Avedro Completes $43M Series D Financing

Avedro, Inc., a Waltham, Massachusetts-based medical device and pharmaceutical company, completed a $43m Series D financing.

The round was led by Abingworth, with a significant investment by Third Point and participation from Prism Venture Works, De Novo Ventures, Flagship Ventures, Aperture Ventures, SCP Vitalife Partners, Borealis Ventures and Echelon Ventures.
In conjunction with the funding, David Mayer from Abingworth and Jason Hong, PhD, from Third Point will be joining the Board of Directors.

The company intends to use the financing to execute on both their global commercialization strategy and their US FDA approval strategy.

Led by CEO David Muller, PhD, Avedro focuses on corneal crosslinking with products used to treat several pathologies as well as to improve Lasik procedure outcomes in a procedure known as Lasik Xtra®.
The company is preparing to launch a new device platform, which is currently being used in three Phase III clinical studies in the US involving over 100 sites. Outside the US, Avedro has obtained CE Mark for its KXL System® and its family of riboflavin products.



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