AxoGen, Inc. (LECT) To Open New Distribution Facility In Burleson, TX
12/10/2013 12:17:27 PM
Alachua, FL and Burleson, TX, December 10, 2013 – AxoGen, Inc. (NASDAQ: AXGN), a leader in the science and commercialization of surgical solutions for peripheral nerve repair, and the City of Burleson, Texas, today announced that they have entered an agreement to support the opening of a new AxoGen distribution facility in Burleson. Under the city’s Economic Development Program, AxoGen will receive certain economic incentives that will offset a portion of the costs to establish the facility, along with the opportunity to obtain further incentives depending on hiring, training and future operations.
AxoGen has leased a distribution facility in Burleson to accommodate product distribution and raw material storage. The Burleson facility will support the Company’s growing business and enable improved customer service, including the ability to fulfill same day orders for both coasts of the United States. The first shipment from the new facility is anticipated in the first quarter of 2014 after all regulatory approvals are obtained.
Greg Freitag, Chief Financial Officer of AxoGen, commented, “The new distribution facility in Burleson is an important component of our continued growth and includes attractive incentives from the local Economic Development Program. Burleson is an ideal partner in terms of location and accessibility allowing us to process late-night orders and meet demand for delivery of nerve repair products throughout the United States, including the West Coast. The new distribution facility will also allow us to consolidate our raw material storage and reduce storage expense. Burleson City Leadership including the Mayor, City Council and Economic Development Team fully understood the requirements of AxoGen as a rapidly growing company and worked closely with us to support the creation of our new distribution facility. We are extremely excited to become part of the Burleson community and look forward to a long and productive partnership.”
Bradley Ford, Director of Development Services at City of Burleson, remarked, “We welcome AxoGen as an essential member of our community. Burleson and AxoGen share a common story of a progressive vision and remarkable growth. We look forward to playing a large part in AxoGen’s promising future. We support the Company’s goal of providing surgeons with solutions to repair and protect peripheral nerves and ultimately change the standard of care for patients with peripheral nerve injuries.”
AxoGen will continue to maintain its corporate headquarters in Alachua, Florida.
About Burleson, Texas
Burleson, Texas is a part of the Dallas/Fort Worth Metroplex. The community offers low taxes, a family-oriented environment, an outstanding school system, and plentiful affordable land. The Burleson 4A Economic Development Corporation recruits new businesses into the community through permit assistance and project support.
Located on Interstate 35W adjacent to Fort Worth, Burleson has a population of nearly 40,000. The community serves a trade area of close to 300,000, and over 650,000 workers are within a 25-minute drive. Burleson also boasts branch campuses of Hill College and Texas Wesleyan University.
Quality of life is important to businesses and families in Burleson. The city is home to two dozen parks on approximately 300 acres. Burleson has a renowned municipal golf course, a new recreation facility and baseball/softball fields recognized by top tournament organizations. Exciting districts like Old Town welcome visitors and residents to local shops and destination restaurants.
Learn more about Burleson, Texas and sign up for the monthly newsletter at http://www.burlesontx.com/ED.
About AxoGen, Inc.
AxoGen (NASDAQ: AXGN) is a leading 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 repair solutions including Avance® Nerve Graft, the only off-the-shelf commercially available processed nerve allograft for bridging severed nerves without the comorbidities associated with a second surgical site, AxoGuard® Nerve Connector, a porcine submucosa ExtraCellular Matrix (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 the nerve reconstruction while preventing soft tissue attachments.
AxoGen is the parent of its wholly owned operating subsidiary, AxoGen Corporation. Avance® Nerve Graft is processed in the United States by AxoGen. AxoGuard® Nerve Connector and AxoGuard® Nerve Protector are manufactured in the United States by Cook Biotech Incorporated, West Lafayette, Indiana, and are distributed exclusively by AxoGen.
AxoGen’s principal executive office and operations are located in Alachua, FL. For more information on AxoGen and its technology, please visit www.AxoGenInc.com. To receive email alerts directly from AxoGen, please click here www.axogeninc.com/emailalerts.html.
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, financial performance, sales growth, product adoption, market awareness of our products, data validation and our ability to maintain the listing of our common stock 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.
This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer, if at all, will be made only by means of the registration statement and the final prospectus.
Greg Freitag, Chief Financial Officer & General Counsel
City of Burleson, Texas
Justin Bond, Economic Development Manager
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