Axis Spine received $1 million (830,000 pounds) from three investors as it readies to advance its anterior spinal implant technology in the U.S., Business Leader reports.
What you should know:
1. Mercia Asset Management was the majority investor supported by two other firms.
2. The British devicemaker called the current environment "challenging," but was optimistic after closing the investment.
3. Axis Spine is targeting the U.S. market as the initial area to launch the device. The company expects to earn FDA approval for its spinal implant in May.
Note: Financial figures are current as of April 14.