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Avedro lands $25 million financing round
Avedro announced in a press release it has received a commitment of $25 million in financing led by Lilly Asia Ventures, with participation from existing investors OrbiMed Advisors, InterWest Partners and HealthQuest Capital.
“This new funding brings together an exceptional syndicate of investors who are committed to helping us achieve [our] goal,” Reza Zadno, PhD, CEO of Avedro, said in the release. “It will allow us to accelerate adoption of the only FDA-approved cross-linking treatment and the development of our next-generation corneal remodeling applications.”
As part of the financing, Hongbo Lu, PhD, was added to the Avedro board of directors.
Avedro plans to use the funding to invest in product development, clinical studies and commercial efforts, which includes sales and reimbursement support expansion.