TLDR:
Key Points:
- Avava, a skincare firm based in Waltham, Mass., secured $10 million in growth capital from Catalio Capital Management.
- Catalio’s funding of Avava comes from its Structured Opportunities Fund and will be used to expand Avava’s FDA-approved laser technology called Miria.
Catalio Invests $10 Million in Skincare Firm Avava
Avava, a skincare company based in Waltham, Mass., has recently closed a $25 million Series C funding round led by South Korea’s Jeisy Medical, with an additional $10 million in growth capital from Catalio Capital Management.
The New York-based Catalio, spun out of investment firm Camden Partners in 2020 by George Petrocheilos and R. Jacob Vogelstein, focuses on healthcare and life sciences investments. The firm is known for its partnership with notable organizations like KKR.
Catalio’s investment in Avava will help the skincare company further develop its FDA-approved laser technology known as Miria. Avava plans to use the funds to expand its commercial reach and offer the high-energy device to a wider audience, treating all skin tones.
Avava CEO, Dr. Irina Erenburg, expressed excitement about the partnership with Catalio and the funding received, emphasizing the company’s mission to revolutionize the aesthetics industry. Miria, developed by a trio of experts, is set to launch in South Korea and Japan, showcasing the company’s commitment to global expansion.
