Avedro Completes New $32M Round

InterWest Partners and OrbiMed lead new round of financing focused on global corneal cross-linking opportunity.

Avedro is a privately held medical device and pharmaceutical company advancing the science and technology of corneal cross-linking. Today, more than 100,000 eyes around the world have been treated with Avedro’s KXL® System for Accelerated Cross-Linking.

Over the past two years, Avedro’s Lasik Xtra® procedure and KXL System have positively impacted hundreds of practices worldwide. With the upcoming introduction of the Mosaic™ System and the Photorefractive Intrastromal Cross-Linking (PiXL™) procedure, Avedro will offer ophthalmologists an entirely new, non-invasive way for performing refractive correction.

More than two decades ago, as the founder and CEO of Summit Technology, David Muller, PhD, pioneered the use of excimer lasers for performing today’s laser vision correction surgery. Summit Technology became the worldwide leader in development and sales of excimer lasers for refractive correction and was acquired by Alcon for $948 million.

In 2007, Dr. Muller founded Avedro to continue developing advanced technologies for ophthalmic applications. Many key members of the team who worked with Dr. Muller to introduce excimer lasers are now part of Avedro’s senior management team working with him to redefine refractive correction and corneal cross-linking.

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