AxioMed Spine Corporation, a Garfield Heights, Ohio-based company focused on the development of products designed to restore function in patients with degenerative spine disease, has raised $14.5m.
The funding, from both current and new investors, will be delivered in two tranches.
As also stated by Patrick McBrayer, AxioMed’s President and CEO, the proceeds from the financing will allow AxioMed to achieve several significant product development and regulatory milestones for both Freedom® Lumbar Disc and new Freedom® Cervical Disc, while continuing to advance marketing efforts for the Freedom Lumbar Disc in Europe and other territories.
Both products were developed and designed by a team of clinicians and experts in the fields of biomechanics, pathology, spinal surgery and polymer science.
FinSMEs
22/07/2010