Eli Lilly eyes Avedro in $25m round

May 4, 2018 • Robert Lavine

Corneal remodelling system developer Avedro boosted its total funding to more than $220m with a round led by Lilly Asia Ventures.

Lilly Asia Ventures, a corporate venturing subsidiary of pharmaceutical firm Eli Lilly, led a $25m financing round for US-based corneal remodelling technology developer Avedro on Wednesday.

Healthcare investment firm OrbiMed Advisors, venture capital firm InterWest Partners and VC fund HealthQuest Capital also invested in the round. Lilly Asia Ventures partner Hongbo Lu is joining Avedro’s board of directors in conjunction with its investment.

Avedro has developed a system that uses a combination of drug formulations and medical devices for corneal…

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