Our corporate team advised Axis Spine Technologies during their recent investment round, where they secured £2.2m in new funding, a boost which is set to become a pivotal stage in their growth cycle.
The funding round, led by ACF Investors and with follow-on investment delivered from Mercia’s EIS funds, will now allow Axis Spine to launch a new device in the US which will potentially transform spinal treatment.
As a subscriber to our Enterprise Plan, Axis Spine Technologies receives easily accessible and ongoing legal support on a monthly basis. This enables Axis Spine Technologies to secure industry-leading support from partner-level lawyers without incurring the costs normally associated with using a law firm.
Stephen Evans, a corporate solicitor at Harper James Solicitors, assisted Axis in their funding round by drafting all the deal documentation and negotiating with the investors and their advisers.
‘This funding round is an important stage in the continued growth of Axis Spine,’ Stephen said. ‘It will support their ambitious plans for the future. Harper James Solicitors is well placed to work alongside businesses like Axis Spine who are innovative, forward-thinking and who are always looking to come up with products that lead the market they specialise in.’
Axis Spine is the first business to benefit from investment via ACF Investors’ new Delta Fund. This fund is focused on high-potential UK businesses that have been backed by a syndicate of angel investors with deep sector knowledge.
Founded in 2017, Axis Spine Technologies aims to help surgeons performing spinal treatment. Last year, they received FDA 510(k) clearance for their first implant system, the Axis-ALIF. Now they are developing the next-generation of Anterior Spinal Implant technology for use in the US.
Axis Spine’s founder, Jon Arcos, had this to say of our legal support: ‘The management of the legal process was very straightforward indeed. Stephen was very helpful, pragmatic and where appropriate, entertaining. We were grateful for the way Stephen advised us in layman’s terms, showing patience to ensure we understood the transaction and were able to move to completion. I value the relationship we have developed with Harper James over the last few years and would recommend them to others.’
Setting out their plans for this year, he added: ‘In 2021, we will take a big step forward in our mission to help surgeons improve the spinal care they provide to their patients. Our products will enable them to achieve superior correction and maintain this correction more reliably than with the devices available today. We are very pleased to be the first investment from ACF Investors’ Delta Fund and to have the continued support of Mercia and our independent angel investors as we demonstrate the benefits of modular implants and expand the Axis product range.’