Gerbsman Partners has been hired to sell AxioMed Spine, accompany that has raised more than $70 million, according to the Blog of Intellectual Capital.
Venture Lending & Leasing VI and Venture Lending & Leasing II retained Gerbsman Partners to solicit interest in acquiring AxioMed's assets, including the company's intellectual property.
Cleveland-based AxioMed develops next-generation technology for the cervical and lumbar spine. The company's Freedom Technology is a next-generation elastomeric-based total disc replacement — a projected multi-billion dollar market opportunity. The platform is on track to capture around $1 million over the next year in the European Union.
Thomas McNearney & Partners, Investors Growth Capital, MB Ventures and Primus are AxioMed Spine's lead investors. The company has eight United States patents and three patents pending.