Axis Spine Technologies has raised £2.2 million in a round led by ACF Investors, with additional funding from Mercia’s EIS funds. Mercia was the first investor when Jon Acros founded Axis in 2017.
This is the first investment from ACF Investors’ new Delta Fund, a fast-track investment fund for UK companies supported by angel investors’ syndicate in sector expertise.
Axis Spine Technologies has developed anterior implant technology from the next generation, which provides enhanced correction and harmonization options for surgeons. To reduce the risk of structural damage, which may lead to subsidence and an under-reported complication, their modular devices are inserted with less power than conventional implants.
Simon Cartmell, who has more than 40 years of experience in the pharmaceutical, biotech, and MedTech industries, leads the angel syndicate. In his current position on the AST board, he brings experience in orthopedic technology. He was previously CEO of Apatech, an orthobiologics company specializing in bone grafting and spine repair that Baxter Healthcare purchased in 2010 and a non-executive director for a variety of other companies in similar fields.
The Axis-ALIF, Axis Spine’s first implant device, has already gained commercial interest in pre-release activities and will soon be demonstrated clinically with a variety of top US spine surgeons who can use it. The money would be used to help launch the latest technology in the United States and advance the development of Oblique, Lateral cage implants, and a differentiated access system.
“In 2021, we will take a big step forward in our quest to help surgeons strengthen the spinal treatment they give to their patients,” said Jon Arcos, founder and CEO of Axis. They will achieve superior correction and maintain it more efficiently with our products than they can with current devices. As a result of Simon Cartmell’s appointment to the board, we will be able to rely on his vast business expertise and insight to help us drive Axis to the next level. We are thrilled to be the first investment from ACF Investors’ Delta Fund, as well as to have Mercia and our independent angel investors continue to help us as we show the advantages of modular implants and extend the Axis product line.”
“I am very pleased to partner with ACF for the second time to offer their help to Axis Spine,” said Simon Cartmell, managing director of Route2Advisors. It’s an excellent example of the UK community promoting fantastic entrepreneur-led MedTech businesses, and I’m looking forward to assisting Jon and the Axis team in getting their superior products to market and building out the underlying platform.”
