What Olympic Ophthalmics does

Olympic Ophthalmics is a privately held medical device company founded in 2017 and headquartered in Issaquah, Washington, that develops the iTEAR100, an FDA-cleared, prescription-only, at-home neurostimulation device indicated for temporarily increasing tear production in adults with dry eye disease. The device uses patented focused oscillatory energy applied externally to the nose to activate the external nasal nerve, prompting natural tear production in approximately 30 seconds per use, and is positioned as a drug-free, drop-free alternative to artificial tears and pharmacologic dry eye therapies. The original iTEAR100 received FDA 510(k) clearance in May 2020, with a next-generation device (Generation 2) cleared in March 2022; the company also secured two seminal neuromodulation patents in April 2021.

The business model is built around one-time device sales distributed primarily through a direct-to-consumer e-commerce store (itear100.store), with patients obtaining prescriptions either from their own eyecare providers or via a company-arranged telehealth service. Pricing is not publicly disclosed and insurance coverage is generally unavailable, though HSA/FSA funds can be used; the device is engineered to deactivate after a 30-day prescription cycle, requiring re-prescription for reactivation, which creates recurring touchpoints with providers. For international markets, Olympic Ophthalmics executed an exclusive licensing agreement with Arctic Vision (June 2021) covering Greater China, South Korea, and ASEAN countries, providing a non-infrastructure route into APAC commercialization. The company operates with 1-10 employees and has not disclosed revenue or funding totals.

Name

Olympic Ophthalmics

Legal name

Olympic Opthalmics, Inc

Website

https://olympicophthalmics.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Olympic Ophthalmics is a privately held medical device company that develops the iTEAR100, the only FDA-cleared, prescription-only, at-home neurostimulation device for temporarily increasing tear production in adults with dry eye disease. It sells directly to US consumers via its online store and licenses the technology to Arctic Vision for Greater China, South Korea, and ASEAN markets.

Ownership category

akta.pro rank

Product category

Ophthalmic Medical Devices

NAICS

Electromedical and Electrotherapeutic Apparatus Manufacturing (334510)

SIC

Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Dry Eye & Ocular Surface Devices (Meibography, Tear Osmolarity, IPL, Thermal Pulsation) (HLAHAJAF)

Keywords

• Neurostimulation medical device
• Dry eye treatment
• Neuromodulation technology
• FDA-cleared ophthalmic device
• Prescription tear production

Headquarters

HQ city

Issaquah

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. iTEAR®100 Device Sales: The company sells the iTEAR®100 neurostimulation device. It is a prescription-only medical device that requires a doctor's prescription. The device has a 30-day prescription cycle after which it turns off and requires a new prescription for reactivation. Patients purchase the device through the company's e-commerce store (itear100.store) after obtaining a prescription.

Pricing tiers

Distribution channels4 records

Marketing channels5 records

Core offering

Olympic Ophthalmics manufactures and sells the iTEAR100, an FDA-cleared prescription-only neurostimulation medical device that treats dry eye disease by applying focused oscillatory energy to the external nasal nerve from outside the nose, stimulating natural tear production in approximately 30 seconds per use. The device is dispensed direct-to-patient after prescription (via eyecare provider or company telehealth) through the company's e-commerce store, and includes a 30-day prescription cycle after which the unit deactivates until a new prescription is uploaded.

Product overview

Olympic Ophthalmics offers a single core product: the iTEAR100 (including Generation 2), a patented neurostimulation medical device. The company provides the device through a prescription-based model, supporting telehealth appointments for prescription acquisition and direct-to-consumer purchasing through their online store. The iTEAR100 is supported by clinical trial apps for both iOS and Android platforms, allowing patients to participate in clinical studies and track their treatment progress.

Differentiator

Problem solved

Functional benefit

Brands

• iTEAR®100: FDA-cleared neurostimulation device that increases natural tear production through gentle stimulation of the external nasal nerve. Drug-free, drop-free treatment for dry eye disease.

Products and services

• iTEAR100 (Generation 2) Neurostimulation Device FDA-cleared, prescription-only, at-home neurostimulation medical device that applies focused oscillatory energy to the external nasal nerve from outside the nose to increase natural tear production in approximately 30 seconds per use. Indicated for temporary use (up to 30 days) in adults under prescription; drug-free, drop-free, portable, USB-rechargeable, and reusable with no parts needing replacement.

Quantifiable outcome

• 2-3% of patients reported dizziness or lightheadedness in clinical studies
• +1 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Partnerships

One partnership is on record.

• Arctic VisioncoreOEM/ Whitelabel/ Licensing Partner · 6 June 2021Arctic Vision announced an exclusive licensing agreement with Olympic Ophthalmics for iTEAR®100 for the treatment of dry eye disease. The agreement covers Greater China, South Korea, and ASEAN Countries. Arctic Vision has rights to commercialize the device in these regions.

Scale indicators4 records

Recent moves4 records

Expansion highlights5 records

Broad incumbents

• Alcon: Global ophthalmic leader with a wide dry eye and ocular surface portfolio including Systane (in select markets), prescription drops, and surgical devices. Competes with iTEAR100 indirectly through overlapping patient and prescriber relationships at scale.
• Bausch + Lomb: A broad ophthalmic company with a large dry eye portfolio spanning OTC artificial tears (Systane), prescription therapeutics, and surgical products. It competes across the entire dry eye treatment continuum rather than specializing in iTEAR100's neurostimulation niche.
• AbbVie (Allergan / Restasis, Xiidra): Through Allergan, AbbVie markets Restasis and via Novartis acquired Xiidra, two of the leading prescription pharmaceutical dry eye treatments. They compete for the same patient population with established payer coverage and prescriber relationships, but as drug-based incumbents rather than device-based therapies.

Emerging players

• Kala Bio: Clinical-stage ophthalmic company developing novel therapies for ocular surface diseases, including dry eye. Like Olympic, it is pursuing differentiated mechanisms of action in a dry eye category dominated by incumbents.
• Eyenovia: Ophthalmic therapeutics company developing microdose array print (MAP) therapies for conditions including dry eye. Competes for prescriber mindshare in ophthalmology with a differentiated delivery approach.
• Aldeyra Therapeutics: Biotech developing novel small-molecule therapies for ocular inflammatory conditions, including dry eye disease. Competes for the same patient population via a differentiated mechanism (reactive aldehyde species modulation) rather than neurostimulation.
• Novaliq: Specialty ophthalmic company using water-free EyeSol technology to develop novel dry eye therapies. Targets the same dry eye patient base via a differentiated drug-delivery approach rather than device-based neurostimulation.

Others

• Arctic Vision: China-based ophthalmic company that holds the exclusive license to commercialize iTEAR100 in Greater China, South Korea, and ASEAN. It is both a commercial partner and a peer in the sense that it markets a competing/fellow ophthalmic product portfolio across Asia.

Direct peers

• Oyster Point Pharma (Viatris): Developer of Tyrvaya (varenicline nasal spray), an FDA-approved prescription treatment for dry eye disease that also acts via the nasal pathway. It is the closest mechanism-adjacent competitor to iTEAR100's external nasal nerve stimulation, competing for the same prescriber and patient population.
• Johnson & Johnson Vision (Tear Science / LipiFlow): Acquired by J&J, LipiFlow is an in-office thermal pulsation device for meibomian gland dysfunction / dry eye. It is the most analogous FDA-cleared device-based dry eye treatment to iTEAR100, and Olympic's CEO was previously an early investor/board member of Tear Science, underscoring direct product and category overlap.

Market position

Strengths5 records

Weaknesses6 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@itear100
• LinkedInlinkedin.com/company/olympic-ophthalmics

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Olympic Ophthalmics