Avedro, Inc. (NASDAQ: AVDR) was founded in November 2002, formerly known as ThermalVision, Inc., and changed to its current name in October 2005. It is headquartered in Waltham, Massachusetts, USA, and employs 122 full-time employees (12/31/ 2018), is a leading commercial-stage ophthalmic medical technology company, focusing on treating corneal dilatation and improving vision to reduce dependence on glasses or contact lenses.
Avedro, Inc. (AVDR):
Avedro’s proprietary Avedro Corneal Remodeling Platform (Avedro Corneal Remodeling Platform) is designed to use corneal cross-linking to strengthen, stabilize and reshape the cornea in minimally invasive and non-invasive outpatient surgery to treat corneal ectasia and maintain correct flexion. The light state prevents the light from focusing on the retina, causing blurred vision.
Avedro, Inc.’s Avedro corneal remodeling platform consists of the company’s KXL and Mosaic systems, each of which provides ultraviolet A or UVA light, and a set of proprietary disposable riboflavin drug formulations, when they are applied to the cornea together At times, biochemical reactions can be induced, which is called corneal collagen crosslinking, or corneal crosslinking.
Avedro’s KXL system, combined with its Photrexa drug formulation launched in the United States in September 2016, is the first and only microbial product approved by the U.S. Food and Drug Administration (FDA) for the treatment of cones after progressive refractive surgery Corneal and corneal ectasia.
In addition, the FDA granted the company the name of an orphan drug, and Avedro has the orphan drug franchise until 2023, covering the Photrexa formula used in its KXL system for approved indications.
Avedro, Inc. has applied for and obtained the Conformité Européene (CE) mark for the company’s Mosaic system, which allows it to be sold throughout the European Union. The Mosaic system can perform vision correction procedures and treat corneal dilatation. The company began to release it internationally at the end of 2017. Avedro plans to seek FDA approval for its Mosaic system and related pharmaceutical formulations for the treatment of presbyopia.
Avedro, Inc. has invested heavily in establishing the safety and extensive clinical applications of the Avedro corneal remodeling platform and promoting its commercial application. The company is the only company to conduct randomized, sham-controlled clinical trials to obtain market approval for corneal cross-linking solutions.
Avedro, Inc. has conducted and supported more than 15 clinical trials and has published more than 130 peer-reviewed publications that support the company’s perception of the advantages of the Avedro corneal remodeling platform.
To date, Avedro, Inc.’s products have implemented more than 400,000 cross-cutting procedures worldwide, including more than 18,000 procedures in the United States.
Avedro, Inc. (AVDR) investment:
Avedro, Inc. (NASDAQ:AVDR) submitted its IPO prospectus on 1/18/2019, and listed on Nasdaq on 2/14/2019 IPO. The issue price is US$14.00, 5 million shares are issued, and the fundraising does not exceed US$70 million. , BofA Merrill Lynch/ JP Morgan underwriting.