RALEIGH – EternaTear, which is developing a therapy for dry eye using a novel and proprietary mechanism to supplement all three layers of the tear film and bind them together on the ocular surface, is looking to raise $4 million. And some investors are lining up.
In an SEC filing, the Raleigh-based startup says it has raised $2.2 million from 17 investors so far.
The investors received a mix of equity and options for a minimum investment of $5,000.
EternaTear says it is developing “the next generation artificial tear.”
From its website:
LONGER LASTING RELIEF FOR DRY EYE
“Dry eye is the inability of the tear film and lids to protect the surface of the eye, resulting in itching, burning, and pain. With a dozen or more underlying causes, dry eye is notoriously difficult to diagnose and treat, and if left untreated, it can lead to permanent corneal damage. Patients with even moderate dry eye can suffer from debilitating symptoms that lead to a drastically reduced quality of life. Current treatment options are limited, and most patients rely on over-the-counter eye drops for temporary relief. But because they neither treat the root cause, nor appropriately address the symptoms, current products on the market fail to provide adequate relief and must be reapplied as often as 6-12 times every day.”