Sight Sciences Announces $30 Million Financing

Sight Sciences Inc., a growth-stage medical device company transforming the two fastest growing segments in ophthalmology and optometry, glaucoma and dry eye disease, has announced the closing of a more than $30 million Series 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 and TearCare products.   
 
“Sight Sciences has introduced two technologies that have fundamentally improved how physicians can treat two of the most prevalent eye diseases. In minimally invasive glaucoma surgery the safety, efficacy and versatility of the OMNI device is unmatched,” said James 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.”
 
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.
 
“We are thrilled to be closing a significant growth investment round with D1,” said Jesse Selnick, chief financial officer of Sight Sciences. “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.” 
 
Founded by Daniel Sundheim in 2018, D1 currently has $10 billion of capital under management and invests in the global internet, technology, telecom, media, consumer, healthcare, industrial, and real estate sectors.  Sight Sciences represents the third late-stage private healthcare investment made by D1 in the last 18 months.
 
“We are extremely excited to partner with D1 over the long term,” said Paul 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.  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.”
 
The OMNI Surgical System is a manually operated device for delivery of small amounts of viscoelastic fluid, for example Healon® or HealonGV from Abbott Medical Optics (AMO), Amvisc from Bausch & Lomb, or PROVISC from Alcon, during ophthalmic surgery. It is also indicated to cut trabecular meshwork tissue during trabeculotomy procedures.
 
The TearCare System 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.