalmic drugs delivered from existing preserved, multi-dose systems. The company is developing a unique pharmaceutical platform to target chronic eye disease drugs where preservatives are commonly used to assure sterility in multi-dose bottles. TearClear aims to address the global market of ophthalmologic drugs for glaucoma, dry eye, allergic conjunctivitis and other indications.
Kirsten Thomas, The Ruth Group
+1 508 280 6592