Axis Spine Technologies, a UK-based MedTech startup, closed a £2.2m funding round.
The round was led by ACF Investors’ Delta Fund with follow-on investment from Mercia’s EIS funds. An angel syndicate led by Simon Cartmell, who has more than 40 years pharmaceutical, biotech and medtech experience, participated.
The funding will be used to support the launch of the new device in the USA, and also to progress developments of Oblique, Lateral cage implants, as well as a highly differentiated access system.
Founded in 2017 by Jon Arcos, CEO, Axis Spine Technologies is a UK based medical device company focused on advancing the treatment and correction options for surgeons performing anterior spinal surgery. Its proprietary platform technology of modular cages provides a comprehensive spinal correction capabilities available to date.
The company has developed products which address the key anterior surgical approaches; ALIF, OLIF and Lateral. The company has also created an advanced Retractor system to improve the safety and reproducibility of anterior surgery. The first device to market, the Axis-ALIF was cleared by the FDA in May 2020 and the first surgery was completed in Atlanta, USA in November 2020.