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Monday, May 9, 2011

Laser vision firm Avedro bumps funding to $13M

By Michelle Lang

Avedro Inc., a laser vision technology company in Waltham, has raised $13.3 million of a planned $15.5 million financing, according to a regulatory filing. The filing is the company’s second amendment to the financing, which in July 2010 called for a planned $5 million funding, followed by a filing in January to raise that amount to $8 million.

Avedro is a developer of microwave-based surgery procedures intended to treat myopia without using surgical vision correction. The company was founded by David Muller, current president and CEO of Avedro, who previously founded and led Summit Technology Inc., the original developer of Lasik technology.

The amended funding to raise $15.5 million lists the same related persons as those listed in previous filings, including company directors Philip Ferneau of Borealis Ventures, Anthony Natale of Prism VentureWorks, De Novo Ventures’ Joseph Mandato, M. Carl Johnson III of Campbell Soup Company and Flagship Ventures’ Doug Cole, as well as Avedro CFO Rhonda Bracey.

In January, the company had brought in $6.3 million of the $8 million securities offering of equity, debt, warrants and convertible notes.

Avedro was founded in 2008, based on 2002 technology from Dartmouth College associate engineering professor B. Stuart Trembly.

 

 

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