ATLANTA – Axion BioSystems Inc., a company developing cellular analysis technology, has raised $$2.1 million, the bulk of a $$2.5 million mixed securities offering, according to a regulatory filing.

Axion Biosystems specializes in neural interfacing technologies with wide applications in research, clinical, and drug discovery markets.

A graduate of Georgia Tech’s Venture Lab, the company raised $1 million in 2009, although other reports set the total at $2 million.

Its proprietary technology simultaneously stimulates and records live neural tissue—an industry first—and includes low-power chips that service thousands of channels. It allows researchers to test potential new drug candidates in a culture disk, using Axion’s electronics to record the cellular response to the drug.

While current development is focused on pharmaceutical drug screening, ongoing development will result in devices in the medical arena.

Axion Biosystems is located in the ATDC Biosciences center in downtown Atlanta, where it makes use of state-of-the art facilities including the NanoTechnology Research Center and the Laboratory for Neuroengineering.

The company disclosed the current raise in a filing with the U.S. Securities and Exchange Commission.

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Tags: Atlanta, Axion BioSystems, Biotech, drug development, financing