BOSTON—TearClear, a global ophthalmic pharmaceutical company, has 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. The drops are preserved safely prior to dosing, according to the company’s announcement. Dempsey served as the global head of ophthalmology at Shire, which was acquired by Takeda, and was involved with the divestiture of Takeda’s lead ophthalmic drug, Xiidra, in a transaction valued at up to $5.3 billion.

He also has more than two decades of experience in the ophthalmic pharmaceutical industry, and is now 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, the announcement noted.

"TearClear’s versatile platform ensures safety and efficacy without compromising the ocular surface,” Dempsey said. "We are emerging as a global leader in treating glaucoma, and inflammatory conditions such as dry eye disease. TearClear is producing medications that address a critical unmet need for preservative free eye drops and I'm excited to lead this effort with the team.”

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, according to the announcement.

“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,” William Link, PhD, chairman of TearClear’s board, said.

TearClear founder and board member Rick Heinick said he believes TearClear is a “pharmaceutical company that will change the way ophthalmic drugs are delivered to patients.”

He added, “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 patients' lives. We are pleased to have Bob commercialize the TearClear vision.”

TearClear is an emerging ophthalmic pharmaceutical company with the goal of disrupting the way current topical medications are delivered to the ocular surface. Its lead product candidates in glaucoma will pave the way for future indications across multiple programs in development.