Mati Therapeutics is an Austin, Texas ophthalmic company developing a non-invasive sustained drug delivery platform for eye disease. Its Evolute punctal plug delivery system is a small, cosmetically invisible device placed in the tear duct that releases medication continuously over an extended period, removing the need for patients or caregivers to administer eye drops. The platform is compatible with multiple classes of molecules, and the company has advanced programs in post-surgical pain and inflammation, glaucoma, allergic conjunctivitis and dry eye. The founding team came from senior roles at Allergan, AMO, Abbott Laboratories and QLT.