Avedro
Avedro is a medical device and pharmaceutical company developing corneal cross-linking systems and riboflavin formulations to treat keratoconus and eye infections, serving ophthalmologists and corneal surgeons globally as a subsidiary of Glaukos Corporation.
- Company typePrivate
- Founded2007
- HeadquartersWaltham, United States
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Avedro does
Avedro is a medical device and pharmaceutical company specializing in corneal cross-linking technology for the treatment of keratoconus, corneal ectasia, and infectious eye diseases. The company's core technology platform combines targeted illumination systems with proprietary riboflavin photosensitizing formulations to strengthen corneal tissue. Its product portfolio centers on the Mosaic System (commercialized internationally outside the US), the KXL System (now positioned within the Glaukos cornea franchise), and a riboflavin family of consumable formulations used in cross-linking procedures.
The business model operates on two revenue streams: hardware sales of cross-linking systems to ophthalmic surgery centers and recurring pharmaceutical revenue from riboflavin formulations and photosensitizing agents sold as procedure consumables. Avedro serves a horizontal customer base of ophthalmologists and corneal specialists across the US, Canada, Brazil, the UK, France, Germany, Spain, Japan, Australia, and New Zealand, distributing through direct field sales teams targeting surgical centers and hospitals.
Avedro raised approximately $195 million across multiple venture rounds from 2008 to 2018, including a $32 million Series 3 in 2015 led by InterWest Partners and OrbiMed and a $42 million round in 2017 led by HealthQuest Capital. The company was acquired by Glaukos Corporation and now operates as 'Avedro, a Glaukos company,' with the KXL system retained as a registered trademark. FDA approval of Epioxa under the Glaukos franchise has unlocked the US keratoconus market, and a pending patent (AU2025267408A1) signals platform extension into bacterial, amoebic, and fungal keratitis and blepharitis.
Avedro firmographics
Firmographics- Name
- Avedro
- Legal name
- Avedro
- Website
- https://avedro.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Acquired
- Headcount range
- 101–250 employees
- Short description
- Avedro is a medical device and pharmaceutical company developing corneal cross-linking systems and riboflavin formulations to treat keratoconus and eye infections, serving ophthalmologists and corneal surgeons globally as a subsidiary of Glaukos Corporation.
- Ownership category
- akta.pro rank
Avedro industry classification
Industry- Product category
- Ophthalmic Medical Devices
- NAICS
- Surgical and Medical Instrument Manufacturing (339112), Navigational, Measuring, Electromedical, and Control Instruments Manufacturing (3345)
- SIC
- Surgical & Medical Instruments & Apparatus (3841), Ophthalmic Goods (3851)
- akta.pro primary industry
- Cornea & External Disease Surgical Devices (Keratoplasty Tools, Cross-Linking Systems, Amniotic Membrane Delivery) (HLAHAJAK)
- akta.pro secondary industries
- Cornea, External Disease & Refractive Surgery (LASIK/PRK) (HLAKAKAF), Refractive Surgery Systems (Excimer/Femtosecond Lasers, Phakic IOL Systems, Wavefront/Guidance) (HLAHAJAG)
Keywords
Where Avedro is headquartered
LocationHeadquarters
- HQ city
- Waltham
- HQ country
- United States
- HQ region
- North America
Markets served
Avedro business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Supply Chain
Revenue model
- Medical Device Sales: Sale of corneal cross-linking systems and related consumables for ophthalmic surgical procedures.
- Pharmaceutical/ Therapeutic Products: Revenue from riboflavin formulations and photosensitizing agents used in cross-linking procedures.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
Avedro product offering
Product offeringCore offering
Avedro develops and commercializes proprietary corneal cross-linking medical device systems and proprietary riboflavin (photosensitizing agent) pharmaceutical formulations. Its products are used by ophthalmologists and corneal specialists to treat progressive keratoconus, corneal ectasia, and certain corneal infectious disease conditions, combining a hardware platform (Mosaic/KXL) with companion riboflavin drug products.
Product overview
Avedro, a Glaukos company, develops and commercializes corneal cross-linking technologies for the treatment of ophthalmic diseases, particularly keratoconus. The company's product portfolio includes the Mosaic System and KXL System, which employ targeted illumination and photosensitizing agents to strengthen corneal tissue through cross-linking procedures.
Differentiator
Problem solved
Functional benefit
Brands
- Mosaic System: Corneal cross-linking system for treatment outside the US market
- KXL System
Products and services
- Mosaic System
- KXL System
- Riboflavin Family (Photrexa / VibeX formulations)
Companies that use Avedro
Customer profileSegments1 record
Ideal customer profiles1 record
Avedro technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Avedro partnerships and signals
Strategic signalScale indicators2 records
Recent moves6 records
Expansion highlights5 records
Avedro competitors and assessment
Company assessmentBroad incumbents
- Glaukos Corporation: Parent company of Avedro and a leading interventional glaucoma player. Glaukos owns and operates the Avedro cross-linking franchise as part of a broader ophthalmology portfolio spanning cornea, glaucoma, and retina, making it the most relevant incumbent for evaluating the strategic and commercial context of Avedro's business.
- Carl Zeiss Meditec: Global ophthalmic device leader offering refractive surgery lasers, diagnostic imaging, and surgical microscopy used in corneal and refractive procedures. Comparable to Avedro as a broad incumbent in ophthalmic surgical platforms where corneal cross-linking is performed.
- Alcon: One of the largest global ophthalmic device and pharmaceutical companies with a portfolio spanning cataract surgery, vitreoretinal surgery, refractive surgery (including LASIK platforms), and pharmaceutical eye care. Alcon overlaps with Avedro's refractive and surgical ophthalmology footprint.
- Bausch + Lomb: Major ophthalmic medical device and pharmaceutical company with products across cataract, refractive, and retinal surgery as well as consumer eye health. Comparable as a broad incumbent in the ophthalmic surgical and pharmaceutical space where Avedro's cross-linking franchise competes.
- Johnson & Johnson Vision: Division of Johnson & Johnson operating in cataract surgery, refractive surgery (LASIK/SMILE platforms), and contact lens markets. Comparable as a broad incumbent in refractive and corneal surgical workflows where cross-linking is used adjunctively.
- Topcon Healthcare: Developer of ophthalmic diagnostic imaging, refractive surgery systems, and practice management solutions. Topcon's refractive surgery platforms overlap with the surgical ophthalmology workflows where Avedro's cross-linking systems are deployed.
Emerging players
- OCULUS Optikgeräte: German manufacturer of ophthalmic diagnostic devices including corneal topography, tomography, and Pentacam systems used for keratoconus diagnosis and cross-linking planning. Comparable as a niche ophthalmic device specialist serving cornea/refractive workflows.
- Sooft Italia: Italian ophthalmic pharmaceutical company with riboflavin-based formulations (e.g., Ricrolin) used in corneal cross-linking procedures. Comparable as a direct participant in the riboflavin consumable segment of the same cross-linking market.
- Epion Therapeutics: Developer of transepithelial corneal cross-linking technology (Epion EpiSmart) targeting keratoconus and related corneal disorders. Comparable as an emerging direct competitor in the corneal cross-linking category Avedro pioneered.
- CXL Ophthalmics: Specialty developer of corneal cross-linking technology for the treatment of keratoconus and infectious keratitis. Comparable as an emerging player in the same corneal cross-linking category with overlapping therapeutic focus on keratoconus and infectious keratitis.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Avedro social profiles
Digital presenceAvedro financial estimates
Financial estimateRevenue estimate
Valuation estimate
Avedro leadership team
Management profileNumber of profiles
Profiles4 records
Avedro funding detail
Funding detailFunding overview
Funding rounds13 records
Investors15 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Avedro M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Avedro
What does Avedro do?
Avedro develops and commercializes proprietary corneal cross-linking medical device systems and proprietary riboflavin (photosensitizing agent) pharmaceutical formulations. Its products are used by ophthalmologists and corneal specialists to treat progressive keratoconus, corneal ectasia, and certain corneal infectious disease conditions, combining a hardware platform (Mosaic/KXL) with companion riboflavin drug products.
Is Avedro a public or private company?
Avedro is a private company. It is classified as corporate owned and is currently acquired.
When was Avedro founded?
Avedro was founded in 2007. It employs 101 to 250 people.
Where is Avedro based?
Avedro is headquartered in Waltham, United States, in the North America region.
How does Avedro make money?
Two revenue lines are on record. Medical Device Sales are the primary driver. The others are pharmaceutical/ Therapeutic Products.
Who are Avedro's main competitors?
Broad incumbents on record are Glaukos Corporation, Carl Zeiss Meditec, Alcon, Bausch + Lomb, Johnson & Johnson Vision and Topcon Healthcare. Emerging players are OCULUS Optikgeräte, Sooft Italia, Epion Therapeutics and CXL Ophthalmics.
Does Avedro have an API?
No public API is recorded for Avedro.
What industry is Avedro in?
Avedro's product category is Ophthalmic Medical Devices. Its primary akta.pro industry code is HLAHAJAK, Cornea & External Disease Surgical Devices (Keratoplasty Tools, Cross-Linking Systems, Amniotic Membrane Delivery), with a secondary code of HLAKAKAF, Cornea, External Disease & Refractive Surgery (LASIK/PRK). Its NAICS code is 339112 and its SIC code is 3841.