ALACHUA, FL – AxoGen Inc., a company commercializing a technology that repairs peripheral nerves, has raised $3.36 million of a targeted $4.7 million equity and options offering, according to a regulatory filing.
We’ve covered AxoGen for several years now and it was one of TechJournal South’s 50 companies to watch in 2008.
Founded in 2002, AxoGen raised a $12.1 million C round from Accuitive Medical Ventures, Cardinal Partners, DeNovo Ventures and Springboard Capital II in December 2007. Other investors include SynoGen and the Emergent Growth Fund.
It received a $7.5 million loan from Oxford Finance Corp. in June 2008.
Axogen’s nerve graphs help people who lose strength, movement and muscle mass due to a traumatic injury to the arm, lose the ability to smile due to a facial injury, or lose sexual function due to prostrate surgery or suffer other injuries or surgical damage to peripheral nerves.
The company revealed the current financing in a filing with the U.S. Securities and Exchange Commission.
Although the company has focused on upper extremity injuries from power tool mistakes, car accidents, workplace injuries and so on, it is seeing significant interest in the graphs from surgeons in other areas, the company told us in a previous interview.
Oral surgeons are interested in the grafts to help patients who lose feeling in their tongues due to dental surgery, for instance, while surgeons doing breast reconstructions may use them to restore sensation to patients.
Previously on TechJournal South:
CEO of Florida-based AxoGen wins SEMDA spotlight award
www.techjournalsouth.com/news/article.html?item_id=6921
Florida’s AxoGen lands $12.1M round for nerve repair
www.techjournalsouth.com/news/article.html?item_id=4392
Online: www.axogeninc.com
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Related Stories:
- Axogen receives over $2.6M toward D round
- Florida’s AxoGen lands $12.1M round for nerve repair
- AxoGen secures $7.5M loan for nerve graft tech
- Florida-based AxoGen names new CEO
- CEO of Florida-based AxoGen wins SEMDA spotlight award
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[...] reported that the company, previously one of TechJournal Souths 50 Companies to watch, raised $3.6 milllion of a financing [...]