Healthcare Industry News:  Regeneration Technologies 

Devices Venture Capital

 News Release - December 4, 2007

AxoGen Receives $12.1 Million in Venture Capital Funding

ALACHUA, Fla.--(HSMN NewsFeed)--AxoGen, Inc., which is commercializing innovative peripheral nerve Regeneration Technologies, achieves another milestone by raising $12.1 million in Series C funding from Accuitive Medical Ventures, Cardinal Partners, De Novo Ventures and Springboard Capital II.

In July 2007, AxoGen established itself in the nerve regeneration field with the launch of AVANCE Nerve Graft for peripheral nerve repair. AVANCE Nerve Graft is a human allograft nerve that is minimally processed to preserve the three dimensional structure of the nerve basal lamina and the inherent growth promoters that lie within. This process decellularizes the graft – clearing cells, cellular debris, axons and chondroitin sulfate proteoglycan (CSPG), a naturally occurring inhibitor to axon regeneration. The resulting nerve graft supports axon regeneration along the repaired nerve.

“This round of funding will enable us to provide the AVANCE Nerve Graft to more surgeons, giving them a new solution to repair and regenerate peripheral nerves. Thus, AVANCE Nerve Graft will help bring relief and restore function to patients who suffer peripheral nerve injuries,” says Jamie Grooms, AxoGen CEO and Co-Founder.

Based in Alachua, Florida, AxoGen is committed to supporting surgeons in improving the standard of care for patients with peripheral nerve injuries by “Bringing the Science of Nerve Repair to Life.” AxoGen has developed a strong scientific and management team. The company is privately held and has received funding from Accuitive Medical Ventures, Cardinal Partners, De Novo Ventures, Emergent Growth Fund, SynoGen and Springboard Capital II. The Company will sustain its competitive market advantage by capitalizing on its experienced and successful management team, its superior technology and the large potential for expansion and development in the peripheral nerve repair market.

About Accuitive Medical Ventures

Accuitive Medical Ventures (AMV) is a venture capital firm with committed capital of $230 million and offices in Atlanta, GA and Rochester, MN. AMV is in business to finance and help develop early stage medical technology and device companies. In conjunction with The Innovation Factory, the Atlanta based medical device incubator, AMV has the resources and the experience to create long-term value for medical technology inventors and innovators.

About Cardinal Partners

Cardinal Partners is a leading early-stage venture capital firm that invests across the healthcare sector including medical devices, life sciences, and healthcare IT. Cardinal is committed to the belief that innovation and excellence in healthcare will simultaneously improve the lives of millions, while rewarding our investors with extraordinary returns. Our management team leverages their decades of experience to nurture today's enterprises into tomorrow's industry leaders. Together, the Cardinal Partners team has invested in over a hundred growth companies with cumulative market valuation exceeding $6 billion.

About De Novo Ventures

Since 2000, De Novo Ventures has built a healthcare investment firm that is differentiated by its approach, valued for its knowledge, and distinguished by its performance. Their distinctive background as successful entrepreneurs, investors and operating executives enables them to draw from personal experiences to offer advice, guidance and feedback to the current generation of entrepreneurs. Their mission is to provide financial and intellectual capital to assist management teams in building great healthcare companies that address critical patient needs.

About AxoGen

AxoGen, Inc., founded in 2002 and based in Alachua, Florida, is a privately held company pioneering the commercialization of peripheral nerve grafting and nerve Regeneration Technologies. AxoGen is focused on the advancement of peripheral nerve repair by creating a unique combination of patented technologies and a rich pipeline of new products to change the standard of care for patients with injured peripheral nerves.

Visit AxoGen at:

Source: AxoGen

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