Medical device company Avedro finished up a $43 million Series D financing round this week with the help of a pair of new investors, venture capital shops Third Point and Abingworth.
To tie the knot, Avedro is bringing on 2 new board members from its latest backers, Abingworth’s David Maye and Jason Hong of Third Point.
Avedro’s products are used primarily in support of Lasik laser eye surgery. The company is currently wrapping up Phase III clinical trials. Currently, none of the company’s products are for sale in the U.S.
"Avedro is pleased to welcome Abingworth and Third Point as new investors to Avedro. Proceeds from this financing will allow us to execute on both our global commercialization strategy and our US FDA approval strategy," CEO David Muller said in prepared remarks.
Avedro’s existing investors include Prism Venture Works, De Novo, Flagship, Aperture, SCP Vitalife Partners, Borealis, and Echelon. The Lasik procedure represents a large market for Avedro, for which its products were used in 50,000 procedures last year. The company also recently licensed EyeGate Pharma’s iontophoresis patents for corneal cross-linking.
