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AxioMed Spine Corporation Closes its Series D Financing


5/22/2012 7:51:56 AM

GARFIELD HEIGHTS, Ohio--(BUSINESS WIRE)-- AxioMed® Spine Corporation (www.axiomed.com), a spinal orthopedics company focused on the development of products designed to restore spinal function in patients with degenerative spine disease by advancing the standard of care beyond fusion and first generation disc replacement, announced today that it has completed the final closing of its Series D financing, raising $5 million in two tranches from current and new investors. This funding augments the previously announced $15 million Series D financing.

AxioMed’s Freedom® Lumbar Disc (FLD) is currently on the market in the EU and advancing toward completion of its Investigational Device Exemption (IDE) pivotal study in the US. AxioMed intends to follow a similar regulatory and marketing pathway as the FLD with its Freedom® Cervical Disc, which recently received a CE Mark for introduction in the EU.

About AxioMed® Spine Corporation

AxioMed’s mission is to develop products focused on spinal function for patients with degenerative spine disease, thus advancing the standard of care beyond fusion and first generation discs. The Freedom®Lumbar and Cervical Discs were developed and designed by a team of clinicians and experts in the fields of biomechanics, pathology, spinal surgery and polymer science. Focusing on restoration of the natural function of the spine, AxioMed will enhance human health through research, innovation, development and service world-wide. For more information about AxioMed, please visit our website at www.axiomed.com.

Contact:

AxioMed ® Spine Corporation

Gerald Baty, Chief Financial Officer, 216-587-5566

Facsimile: 216-587-3388

Jbaty@axiomed.com


Read at BioSpace.com

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