Tangible Science Company Profile

Background

Overview

Tangible Science is a privately held company specializing in the development and commercialization of innovative contact lens technologies aimed at enhancing comfort and performance for patients and eye care professionals. Founded in 2011 and headquartered in Redwood City, California, the company focuses on addressing common issues such as discomfort, dryness, deposits, and fogging in specialty contact lenses, including scleral, rigid gas permeable (RGP), and hybrid lenses.

Mission and Vision

The company's mission is to dramatically improve the contact lens experience for patients, eye care professionals, and contact lens manufacturers. By leveraging advanced polymer-based coating technologies, Tangible Science aims to provide solutions that enhance comfort, reduce dryness, and improve lens performance, thereby contributing to better eye health and quality of life for contact lens users.

Industry Significance

Operating within the healthcare sector, specifically in the medical device industry, Tangible Science plays a pivotal role in advancing contact lens technology. Its innovations address prevalent challenges in the contact lens market, positioning the company as a key contributor to the evolution of eye care solutions.

Key Strategic Focus

Core Objectives

Tangible Science is dedicated to enhancing the comfort and performance of specialty contact lenses. The company's strategic focus includes:

• Innovative Coating Technologies: Developing advanced polymer-based coatings to improve lens comfort and reduce dryness.

• Product Expansion: Extending the application of their coating technologies to a broader range of contact lens types, including daily disposable lenses.

• Collaboration with Manufacturers: Partnering with contact lens manufacturers to integrate their technologies into existing product lines.

Areas of Specialization

Tangible Science specializes in:

• Scleral Lenses: Large-diameter lenses that vault over the cornea, providing comfort for patients with irregular corneas.

• Rigid Gas Permeable (RGP) Lenses: Durable lenses that offer clear vision and are less prone to deposit buildup.

• Hybrid Lenses: Combining the clarity of RGP lenses with the comfort of soft lenses.

Key Technologies Utilized

The company employs proprietary polymer-based coating technologies designed to:

• Enhance Hydration: Creating a bio-compatible and highly hydrated surface to prevent disruption of the natural tear film.

• Reduce Dryness and Discomfort: Minimizing symptoms associated with dry eye diseases.

• Improve Lens Performance: Enhancing the overall comfort and wearability of contact lenses.

Primary Markets Targeted

Tangible Science primarily targets:

• Patients: Individuals seeking comfortable and effective contact lens solutions, particularly those with dry eye conditions.

• Eye Care Professionals: Optometrists and ophthalmologists looking for advanced lens options to offer their patients.

• Contact Lens Manufacturers: Companies interested in incorporating innovative coating technologies into their product lines.

Financials and Funding

Funding History

Tangible Science has secured funding through various rounds, including:

• Grants: Received support from the National Science Foundation in 2012 and 2013.

• Seed Round: Completed in June 2013.

• Angel Round: Conducted in March 2015.

• Venture Rounds: Held in September 2016 and January 2019, with Helicase Venture participating as a lead investor in the latter.

• Venture Round: Completed in November 2019.

Total Funds Raised

The company has raised a total of approximately $4.58 million across these funding rounds.

Notable Investors

Key investors include:

• National Science Foundation: Provided initial grants in 2012 and 2013.

• Mission BioCapital: Participated in the venture round in January 2019.

• Helicase Venture: Led the venture round in January 2019.

• Mission Bay Capital: Engaged in the seed round in June 2013 and the venture round in September 2016.

Utilization of Capital

The raised capital has been utilized for:

• Research and Development: Advancing coating technologies and product development.

• Product Expansion: Extending the application of technologies to new lens types.

• Operational Growth: Scaling operations to meet market demand.

Pipeline Development

Key Pipeline Candidates

Tangible Science's pipeline includes:

• Hydra-PEG Coating Technology: A proprietary polymer-based coating designed to enhance lens comfort and reduce dryness.

• Daily Disposable Lenses: Development of daily disposable lenses incorporating Hydra-PEG technology.

Stages of Development

The Hydra-PEG coating technology has been integrated into existing lens products, with ongoing research to expand its application. The daily disposable lenses are in the development phase, with plans for market introduction in the near future.

Target Conditions

The primary focus is on alleviating symptoms associated with dry eye diseases and enhancing overall lens comfort.

Anticipated Milestones

Key milestones include:

• Product Launches: Introduction of daily disposable lenses with Hydra-PEG coating.

• Regulatory Approvals: Obtaining necessary certifications for new products.

• Market Expansion: Broadening distribution channels and partnerships with manufacturers.

Technological Platform and Innovation

Proprietary Technologies

Tangible Science's proprietary technology, Hydra-PEG, is a polymer-based coating that:

• Enhances Hydration: Creates a bio-compatible and highly hydrated surface to prevent disruption of the natural tear film.

• Reduces Dryness and Discomfort: Minimizes symptoms associated with dry eye diseases.

• Improves Lens Performance: Enhances the overall comfort and wearability of contact lenses.

Significant Scientific Methods

The company employs advanced polymer chemistry and surface engineering techniques to develop and apply the Hydra-PEG coating, ensuring optimal lens performance and patient comfort.

Leadership Team

Key Executives

• Karen Havenstrite: Co-founder and CEO. Dr. Havenstrite has been with the company since its inception, leading the development of the Hydra-PEG coating technology.

• Victor McCray: Co-founder and Executive Chairman. Dr. McCray served as CEO until January 2025, when he transitioned to Executive Chairman.

• Katharine Kline: Vice President of Operations. Ms. Kline oversees the company's operational strategies and execution.

• Ryan Gorman: Director of Marketing. Mr. Gorman is responsible for the company's marketing initiatives and brand development.

Leadership Changes

In January 2025, Dr. Karen Havenstrite was appointed CEO, succeeding Dr. Victor McCray, who transitioned to the role of Executive Chairman.

Competitor Profile

Market Insights and Dynamics

The contact lens market is characterized by a growing demand for comfort and performance enhancements. Advancements in coating technologies and materials science are driving innovation, with a focus on addressing issues like dryness and discomfort.

Competitor Analysis

Key competitors in the specialty contact lens market include:

• Alcon: A global leader in eye care, offering a range of contact lenses and lens care products.

• Johnson & Johnson Vision: Provides a variety of contact lenses, including those designed for dry eye relief.

• CooperVision: Offers a broad portfolio of contact lenses, focusing on comfort and eye health.

Strategic Collaborations and Partnerships

Tangible Science collaborates with contact lens manufacturers to integrate its Hydra-PEG coating technology into existing product lines, enhancing lens performance and patient comfort.

Operational Insights

Tangible Science differentiates itself through its specialized focus on coating technologies, offering solutions that directly address common patient complaints such as dryness and discomfort. This targeted approach positions the company as a valuable partner for manufacturers seeking to enhance their product offerings.