Devices & Diagnostics

Michigan dental device company Axenic raising $1 million

Axenic's focuses on disposable dental devices and its products include the Axenic DHP, a high-speed disposable drill the company said cut the costs of cleanup and sterilization and gave patients piece of mind by knowing their drill was only used on them.

By Chris Seper on September 08, 2009 2:34 pm

KALAMAZOO, Michigan — Device company Axenic Dental is raising $1 million, according to a filing with the Securities and Exchange Commission.

Axenic’s focuses on disposable dental devices and its products include the Axenic DHP, a high-speed disposable drill the company says cuts the costs of cleanup and sterilization while giving  patients the piece of mind of knowing their drill was only used on them. The 4-year-old company had received FDA approval for the device in early 2008.

VentureWire reports the company is raising a total of $3 million to bring the drill to market.

The company has raised about $250,000 of its $1 million, which Axenic is raising through dept and other options, according to the SEC. Previous investors include Apjohn Group, which co-founded the company.