TearScience, Inc., has received the Southeast Deal of the Year Venture Capital Transaction Award from Southeast BIO (SEBIO), a nonprofit organization that fosters the growth of the life sciences industry in the region.

The privately held medical device company was recognized for having raised $44.5 million in Series C financing in May.

Investors in the round included Essex Woodlands Health Ventures, Investor Growth Capital, General Catalyst, De Novo Ventures, Spray Ventures and Quaker BioVentures.

“TearScience’s funding was the largest med tech venture capital funding in North Carolina and in the Southeast in 2010,” said Cindy Clark, president of ibiliti, the new Center of Innovation for North Carolina’s advanced medical technologies industry.

TearScience has pioneered treatment for evaporative dry eye, the most common form of dry eye disease.