Presently Metallic Rods that Are Used for Spinal Fixtures Cannot Meet the Requirements of both Surgeons and Patients; Surgeons Require the Material to Have a High Young’s Modulus to Suppress Springback during the Operation, whereas Patients Require the Material to Have a Low Young’s Modulus to Prevent the Stress-Shielding Effect. In Order to Develop a Novel Biomedical Titanium Alloy with a Changeable Young’s Modulus for Spinal Fixation Applications via Deformation-Induced ω Phase Transformation. The Effects of Deformation-Induced Phases on the Mechanical Properties of Metastable β-Type Ti-xCr Alloys Were Investigated. The Experimental Results Indicate that the Young’s Moduli, Tensile Strength, and Vickers Hardness of the Ti–(10–12)Cr Alloys Increase Remarkably by Cold Rolling. The Results of the Microstructural Observations of Ti–12Cr Alloys Using a Transmission Electron Microscopy (TEM) Show that Deformation-Induced ω Phase Transformation Occurs during Cold Rolling. Therefore, the Increase in Young’s Modulus of the Alloys Is Attributed to the Deformation-Induced ω Phase, which Is Formed in the Alloy during Cold Rolling at Room Temperature.