Chicago Atlantic has closed a $16.5 million senior secured term loan for Ocular Science, an affiliate of OSRX in a transaction where Chicago Atlantic served as sole arranger and administrative agent. Ocular Science and OSRX focus on compounded ophthalmic medications used across surgical vision correction care—pre-operative, intra-operative, and post-operative—as well as ongoing management of myopia and glaucoma.
Founded in 2015, Ocular Science is guided by a medical advisory board of 31 leaders in ophthalmology and develops therapeutic solutions designed to be easy to use, cost-effective, and supportive of patient compliance. Through OSRX, the company delivers compounded ophthalmic products intended to simplify dosing and streamline physician workflows by combining multiple medications, with fulfillment options that include direct-to-home delivery for patients and bulk shipments to medical facilities.
Chicago Atlantic said it views the company as positioned for continued growth, citing macro tailwinds such as an aging population and the company’s approach to simplifying care delivery. Ocular Science and OSRX said the financing strengthens operational flexibility and supports ongoing service for physicians and patients.
Chicago Atlantic is a private market lender focused on areas where capital demand exceeds traditional supply, including esoteric industries, specialty asset-based lending, liquidity solutions, and growth and technology finance. The firm said it has closed more than $3.2 billion in credit facilities since inception and operates with a team of more than 95 professionals across offices in Chicago, Miami, New York, and London. Ocular Science is headquartered in El Segundo, California, and OSRX operates as an FDA-registered 503B outsourcing facility based in Montana and licensed nationwide.
KEY QUOTES:
“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. 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.”
Dino Colonna, Partner, Chicago Atlantic
“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. 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.”
Anthony Sampietro, Founder, President and CEO, Ocular Science and OSRX
