AxoSim is a New Orleans-based startup developing nerve-on-a-chip technology that can significantly improve the search for new treatments for numerous major diseases.
According to a recent SEC filing, AxoSim has raised $1.6 million in equity funding by roughly one dozen investors. The company is still working with other investors to continue to raise addition funding, likely in the next few weeks.
AxoSim’s technology allows pharmaceutical companies to develop safer and more effective drugs before they ever do a clinical trial.
The company has previously been awarded a two-year, $1.77 million grant by the National Institutes of Health Small Business Technology Transfer in September 2017. AxoSim also won the 2018 Coulter IDEApitch at New Orleans Entrepreneur Week and walked away with a $100,000 investment towards their next round of funding, provided in partnership with Coulter and The Idea Village.
For more information about the company, visit www.axosim.com.