Healthcare Industry News: Novo Ventures
News Release - January 24, 2008
AxoGen Announces Alliance with Stryker Orthopaedics to Bring AVANCE Nerve Grafts to More Patients Suffering from Peripheral Nerve InjuriesALACHUA, Fla.--(HSMN NewsFeed)--AxoGen, Inc. announces an exclusive agreement with Stryker Orthopaedics to provide distribution and co-marketing services for the new AVANCE Nerve Graft. Stryker will be responsible for AVANCE Nerve Graft distribution services for nerve repairs in the upper extremities, lower extremities and brachial plexus. AxoGen will provide distribution services within the head, neck and torso. AVANCE Nerve Graft is intended for use in the repair of damaged and diseased peripheral nerves. AVANCE Nerve Graft is the only product currently available that gives surgeons the option to repair damaged peripheral nerves with human allograft nerve while eliminating a second donor site surgery.
The deal will unite the marketing forces of Stryker Orthopaedics with the first commercially available, off-the-shelf nerve to nerve repair option. “AxoGen is pleased to be partnering with Stryker to bring hope of restoration of nerve function to more patients suffering from peripheral nerve damage and disease. This partnership represents a milestone achievement for our organization,” states John Engels, Vice President for AxoGen.
Stryker Corporation is one of the world’s leading medical technology companies with the most broadly based range of products in orthopaedics and a significant presence in other medical specialties. Stryker works with respected medical professionals to help people lead more active and more satisfying lives. The Company's products include implants used in joint replacement, trauma, craniomaxillofacial and spinal surgeries; biologics; surgical, neurologic, ear, nose & throat and interventional pain equipment; and endoscopic, surgical navigation, communications and digital imaging systems; as well as patient handling and emergency medical equipment. For more information about Stryker, please visit the company web site at www.stryker.com.
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.” The company is privately held and has received funding from Accuitive Medical Ventures of Atlanta, GA, Cardinal Partners of Princeton, NJ, De Novo Ventures of Menlo Park, CA, Springboard Capital II, LLC of Jacksonville, FL, SynoGen of Gainesville, FL, and Emergent Growth Fund of Gainesville, FL. The Company will sustain its competitive market advantage by capitalizing on its experienced and successful management team; its superior technologies internally developed as well as licensed from the University of Florida’s McKnight Brain Institute, the University of Texas, and Emory University; and, the large potential for expansion and development in the peripheral nerve repair market.
Visit AxoGen at: www.axogeninc.com
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