Avedro has developed Corneal Remodeling Platform that strengthens, stabilizes and reshapes the cornea utilizing corneal cross-linking in minimally invasive and non-invasive outpatient procedures to treat corneal ectatic disorders and correct refractive conditions.
Glaukos Corporation, an ophthalmic medical technology and pharmaceutical company focused on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases, today announced that it has completed its previously announced acquisition of Avedro.
“Today marks an important day for Glaukos as Avedro will serve as the cornerstone of our new corneal health franchise,” said Thomas Burns, Glaukos president and chief executive officer. “This transaction pairs two highly complementary, hybrid pharma and device organizations, combining Avedro’s novel bio-activated pharmaceutical solutions and R&D capabilities with Glaukos’ global commercial scale, proven market-building and shared reimbursement expertise, and extensive clinical and regulatory infrastructure. We’re excited to welcome the talented Avedro employees to the Glaukos organization to help build upon our solid foundation to transform Glaukos into a global ophthalmic pharmaceutical and device leader capable of serving the vision care needs of physicians and their patients for years to come.”
As a result of the acquisition’s close, Avedro’s common stock will now cease to trade on the Nasdaq.
Source: Company Press Release