Spinal device developer Axiomed has raised $1 million in a new round of equity financing, according to an SEC filing posted this week.
The Malden, Mass.-based company produces the Freedom cervical disc and Freedom lumbar disc.
The Freedom cervical and lumbar discs are designed to be one-piece total disc replacement devices which enable neck pain relief and restore normal spinal function for patients with degenerative disc disorder.
Money in the round came from 3 anonymous investors, according to an SEC filing.
Axiomed is looking to raise an additional $4 million before closing the round, and has not yet stated how it plans to use funds raised.