Axial Biotech snares $6M tranche of venture funding

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 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

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