Axonia Medical Raises Funding

Axonia Medical, a Kalamazoo, Michigan-based start up that is developing technology to rebuild and restore damaged peripheral or central nervous systems using tissue-engineered nerve grafts, has received funding from theĀ Michigan Pre-Seed Capital Fund.

The company intends to use the funding, whose amount was not disclosed, to expand its commercialization efforts.

Axonia Medical’s technology aims at repairing severed or damaged peripheral nerves by using a living construct of pure neuronal material. Its process involves the harvesting of cell bodies with living axons from organ donors prior to surgery, and stretching them to the desired length required by a specific nerve injury.

The funding is part of a $2m investment made by the Michigan Pre-Seed Capital Fund in nine companies. It operates as an equity investment vehicle that receives the same returns as the third party investor, which areĀ then redeployed as first round capital to Michigan-based start-ups.

FinSMEs

24/04/2012

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