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MCAL Therapeutics

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Rocket Ship Rating: 23 out of 100

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Record updated 1 October 2026

About

MCAL Therapeutics is developing a novel synthetic lipid platform for evaporative dry eye and other ocular surface disorders. Its lead program is designed to restore and stabilize the tear-film lipid barrier, addressing a fundamental cause of tear evaporation. OphthaFund’s relationship with MCAL began before the fund was formed, when co-founder Thomas R. Mather, MD, became an early investor. OphthaFund subsequently invested and continued its support. Our investment rationale includes the differentiated technology, a substantial unmet need in evaporative dry eye, and a leadership team with experience developing and bringing Xiidra to market. Dr. Mather serves as Chief Medical Officer and a board member.

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