Axonia Medical obtains $2 Million in financing

A Kalamazoo-based start up that is developing treatment to repair and restore damaged peripheral and central nervous systems now has $2 million in seed financing to help it pursue that goal.

Axonia Medical has obtained financing from the Southwest Michigan First Life Science Venture Fund, Ann Arbor Spark and Western Michigan University Research Foundation.

Nervous system injuries that the company is working to treat include a diverse group of disorders such as peripheral nerve injury, spinal cord injury, traumatic brain injury and stroke.

Using tissue-engineered nerve grafts, the company’s products are expected to bridge lost nervous tissue and jump-start regenerative mechanisms to achieve levels of functional recovery not possible with current technologies.

The company is building on the discoveries regarding the growth and repair of the nervous system made by its scientific founder, Dr. Douglas H. Smith at the University of Pennsylvania.

Co-Founder/President & CEO Harry Ledebur says the company believes its technology will transform medical care for those who have debilitating injuries to their nervous system. The seed money will give the company the funds it needs for further testing of the technologies.

Writer: Kathy Jennings, Second Wave
Source: Southwest Michigan First