Avedro acquires cross-linking business
Avedro has acquired the business assets of IROC Innocross AG, expanding its portfolio of corneal cross-linking devices and riboflavin brands.
Based in Switzerland, IROC Innocross was the first company to market a cross-linking device for treating keratoconus and other corneal pathologies, according to Avedro. IROC has sold its UV-X devices to more than 1,000 ophthalmologists giving it the largest installed base of cross-linking devices in the world.
The acquisition of IROC's UV-X devices broadens Avedro's cross-linking product platform to include the entire spectrum of corneal cross-linking procedures, and across all price points. Avedro's KXL system and single-dose pharmacologics are currently undergoing phase 3 clinical trials at more than 100 sites in the United States.
"I'm convinced that by combining the IROC Innocross assets with Avedro's outstanding scientific and commercial resources, Avedro will accelerate the development and commercialization of new drugs and devices, increasing Avedro's overall business in a dramatically expanding corneal cross-linking market," said Michael Mrochen, IROC Innocross founder and CEO. "I very much look forward to joining Avedro's Medical Advisory Board and continuing to contribute to the science and technology of corneal cross-linking along with the Avedro team as we pursue the development of new and exciting applications in the treatment of refractive errors of the eye."
Avedro will continue to work with IROC Innocross suppliers MDP Solutions in Switzerland and Solnovis in Germany to guarantee product supply and development. The company currently markets its products in 62 countries.
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