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Mati Therapeutics

Tear duct plugs that release eye medication over time

Raised to date

$2.6M

of $4.9M offered across 1 Form D filing

Still open
$2.2M
Investors
2
Last filed
Jul 2, 2026

About

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.

A drug-agnostic punctal plug that replaces daily eye drops with hands-free sustained release, attacking the compliance problem that limits outcomes in glaucoma and post-surgical care, backed by a dedicated in-house manufacturing facility for all PPDS products.

Funding

  • EquityFiled Jul 2, 2026Form D/A
    $2.6M/ $4.9M

Product

Evolute Punctal Plug Delivery System (PPDS)

Ophthalmic drug-device combination platform

A small punctal plug inserted into the tear duct that elutes ocular medication steadily over an extended period, delivering therapy without drops and serving as a platform compatible with different types of molecules.

  • Non-invasive placement in the punctum, no surgery required
  • Small, comfortable and cosmetically invisible in the eye
  • Automatic sustained release of medication over an extended period

Built for

Ophthalmologists and eye-care providers treating glaucoma, post-cataract-surgery patients, allergic conjunctivitis and dry eye, and the pharmaceutical partners who would commercialize sustained-release versions of ocular drugs

People on file