Abingworth, Third Point back $43m Avedro Series D


eye-6_sqVenture capital firm Abingworth has led a $43m Series D financing round for eye condition treatment company Avedro.

Third Point also made a “significant” investment in the round according to Avedro, which said Abingworth’s David Mayer and Third Point’s Jason Hong would join its board following the deal.

Existing investors in the company include Prism Venture Works, De Novo Ventures, Flagship Ventures, Aperture Ventures and SCP Vitalife Partners.

Mayer said, “The Avedro team has successfully accomplished the development of breakthrough devices and drugs with exciting therapeutic applications in the ophthalmic space.

“The demand for those products is apparent by their successful commercial launch into 32 countries outside the United States.”

Avedro CEO David Muller said proceeds from the financing round would be used for global commercialisation and gaining US FDA approval.

He said, “In addition Avedro plans to use proceeds from this financing to continue its aggressive research and development efforts.

“These are aimed at expanding the use of corneal crosslinking into applications such as cataract and refractive surgery which represent billion dollar market opportunities.”

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