On March 15, Sight Sciences, a US commercial ophthalmic medical device company, announced the completion of a $7 million Series B round of financing, 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. The surgical product portfolio includes TRAB® 360 and VISCO® 360 medical devices; the non-surgical product portfolio includes evaporative dry eye treatment technology.
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. 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 (reported to be the most successful private placement in history). One of the equity companies. The HEP investment team consists of nine members, and their investment experience adds up to more than 200 years, jointly deploying 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.
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