Axis听Spine Technologies has raised 拢2.2听million听in a funding round led by ACF听Investors, with follow-on investment from Mercia鈥檚听EIS funds.听听
This is the first investment from ACF Investors鈥� new Delta Fund, a fast-track investment fund designed for high-potential UK businesses that have been backed by a syndicate of angel investors with deep sector knowledge.听听
Mercia was the first investor when Axis was founded by Jon Acros in 2017.听
Axis, based in St Albans with an office in Memphis in the US, is developing the next generation of Anterior Spinal Implant technology which provides surgeons with increased correction and alignment options.
Its modular devices are inserted with less force than conventional implants to reduce the risks of structural damage which can lead to subsidence, an under-reported and recognised complication.听 听
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The angel syndicate is led by Simon Cartmell, who has more than听40 years pharmaceutical, biotech and听medtech听experience. He brings specialised expertise in orthopaedic technologies to his new role on AST鈥檚 board.听听
Previously he was CEO of听Apatech, an听orthobiologics听company specialising in bone grafting and spine repair,听which was acquired by Baxter Healthcare in 2010 and subsequent Non-Executive Director appointments with several other companies in related fields.听听听
The Axis-ALIF, Axis Spine鈥檚 first implant system, has already attracted听commercial interest in pre-release activities and will soon demonstrate its clinical benefits with several top US spine surgeons that are ready to start using the device. The funding will be used to support the launch of the new device in the USA,听and also听to progress developments of Oblique, Lateral cage implants, as well as a highly differentiated access system.听听
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鈥淚n 2021 we will take a big step forward in our mission to help surgeons improve the spinal care they provide to their patients,鈥� said CEO Arcos.听
鈥�Our products will enable them to achieve superior correction and to maintain this correction more reliably than with the devices听available today.听听听
鈥�Simon Cartmell鈥檚 addition to the board means we can draw on his experience and deep sector knowledge to help take Axis to the next level.听听
鈥�We are very pleased to be the first investment from ACF Investors鈥� Delta Fund and to have the continued听support of Mercia and our independent angel investors as we demonstrate the benefits of modular implants and expand the Axis product range.鈥澨�听
Tim Mills,听managing听partner at ACF Investors, commented:听鈥淲e believe that the active involvement of stand-out angel investors is one of the largest contributing factors to the success of an early-stage company.听听听
鈥�Having Simon on board and a proposition as strong as Axis Spine鈥檚 technology makes this investment the听perfect fit for The Delta Fund.听听
鈥�We are excited to see where the team takes the company by opening up new markets and expanding their product suite, which will help improve outcomes for surgeons and patients alike.鈥�听
Simon Cartmell, MD听of Route2Advisors,听said: 鈥淚 am really pleased to work with ACF for a second听time to bring their support to Axis Spine.听听
鈥�It is a great example of the UK ecosystem supporting fantastic entrepreneur-led听medtech听companies and I am delighted to assist Jon and the Axis team take their superior products to market and to build out the underlying听platform.鈥澨�听