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Axial Biotech
Medical Devices & Tech  Advamed Member
2749 E. Parley's Way, Suite 210
Salt Lake City, UT 84109 USA
phone:(801) 984-9100
fax:(801) 994-1000
Symbol Private
Founded 2002
Employees 15
www.axialbiotech.com
Research Sector Medical Devices & Tech
Summary Description
Genetic markers and motion preserving implants for scoliosis prognosis and treatment.
Management
Kenneth Ward, M.D., Chairman of the Board and Chief Scientific Officer; John M. Climaco, President and Chief Executive Officer; James Ogilvie, M.D., Chief Medical Advisor; Eric Olson, Executive Vice President of Sales and Marketing; Lesa Nelson, Vice President of Clinical Operations
Keywords
Genetic-based diagnositcs, Scoliosis, personalized medicine

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Updated: May 17, 2012

Description
Axial Biotech, Inc. is a privately held, venture-backed molecular diagnostics company. Axial was founded in 2002 by a group of internationally recognized spine surgeons and geneticists. Axial's mission is to deliver breakthrough diagnostics that improve and personalize the treatment of spine disorders. Axial is focused on developing high-value molecular tests that answer key clinical questions and that will allow for more accurate and personal treatment decisions, with the goal of making these tests the standard of care. Axial has demonstrated the ability to enable better treatment decisions by delivering precise, individualized, actionable and otherwise unobtainable information to spine patients and their physicians.
Products / Services
In September 2009, Axial launched the ScoliScore AIS Prognostic Test, the first DNA-based prognostic test for a spinal disorder. ScoliScore is a clinically validated, multi-gene test with a 99% Negative Predictive Value that accurately determines the likelihood of curve progression into a severe range (spinal fusion surgery indicated) for children diagnosed with Adolescent Idiopathic Scoliosis. Axial has partnered with DePuy Spine, a Johnson and Johnson company, for the sales and marketing of ScoliScore through its 600 sales representatives.
Technology / Differentiation
It is well established that excessive exposure to ionizing radiation is harmful. What is less well known is that the typical scoliosis patient receives an average of 25 radiographs during the observation of his or her disease, and each of these images produces roughly 30 times the radiation exposure as a typical chest X-ray. It should come as no surprise then that certain cancer mortality rates are as much as 67% greater in the scoliosis population than in the population at large. ScoliScore is expected to eliminate many of the observational visits and x-rays that add significant radiation exposure to affected children as well as the attendant costs to the healthcare system. Furthermore, there are no other known competing technologies for ScoliScore.
Market / Customers
ScoliScore is currently on the market in the US. The target market for the current indication for use has an annual incidence of over 100,000 patients domestically, with a backlog of over 400,000 patients undergoing monitoring. The market for ScoliScore in the EU is approximately equal to that in the US. Status Axial is currently raising a Series C round which it expects to take the company to profitability.
Funding
Status Axial is currently raising a Series C round which it expects to take the company to profitability.
Status
Axial Biotech announced in March 2007 that it had raised $15.3 million in Series B financing. This funding round was led by new investor, Johnson & Johnson Development Corporation. The funds raised in this financing will be used to accelerate Axial Biotech's product development efforts and to prepare for the launch of its scoliosis genetic test in late 2008.


2012-05-24-2512