BOSTON, April 16, 2020 (GLOBE NEWSWIRE) -- TearClear, a global Ophthalmic Pharmaceutical Company, today announced the appointment of Robert J. Dempsey as Chief Executive Officer. TearClear is the only pharmaceutical company to administer preservative free eye drops to the ocular surface, that are preserved safely prior to dosing.

Dempsey, who has more than two decades of experience in the ophthalmic pharmaceutical industry, is expected to accelerate TearClear’s business and commercial strategy, including advancing the robust pipeline and leading the company’s efforts in bringing innovative products to market. 

“TearClear is producing medications in glaucoma, dry eye disease, and other areas that address a critical unmet need for preservative-free eye drops. I'm excited to lead this effort with the team,” Dempsey said. 

The announcement comes as TearClear is approaching the initial close of an up to $25 Million Series B financing. This initial close has been led by Visionary Ventures, Bluestem Capital and Flying L Partners.

“With his background and experience in successfully leading commercialization strategies in the pharmaceutical industry, Bob can guide TearClear to becoming a leader in the ophthalmology industry,” said William Link, Ph.D., Chairman of TearClear’s Board.

TearClear Founder and Board Member, Rick Heinick, describes TearClear as a “pharmaceutical company that will change the way ophthalmic drugs are delivered to patients. It's a breakthrough that we haven’t seen in this industry. By capturing the preservatives before they reach the eye, we are reducing the potential for adverse events and making a difference in patient’s lives. We are pleased to have Bob commercialize the TearClear vision,” Heinick said.

Dempsey served as the Global Head of Ophthalmology at Shire, which was acquired by Takeda, and was responsible for one of the top 10 largest biopharma mergers of 2019, the divestiture of the Takeda lead ophthalmic drug, Xiidra®, a transaction of up to $5.3 billion. 

About TearClear
TearClear is an emerging ophthalmic pharmaceutical company with the goal of disrupting the way current topical medications are delivered to the ocular surface. Our lead product candidates in glaucoma will pave the way for future indications across multiple programs in development. This first in class platform of drugs enables medication delivery to ultimately enhance patient safety and compliance by capturing preservatives before they reach the ocular surface. 

Patrick Crowley