Trace Biosciences, a clinical-stage biotechnology company developing nerve-targeted imaging agents, has received a strategic investment from Axogen, Inc. The investment was part of Trace’s Series A financing round, with additional investors expected to join.
Nerve Trace is a near-infrared fluorescence imaging technology providing real-time visualization of nerves during surgery. The technology allows surgeons to identify and avoid nerves otherwise obscured from view, and to localize and assess previously injured nerves with greater precision. Trace’s lead candidate, Nerve Trace Dx, received FDA clearance of its Investigational New Drug application in December 2025 and has begun Phase I clinical trials.
Proceeds from the investment will support Trace’s Phase II and III clinical trials toward a New Drug Application.
KEY QUOTES:
“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.”
Connor Barth, Ph.D., Co-Founder and CEO, Trace Biosciences
“Improving nerve care starts with being able to see the nerve. You can’t treat what you can’t see. This investment in Trace’s technology is directly aligned with our mission of making restoration of peripheral nerve function an expected standard of care.”
Michael Dale, President and CEO, Axogen
