Sight Sciences, which provides medical and surgical devices for underserved eye diseases, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
Sight Sciences currently markets two products: the OMNI Surgical System and the TearCare System. The OMNI Surgical System is a handheld, single-use, therapeutic device that allows ophthalmic surgeons to reduce intraocular pressure in adult glaucoma patients via a minimally invasive surgery. TearCare is a wearable, open-eye system designed to apply localized heat to eyelids for the treatment of Dry Eye Disease. The company estimates the market size for glaucoma and Dry Eye Disease to be $6 billion and $10 billion, respectively.
The Menlo Park, CA-based company was founded in 2010 and booked $30 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol SGHT. Morgan Stanley, BofA Securities, Citi, and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.
