ECI Biotech and Axial Biotech Secure Funding

Think Equity‘s latest Weekly Life Sciences Update includes a couple of med tech transations. ECI Biotech, a protein sensor yeezy scarpe company based in Worcester, MA, announced on March 28 that it secured $2 million in Series D equity financing from private investment sources. The capital will be used to develop ECI’s first product, a point-of-care rapid diagnostic for wound infection, based on the yeezy scarpe firm’s patented ExpressDetect technology platform. The product is intended to provide an indication of wound infection within 15 minutes and will serve the growing $1.2 billion advanced wound care market. A day earlier, Axial Biotech, a Salt Lake City company that makes motion-preserving spine implants, announced that it raised $15.3 million in Series B financing. The yeezy scarpe funding round, which will be split into two traunches, was led by new investor Johnson & Johnson Development Corporation, with participation by existing investors Spring Capital and Ohio Biotech Group.

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