Avedro Inc. landed $25 million in a series C financing round, company officials announced yesterday.
The Waltham, Mass.-based company will use the funds to expand its commercial operations overseas.
Avedro, a private company, also plans to pursue U.S. Food and Drug Administration clearance for its Vedera cornea flattening treatment, designed to treat near-sightedness, and its KXL corneal cross-linking system.
The KXL system won CE Mark approval in the European Union in November 2010.
Check out the MassDevice podcast with Avedro Inc. CEO David Muller from December 2010.
Funding was led by SCP Vitalife and followed by Aperture Venture Partners who joined by existing investors Prism VentureWorks, De Novo Ventures, Flagship Ventures, Borealis Ventures and Echelon Ventures, according to the release.
As part of the round Jeff Dykan of SCP Vitalife will join Avedro’s board of directors, and Eric Sillman of Aperture Venture Partners comes on as a board observer.
Here’s a roundup of other dealflow and investment news:
- Cardiovascular Systems announced $3.5 million loan agreement
Cardiovascular Systems Inc. (NSDQ:CSII) announced that it issued a senior convertible promissory to the tune of $3.5 million to Partners for Growth III in exchange for a loan of the same amount pursuant to an agreement made between the companies in April 2010.
- Optical biopsy company closes $2.5 million funding round
Precision Biopsy, a Boston-based cancer diagnostics company, announced the official close of a $2.5 million round. The funds will go toward product development and preparation market introduction.
- SpineVision touts $5 million
SpineVision announced that it raised $5 million, which will go primarily toward acceleration market penetration of the Paris-based company’s minimally invasive motion-preservation spinal therapies.
"We now have a focused and streamlined international operation that is steadfastly penetrating the market," said Gérard Hascoët, chairman & CEO of SpineVision.
- CareFusion lands $550 million credit facility
CareFusion Corp. (NYSE:CFN) arranged a $550 million unsecured revolving credit facility with JPMorgan Chase Bank this week. The credit has a five-year term and allows the San Diego-based company to request up to $200 million more under certain conditions.