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Avedro secures $42 million in funding, opens manufacturing facility

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Avedro has secured $42 million in equity and debt financing to commercially expand and develop its product pipeline, the company announced in a press release.

Led by HealthQuest Capital, the equity financing also had investments from OrbiMed Advisors and InterWest Partners, while the debt financing is with an affiliate of OrbiMed, the release said.

The company also announced it has opened a manufacturing facility in Burlington, Massachusetts.

“This infusion of capital combined with the opening of our new manufacturing facility will allow us to ensure availability of our commercial devices while expanding our pipeline and clinical development programs,” Reza Zadno, CEO of Avedro, said in the release.

The new facility will increase Avedro’s production volume of its corneal cross-linking technologies, including the Mosaic and KXL systems.