The Future of Fusion.
Two British innovators redefining spinal surgery
Where biology meets engineering.
The next generation for Lumbar Fusion is here
The $13 billion global spine market is undergoing a structural shift. For decades, it was defined by commoditised hardware and costly biologics. Today, new engineering and biologic platforms are resetting the standard of care and reshaping where value will accrue.
Mercia Ventures backs the businesses at the heart of this change. Our portfolio companies Axis Spine Technologies and Locate Bio are demonstrating how British MedTech can deliver globally competitive solutions in one of the world’s most profitable and acquisition-rich segments.
Axis Spine Technologies
Re-engineering spinal alignment for the robotic era
Axis Spine has developed a modular implant system that replaces the brute-force techniques of traditional monobloc cages. Its design allows delicate insertion, avoids endplate damage and has achieved zero subsidence across more than 150 cases that delivers a clear clinical edge.
The modular format dramatically reduces SKUs and costs for hospitals while aligning perfectly with the rise of computer-planned and robotic-assisted surgery. Axis already counts 16 major US hospitals among its adopters, with nine further submissions in progress.
With proven outcomes, growing surgeon advocacy and direct dialogue with global strategics, Axis Spine is well-positioned for a high-value trade exit in the near to mid-term.
Locate Bio
Transforming bone healing through precisely controlled biologic delivery
Locate Bio’s LDGraft addresses the $1bn–$2bn bone growth market dominated by Medtronic’s Infuse. Using a patented encapsulation and controlled-release system, LDGraft is designed to deliver the same high efficacy as Infuse, but with improved handling, safety, and cost efficiency.
LDGraft is reshaping BMP-2 perspectives by aligning BMP-2 release with the body’s natural healing timeline. With Breakthrough Device Designation, first-in-human trials underway, and strong strategic interest, Locate Bio is excited to be preparing for pivotal trials and ultimately commercialisation.
The investment case
Both Axis and Locate Bio sit at clear points of inflection: validated products, strong clinical data, early commercial traction, and increasing strategic attention. Together they reflect Mercia’s thesis — to invest early in technically differentiated, clinically proven platforms that can scale efficiently and attract premium exits in global markets.
The Future of Fusion exemplifies how Mercia Ventures converts deep-science innovation into commercial and strategic value — backing the founders building the next generation of spinal repair and regeneration.
Mercia Ventures’ ecosystem
Behind these innovators stands one of the UK’s most experienced Life Sciences investors.
Mercia Ventures backs over 50 health and MedTech companies from regenerative materials and AI diagnostics to advanced orthopaedics.
Our portfolio includes Eventum Orthopaedics, Naitive, and of course Locate Bio and Axis Spine, advancing the science of Orthopaedics.