Key Developments: AxoGen Inc (AXGN.OB)
4.44USD
18 Jun 2013
$0.14 (+3.26%)
$4.30
$4.40
$4.44
$4.40
2,000
7,840
$6.25
$2.06
Latest Key Developments (Source: Significant Developments)
AxoGen Inc Announces Health Canada Approval For AxoGuard Nerve Connector And AxoGuard Nerve Protector
AxoGen Inc announced Health Canada Approval for AxoGuard Nerve Connector and AxoGuard Nerve Protector. AxoGuard Nerve Connector and AxoGuard Nerve Protector are derived from porcine submucosa extracellular matrix. Full Article
AxoGen Inc Completes $20.8 Million Financing With PDL BioPharma, Inc.
AxoGen Inc (AxoGen) and PDL BioPharma, Inc. announced that they closed a structured financing transaction on October 5, 2012 in which PDL provided AxoGen with an aggregate of $20.8 million. AxoGen is a regenerative medicine company dedicated to advancing the science and commercialization of surgical solutions for peripheral nerve repair. This financing allows AxoGen to strengthen and accelerate sales and marketing efforts as well as to explore pipeline opportunities. The total financing of $20.8 million was provided pursuant to a Revenue Interests Purchase Agreement that included $19.05 million in cash PDL paid to AxoGen on October 5, 2012 and $1.75 million PDL paid to AxoGen on August 14, 2012 pursuant to an Interim Revenue Interest Purchase Agreement. Aggregate net proceeds were approximately $14.0 million after repayment of $5.0 million in existing debt and payment of transaction related fees and expenses. The Revenue Agreement has an eight year term and provides PDL with royalties based on AxoGen revenues, subject to certain minimum payment requirements beginning in the fourth quarter of 2014 and the right to require AxoGen to repurchase the revenue contract at the end of the fourth year. Full Article
AxoGen, Inc.'s Avance Nerve Graft Clinical Results Published
AxoGen, Inc. announced the publication of peer-reviewed clinical research conducted at twelve US surgical sites and led by the Buncke Clinic in San Francisco. The study, which is the first, multi-center clinical trial on processed nerve allografts, found that the Avance Nerve Graft achieved meaningful recovery in 87% of patients with peripheral nerve injuries. Full Article
AxoGen Inc Announces Completion Of Merger And Executive Team Changes
AxoGen Inc, the parent company of AxoGen Corporation, announced completion of the merger between LecTec Corporation (LecTec) and AxoGen Corporation. As a result of the merger, the Company has also announced the changes to its executive leadership team. Karen Zaderej, current CEO of AxoGen Corporation, has been appointed CEO of AxoGen, Inc. while former CEO and CFO of LecTec, Greg Freitag has been appointed CFO of AxoGen, Inc. Other officers of AxoGen Inc. include Vice President John Engels, Vice President of Sales Brad Hedger and Vice President of RA&QA Dr. Mark Friedman, Ph.D. Full Article
AxoGen Inc Announces Avance Nerve Graft Clinical Study Results
AxoGen Inc announced the presentation of data from a clinical registry study entitled, Analysis of Quantitative Endpoints from a Multicenter Retrospective Registry Study on the Use of Acellular Nerve Grafts for Sensory, Mixed and Motor Nerve Reconstructions. This twelve center clinical study shows an analysis of outcomes for patients with peripheral nerve injuries reconstructed with Avance Nerve Graft. The study enrolled 103 patients with 132 peripheral nerve injuries treated with Avance Nerve Graft. The peripheral nerve injuries were varied from traumatic injuries to surgical resections and included acute to delayed and multiple nerve types in all regions of the body. This analysis included quantitative outcome data on a subgroup where 55 nerves were repaired with Avance Nerve Graft using study center standard of care for treatment as well as follow up evaluation. The quantitative subgroup analyzed consisted of patients with an average age of 44 years old (ranging in age from 18 to 86 years). The study results demonstrate that Avance Nerve Graft is a safe method for reconstructing nerve discontinuities with 87.3% of the injuries achieving meaningful recovery. Meaningful recovery was achieved in a majority of cases regardless of nerve type repaired, increased age, prolonged time-to-repair, or larger gap length (up to 50mm) variables classically associated with poorer axon regeneration and prognosis. Full Article
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