Funding

Avedro raises $32M

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What does Avedro do?

Avedro, is a pharmaceutical and medical device company which is advancing science and technology of corneal cross linking. The company has recently finished its America based multi-centres Phase III studies of corneal cross linking for the treatment of corneal ectasia and keratoconus after refractive surgery. Outside USA, the company has commercialized both KXL System and VibeX for performing Lasik Xtra and accelerated cross linking. Additionally, the company is developing the science of Thermo biomechanics for medical applications. Keraflex refractive correction procedure is the 1st technology developed from the platform of thermo-biomechanics and it is a incision less ophthalmic procedure which is non-invasive to flatten the cornea without removing tissue. Keraflex provides a unique ability for inducing a refractive change without weakening the biomechanical integrity or cornea, as it happens with refractive correction procedures such as Lasix. Keraflex is commercially available out of USA.

How much Avedro was funded?

Avedro raised $32M in Series E on November 13th, 2015 from OrbiMed Advisors and InterWest Partners.

Previous funding

  • $10M in undisclosed round on April 29, 2009
  • $6.3M in undisclosed round on January 6, 2011
  • $13M in undisclosed round on May 9, 2011
  • $25M in Series C on July 7, 2011 from SCP Vitalife Partners and Aperture Venture Partners
  • $500k in undisclosed round on February 21, 2012 from SCP Vitalife Partners and Carl Johnson
  • $43M in Series D on March 5, 2013 from Flagship Ventures, Prism Venture Management, Echelon Ventures,Third Point Ventures, Aperture Venture Partners, DeNovo Ventures, SCP Vitalife Partners and Borealis Ventures
  • $13.69M in Debt Financing on April 8, 2015

 

What is next for Avedro?

Avedro’s latest funding strengthens its balance sheet while it continues the expansion of global distribution of its KXL corneal cross linking platform and for commencing the commercialization out of U.S. of its Mosaic System.

 

More about Avedro

Avedro was founded in 2007 by David Muller. It has its headquarters in Waltham, MA. It is a private medical device and pharmaceutical device company.

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