Trace Biosciences has secured a strategic investment from Axogen to advance its Nerve Trace nerve-specific imaging technology via clinical development.
The financing, which comes as part of Trace Biosciences’ ongoing Series A financing round, is intended to support the biotechnology company’s clinical trials. Further investors are anticipated to join the round.
Nerve Trace is a near-infrared fluorescence imaging technology developed to provide surgeons direct, real-time visualisation of nerves during operations.
The system aims to reveal nerves that are hidden behind or within tissue, supporting surgeons in identifying and avoiding nerves during a variety of surgical procedures.
In addition to nerve avoidance, the technology is designed to help localise and assess nerves that have already been injured, potentially enabling more precise surgical repairs.
Trace Biosciences’ lead product candidate is Nerve Trace Dx. The agent received clearance for its investigational new drug application from the US Food and Drug Administration in December 2025.
A Phase I clinical trial is currently underway to evaluate the safety and feasibility of Nerve Trace in surgical patients.
The Axogen investment will be used to progress the technology into Phase II and III clinical studies with the aim of eventually submitting a new drug application.
Trace Biosciences co-founder and CEO Connor Barth said: “We’re pleased to welcome Axogen, a company that shares our commitment to protecting nerve function, as a strategic partner in this next phase of our growth.
“This investment strengthens our ability to advance Nerve Trace through the clinical work ahead, giving surgeons visibility into nerves they’ve not been able to see before.”
Axogen president and CEO Michael Dale said: “Improving nerve care starts with being able to see the nerve. You can’t treat what you can’t see.”
Trace Biosciences is focused on developing imaging agents intended to make nerves visible and measurable during surgery.
