TearClear Appoints Robert J. Dempsey Chief Executive Officer
TearClear announced the appointment of Robert J. Dempsey as Chief Executive Officer. TearClear is the onlypharmaceutical company to administer preservative free eye drops to the ocular surface, that are preserved safely prior to dosing, according to a company news release.
Mr. 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 pipeline and leading the company’s efforts in bringing innovative products to market.
“TearClear’s versatile platform ensures safety and efficacy without compromising the ocular surface,” Mr. 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.
“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, PhD, Chairman of TearClear’s Board.
TearClear is a “pharmaceutical company that will change the way ophthalmic drugs are delivered to patients,” TearClear Founder and Board Member, Rick Heinick, said in the news release. “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.”
Mr. Dempsey has long-standing relationships in the ophthalmic pharmaceutical industry, where he has built a reputation as a multi-disciplined and accomplished leader, innovator and executive. He 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.