Diligence memo · auto-generated · as of July 2, 2026
TearScience, Inc.
TearScience, Inc. looks fair against its niche peers and is dormant on financing cadence.
Businessfiled
TearScience, Inc. operates in Pharmaceuticals, based in MORRISVILLE.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
TearScience, Inc. has raised $59M in disclosed capital across 2 recorded rounds, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $40M on 2010-05-04.
Most recent recorded round closed around 2016-03-31.
Valuation (modeled)modeled
Provath models TearScience, Inc. at approximately $654M (range $40M–$2.5B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Fair. Modeled value is 0.96× the median modeled value of Series B Pharmaceuticals companies in 2016–2018 (40 peers) — value vs value, same stage and era. Within the normal band (96% of peer median) for its niche.
Financing rhythm & timingmixed
Historic cadence: a new round about every 71 months.
Last raise 10.3 yr ago; this sector typically re-raises about every 13 months.
Silent for over 3× the sector's normal cadence.
The last round was 2.1× smaller than the prior — a bridge or down round.
Comparablesmixed
Capital scale ranks ahead of 83% of Pharmaceuticals peers (1613 compared).
Modeled value ranks above 84% of those peers.
Closest niche peers: LP Investors, LLC, GigaGen, Inc., Vitality Biopharma, Inc., Madrigal Pharmaceuticals, Inc., Slayback Pharma Ltd Liability Co.
Peoplefiled
14 named people on file across officers, directors and signatories.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.