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Series B leads to $15.3mm for Axial Biotech

Executive Summary

Axial Biotech (diagnostics and devices for spinal disorders) raised $15.3mm in its two-tranche Series B financing led by first-time backer Johnson & Johnson Development Corp., which was joined by returning shareholders vSpring Capital and Ohio Biotech Group. The company will use the money for ongoing development and eventual launch of its scoliosis genetic test. A member of J&J Development takes a seat on Axial's board.
Deal Industry
  • Biotechnology
    • Drug Discovery Tools
      • Genomics-Proteomics
  • In Vitro Diagnostics
    • Molecular Diagnostics & Genetic Testing
  • Medical Devices
    • Implantable Devices
    • Surgical Equipment & Devices
      • Minimally or Less Invasive
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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