iStar Medical said it landed about $5.4 million (€4 million) from a Series A funding round it plans to use to support its StarFlo ophthalmic implant.
The StarFlo device is designed to treat glaucoma by helping the eye drain excess fluid using iStar Medical’s Star biomaterial.
Isnes, Belgium-based iStar said it plans to use the proceeds for more clinical studies, regulatory submission and clearance in the U.S. and to support its research & development pipeline. iStar is a spinout of Healionics Corp.
The round was led by Belgian venture capital funds Capricorn Health-Tech Fund NV and Societe Regionale d’Investissement de Wallonie, alongside Financière Spin-off Luxembourgeoise and Namur Invest-Preface.
“This funding is a solid validation of the Star biomaterial technology platform and the dedicated team that introduced our first product, StarFlo, to the glaucoma community. I look forward to advancing iStar together with our new finance partners and strong board members as we bring promising new options to glaucoma surgeons and their patients,” founder & CEO Michel Alvarez said in prepared remarks.
