Monday, October 23, 2006

Axial Biotech Gets Bridge Round

Salt Lake City, Utah-based Axial Biotech has raised a small round of funding, according to a regulatory filing. The bridge funding will be used by the firm for operating expenses, according to John Climaco, the company's CEO, who spoke to Techrockies on the funding deal. The bridge came from one of the firm's existing investors, and from one its directors. Axial has previously received venture investments from Medtronic Sofamor Danek, Ohio Biotech Group, and vSpring Capital. Axial is developing DNA-based tests for treatment of idiopathic scoliosis. More information »