Funding: AxioMed Spine raises $3.6M

January 11, 2013 by MassDevice staff

Ohio-based spinal orthopedics maker AxioMed Spine says it has completed a new round of financing, raising $3.6 million.

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Medical device company AxioMed Spine Corp., has raised $3.6 million from current and new investors.

The Ohio-based spinal orthopedics company's devices focus on restoring spinal function to treat degenerative spine diseasea,according to a press release.

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The company’s Freedom lumbar disc replacement and cervical disc received CE Mark approval for sale in the European Union.

AxioMed Spine in 2010 raised $14.5 million in Series D funding to help the company finish enrolling patients for a pivotal U.S. clinical study of its lumbar disc replacement and earn CE Mark approval for its cervical disc in Europe.

AxioMed Spine is seeking FDA regulatory approval for its Freedom technology, according to the press release.

AxioMed received a $750,000 Innovation Ohio Loan from the Ohio Third Frontier Project in late 2007 to help expand (pdf) its testing and manufacturing floor.