Closely-held Tear Film Innovations completed an $8.5-million Series B preferred stock round led by Visionary Ventures Fund and Bluestem Capital.
“This successful funding round completes the capitalization for our growth strategy,” Tear Film CEO, Rob Thornhill, said in a statement, adding that the company is currently making key hires to meet significant market demand for its iLux system.
The iLux system received 510k clearance from the FDA in December 2017. The device enables eye care professionals to provide targeted therapy to blocked meibomian glands through an in-office treatment.
“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,” said Dr. Richard Lindstrom, a member of the Visionary Ventures investment team.
