Ocular Science Secures $16.5M Loan to Advance Compounded Ophthalmic Solutions

CHICAGO, IL – January 15, 2026 – By Ruth Flores

Chicago Atlantic, a private market lender, has finalized a $16.5 million senior secured term loan for Ocular Science, Inc., a key player in the biotech space focused on compounded ophthalmic products. The significant capital infusion is set to enhance the operational capabilities of Ocular Science and its affiliate, OSRX, Inc., signaling strong investor confidence in the future of customized eye care.

This funding arrives as the ophthalmology market undergoes a major transformation, driven by an aging population and a growing demand for personalized medical solutions. Ocular Science, founded in 2015, operates at the center of this shift, leveraging its expertise to create specialized medications for patients undergoing vision correction surgery or managing chronic conditions like glaucoma and myopia.

The Growing Need for Custom Eye Care

The demand for specialized ophthalmic solutions is surging, propelled by powerful demographic and medical trends. Globally, the population is aging at an unprecedented rate; projections indicate that by 2030, one in six people will be over the age of 60. This demographic shift directly correlates with a higher prevalence of age-related eye conditions such as cataracts, glaucoma, and macular degeneration, placing increasing strain on traditional eye care models.

The ophthalmic compounding pharmacy market is capitalizing on this trend, with some industry reports projecting its value to exceed $20.4 billion by 2030. This growth is not just about serving more patients; it's about serving them better. Compounded medications, created by combining, mixing, or altering ingredients, offer tailored therapeutic solutions that mass-produced drugs often cannot. They can provide specific dosages, create preservative-free formulas for sensitive patients, or combine multiple medications into a single application to simplify treatment regimens.

This is the niche where Ocular Science and its affiliate OSRX, an FDA-registered 503B outsourcing facility, have established their leadership. By focusing on compounded therapies, the company addresses persistent issues in eye care, including patient compliance and drug shortages. For post-surgical patients, managing multiple eye drop schedules can be confusing and lead to missed doses. OSRX streamlines this by creating combination drops, improving patient adherence and potentially reducing post-operative complications. This model offers a paradigm shift from one-size-fits-all prescriptions to patient-centric care.

A Strategic Bet on Ophthalmic Innovation

The $16.5 million loan is more than just a financial transaction; it represents a strategic investment by Chicago Atlantic into a specialized and high-demand sector. As a private market lender known for financing companies in esoteric industries where capital is scarce, Chicago Atlantic's move underscores the perceived value and growth potential of compounded pharmaceuticals.

“Ocular Science is a leading biotech company focused on ophthalmology, guided by a patient-first philosophy and a commitment to manufacturing excellence. The company has built strong relationships with physicians and key opinion leaders nationwide,” commented Dino Colonna, Partner at Chicago Atlantic. “Supported by favorable industry tailwinds, including an aging population and a differentiated value proposition that simplifies care delivery, we believe Ocular Science and OSRX are well positioned for continued growth.”

Chicago Atlantic's portfolio strategy often targets sectors like healthcare and technology that exhibit robust growth fundamentals and structural advantages. The investment in Ocular Science aligns perfectly with this approach. The deal provides Ocular Science with critical operating flexibility, while Chicago Atlantic gains exposure to a resilient market insulated from broader economic volatilities. The rising demand for eye care, coupled with a projected 30% workforce inadequacy in ophthalmology by 2035, amplifies the need for efficient solutions like those OSRX provides.

Redefining Patient Access and Compliance

A cornerstone of OSRX’s business model is its focus on accessibility and convenience. The company has pioneered a system where its compounded medications can be shipped directly to a patient's home or delivered in bulk to medical facilities. This direct-to-patient approach is particularly transformative for the elderly or patients with mobility issues, removing the barrier of frequent pharmacy visits.

By simplifying dosing protocols—for instance, combining three different post-cataract surgery drops into a single bottle—OSRX directly addresses the challenge of patient non-compliance. This not only improves clinical outcomes but also enhances staff efficiency at clinics, which no longer have to spend as much time explaining complex medication schedules. This innovative delivery model, which OSRX calls "A New View of Medicine®," positions the company as a logistical partner for ophthalmologists, not just a drug manufacturer.

Operating as an FDA-registered 503B outsourcing facility is crucial to this model. Unlike traditional 503A pharmacies that require patient-specific prescriptions, 503B facilities can produce larger batches of compounded drugs for office use, ensuring physicians have a ready supply for surgical procedures. This status also subjects OSRX to stringent federal oversight, including adherence to Current Good Manufacturing Practices (CGMP), providing an assurance of quality and safety in a field where precision is paramount.

Navigating a Competitive and Regulated Market

With this new capital, Ocular Science is better equipped to navigate the competitive landscape of ophthalmic compounding. The company operates in a dynamic market with several key players, where innovation and reliability are critical differentiators. The guidance of its 31-member medical advisory board, composed of world leaders in ophthalmology, provides an essential edge in identifying and developing paradigm-shifting therapeutic solutions.

The regulatory environment, while providing a framework for quality, also presents challenges. The distinction between FDA-approved ingredients and the non-approved final compounded product requires careful communication and adherence to best practices. OSRX’s commitment to manufacturing excellence within the 503B framework is central to its reputation among more than 9,500 prescribers nationwide.

The recent funding provides the stability and resources needed to thrive amidst these complexities. Anthony Sampietro, Founder, President, and CEO of Ocular Science and OSRX, framed the investment as a validation of the company's mission. “Our company was built by people who believe in doing the right thing for physicians and patients, even in the face of adversity and uncertainty,” he stated. “This capital strengthens our foundation, provides critical operating flexibility, and enables us to continue going the extra mile for our customers for many years to come.” With this strengthened foundation, Ocular Science is poised to deepen its impact on the ophthalmic market, making customized, cost-effective, and convenient eye care the standard rather than the exception.