EternaTear Raises $4.9M in Funding

EternaTear, a startup company based in Raleigh, NC, has raised $4.9 million in funding, according to the North Carolina Biotechnology Center.

The company is working on a non-prescription product called EternaTear. It is an eyedrop intended to treat dry eye syndrome.

The Series A investment round was led by Carolina Angel Network and Keiretsu Forum, the North Carolina Biotechnology Center reports. Other investors included Band of Angels, Deep Work Capital, Duke Angel Network, Keiretsu Capital and various ophthalmologists, optometrists and others.

Tim Willis, CEO of EternaTear, was quoted saying that the funding “provides us the capital to develop our product for both the U.S. and European markets to help the 320 million globally who suffer from dry eye.”

The company’s immediate priorities include “completion of a multi-site clinical marketing study and U.S. Food and Drug Administration OTC registration,” according to the North Carolina Biotechnology Center.