Release date: 2016-03-18
On March 15, Sight Sciences, a US commercial ophthalmic medical device company, announced the completion of a $7 million Series B round of financing. This round of financing was led by Hicks Equity Partners. All A rounds of investors including Scientific Health Development, Allegro Investment Fund, and several other investment institutions have once again participated in the follow-up.
The company said that the proceeds from the transaction will be used to establish a management team, scale production, support product development, and launch a series of clinical research.
It is understood that Sight Sciences was established in 2006 and is headquartered in Menlo Park, California. As a medical device company, it operates two lines of business: surgery and non-surgery. Surgical type portfolio includes TRAB â„¢ 360 and VISCO â„¢ 360 medical device; non-surgical type of portfolio includes evaporative dry eye therapy.
Hicks Equity Partners (HEP) is a private equity fund established by Hicks Holdings LLC, owned by the Thomas O. Hicks family and headquartered in Dallas, Texas, USA. With over 40 years of private equity investment experience, Hicks pioneered a “buy and build†investment strategy and created Hicks Muse Tate & Furst and Hicks & Haas. The HEP investment team consists of nine members, and their investment experience adds up to more than 200 years, and together they have deployed more than $50 billion in leveraged buyouts.
“We are delighted that Hicks EquityPartners has joined our shareholder team and looks forward to creating measurable value together. Our existing shareholders have seen early clinical data from our two lines of business and have increased support for us. We look forward to starting a series of clinical trials on our ophthalmic product portfolio,†said Paul Badawi, President and CEO of Sight Sciences.
Source: 36æ°ª
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