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Avalanche Biotechnologies raises nearly $5.7 million for its treatment for age-related macular degeneration.

Avalanche Biotechnologies raises $5.7M for eye drug/device combo

Avalanche Biotechnologies said it raised nearly $5.7 million of a hoped-for $6.1 million equity round for the age-related macular degeneration treatment it's developing.

The Avalanche technology is a drug-delivery system designed to trigger the production of a therapeutic protein by the body's own cells, creating what the company calls a "Bio-Factory" in the patient's eye, according to its website.

The funding came from 16 unnamed investors, according to a regulatory filing.

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