SAN DIEGO—Tear Film Innovations Inc. (TFI) has completed a $8.5 million Series B Preferred Stock funding round led by Visionary Ventures Fund and Bluestem Capital, according to an announcement Tuesday. TFI manufactures the iLux system, which the firm describes as “a break-through device for the treatment of evaporative dry eye and related syndromes,” including Meibomian Gland Dysfunction (MGD). The FDA issued 510k clearance to the iLux system in December 2017, according to Tuesday’s announcement. The device enables eyecare professionals to provide targeted therapy to blocked meibomian glands through an in-office treatment.

The dry eye therapy was showcased this month to optometrists at the 2018 Vision Source Exchange meeting.

Rob Thornhill, chief executive of TFI, said the funding round completes the capitalization for the company’s growth strategy. “We are currently making key hires to meet the significant market demand for our iLux system,” he said in the announcement. “We appreciate the ongoing support from Visionary Ventures, the significant investment by Bluestem Capital and the continued participation of our early investors.”

“The early, enthusiastic response to the iLux system from both the ophthalmic and optometric sectors is very encouraging,” Richard Lindstrom, MD, of Minnesota Eye Consultants and a member of the Visionary Ventures Fund investment team, said in the announcement. “Dry eye continues to dominate the clinical and commercial landscape in eyecare and we are confident the iLux device will play a significant role moving forward.”

TFI completed a $9 million Series A funding round, also led by Visionary Ventures, in November 2017, as VMAIL reported.