Eye-care focused device developer Tear Film Innovations said today it closed an $8.5 million Series B to support its flagship iLux system designed to treat blocked meibomian glands in eyelids.
The iLux system is currently under investigational device review by the FDA, and is designed to allow for the in-office treatment of blocked meibomian glands through targeted heating and compression of affected eyelids, the company said.
The round was led by Visionary Ventures Fund and BlueStem Capital, the San Diego-based company said.
“The early, enthusiastic response to the iLux system from both the ophthalmic and optometric sectors is very encouraging. Dry eye continues to dominate the clinical and commercial landscape in eye care and we are confident the iLux device will play a significant role moving forward,” Visionary Ventures Fund investment team member Dr. Richard Lindstrom said in prepared remarks.
“We continue to see the value in TFI and fully support the company’s leadership team in bringing this important dry eye treatment option to the eye care market,” Visionary Ventures Fund managing partner Jeffry Weinhuff said in a press release.
“This successful funding round completes the capitalization for our growth strategy. We are currently making key hires to meet the significant market demand for our iLux system. We appreciate the ongoing support from Visionary Ventures, the significant investment by Bluestem Capital and the continued participation of our early investors,” TFI CEO Rob Thornhill said in a prepared statement.
Last November, Tear Film Innovations said it closed a $9 million Series A preferred stock round.