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.
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