Axial Biotech Meets Major Scientific Milestones; Receives $6 Million Tranche of Series B... (Axial Biotech is the first company to pu...)

Axial Biotech Meets Major Scientific Milestones; Receives $6 Million Tranche of Series B Financing

Date:3/17/2008

Axial Biotech is the first company to pursue DNA-based predictive tests for common spinal conditions. In addition to its groundbreaking work with AIS, Axial Biotech has also initiated clinical studies in the development of genetic tests for other common spinal diseases. Axial Biotech expects to launch its genetic prognostic test for AIS in September, 2008.

About Axial Biotech, Inc.

Axial Biotech, Inc. is a privately held, venture-backed company founded in 2002 by a group of internationally recognized spine surgeons and geneticists. The company is focused on developing and commercializing DNA-based pre-symptomatic and prognostic tests, as well as motion-preserving technologies, for common spinal disorders. The company's headquarters and laboratory are located in Salt Lake City, Utah.

About Johnson & Johnson Development Corporation.

Organized in 1973, Johnson & Johnson Development Corporation (JJDC) is the venture capital subsidiary of Johnson & Johnson. JJDC makes private equity investments in venture funded health care companies. Portfolio companies include those in the fields of pharmaceuticals, biotechnology, medical devices, diagnostics, and consumer products.

About vSpring Capital

vSpring Capital (http://www.vspring.com) is an early-stage venture capital firm with $350 million under management. With offices in Utah, New Mexico and Colorado, vSpring invests in information technology and life science companies that have the potential to transform their markets and create lasting value.

About Ohio Biotech Group

Ohio Biotech Group is a group of angel investors that include some of the leading spine surgeons in the United States.

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Axial Biotech Meets Major Scientific Milestones; Receives $6 Million Tranche of Series B...(Axial Biotech is the first company to pu...)