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ALACHUA, FL – May 23, 2013 – AxoGen, Inc. (OTCBB: AXGN), a leading regenerative medicine company focused on the commercialization of proprietary products and technologies for peripheral nerve reconstruction and regeneration, today announced that the Company and Vanderbilt University have been awarded a shared $1.1 million grant, for which AxoGen’s portion is approximately 35%, from the Congressional Directed Medical Research Programs administrated by the U.S. Department of Defense (DoD) to support the development and expansion of nerve repair technologies.
Erick DeVinney, Director Clinical and Translational Sciences at AxoGen, said, “We are excited that the Department of Defense has recognized and reinforced the clinical value of AxoGen’s peripheral nerve repair platforms in the treatment of traumatic injuries. This grant supports our goal of providing new, life improving solutions for peripheral nerve injuries for wounded warriors and for civilian patients.”
The grant was awarded by the DoD’s Peer Reviewed Orthopaedic Research Program (PRORP) to support a development program jointly led by Wesley Thayer, MD, PhD, Assistant Professor at Vanderbilt University’s Department of Plastic Surgery and Curt Deister, PhD, of AxoGen.
Dr. Thayer added, “Grant funding and collaboration with industry partners helps ensure the translation of innovative technologies from the research lab to clinical use in patients. We are pleased to partner with AxoGen to make advances in the field of peripheral nerve repair.”
AxoGen’s peripheral nerve regeneration technologies are also involved in additional PRORP grant-funded projects in collaboration with the regenerative medicine and orthopedic research divisions of two other prestigious academic institutions. For more information on AxoGen and its technology, please visit www.axogeninc.com.
About AxoGen, Inc.
AxoGen (AXGN) is a regenerative medicine company dedicated to advancing the science and commercialization of peripheral nerve repair solutions. The Company’s innovative approach to regenerative medicine has resulted in first-in-class products that will define their product categories. AxoGen’s products offer a full suite of surgical nerve reconstruction solutions including Avance® Nerve Graft, the only commercially available processed nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site, AxoGuard® Nerve Connector, a porcine submucosa ECM coaptation aid for tensionless repair of severed nerves, and AxoGuard® Nerve Protector, a porcine submucosa ECM product used to wrap and protect injured peripheral nerves and reinforce coaptation sites while preventing soft tissue attachments. For more information, visit our website at http://www.axogeninc.com.
AxoGen is the parent of its wholly owned operating subsidiary, AxoGen Corporation. AxoGen’s principal executive office and operations are located in Alachua, FL.
Cautionary Statements Concerning Forward-Looking Statements
This Press Release contains “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations or predictions of future conditions, events or results based on various assumptions and management’s estimates of trends and economic factors in the markets in which we are active, as well as our business plans. Words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “seeks”, “estimates”, “projects”, “forecasts”, “continue”, “may”, “should”, “will” variations of such words and similar expressions are intended to identify such forward-looking statements. The forward-looking statements may include, without limitation, statements regarding product commercialization and marketing efforts for its portfolio of peripheral nerve repair products, Avance® Nerve Graft, AxoGuard® Nerve Connector and AxoGuard® Nerve Protector, product development, and the intent to list on a national securities exchange. The forward-looking statements are subject to risks and uncertainties, which may cause results to differ materially from those set forth in the statements. Forward-looking statements in this release should be evaluated together with the many uncertainties that affect AxoGen’s business and its market, particularly those discussed in the risk factors and cautionary statements in AxoGen’s filings with the Securities and Exchange Commission. Forward-looking statements are not guarantees of future performance, and actual results may differ materially from those projected. The forward-looking statements are representative only as of the date they are made, and AxoGen assumes no responsibility to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Greg Freitag, Chief Financial Officer
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