Nerve-on-a-chip developer Axosim has raised $1.1 million in a new round of equity financing, according to recently posted SEC filings.
The New Orleans-based company is developing nerve-on-a-chip technology intended to mimi living tissue in both form and function.
Axosim’s technology allows researchers to perform “clinically relevant nerve conduction tests to measure changes in electrophysiological properties” and to “perform histology to correlate structural changes to functional metrics” to analyze mechanisms of action, according to the company’s website.
Money in the round came from 13 unnamed investors, with the first date of sale noted as having occurred on February 19.
The company is looking to raise an additional approximately $1.4 million in the round, which would bring the total raised to $2.5 million, according to the SEC filing.