Johnson & Johnson Development Corporation along with vSpring Capital and Ohio Biotech Group have stepped in to provide a $6 million tranche for Axial Biotech's second round of venture capital. Axial is advancing new technology in molecular diagnostics and motion preserving to develop a genetic prognostic test for Adolescent Idiopathic Scoliosis. Axial says it has met several scientific milestones in its work on the test.
- see this release [1] for more
ALSO: EnGene, which is developing a treatment for diabetes called GEMS-Insulin, announced today it has raised $6.4 million in a Series A financing. Release [2]
Links:
[1] http://www.fiercebiotech.com/press-releases/axial-biotech-meets-major-scientific-milestones-receives-6-million-tranche-series-b-f
[2] http://www.fiercebiotech.com/press-releases/engene-inc-completes-us-6-4m-series-financing