Two Alachua County startups are proving how fertile the Gainesville area is for innovation. AxoGen logged a 58% revenue increase this year for the third quarter. The publicly traded company (NASDAQ: AXGN) manufactures peripheral nerve repair products, and all indications point towards a bright future. AxoGen just secured nearly $30 million allowing them to retire costly royalty agreements with a pharmaceutical company, and reduce their debt service by several million dollars per year. The company is headquartered in Alachua in Progress Park.
Additionally, Applied Genetics Technology Corporation (NASDAQ: AGTC) is en route to the stratosphere of success. Also in Progress Park, this Alachua based publicly traded company is developing gene therapy to treat rare eye diseases. Their 2014 third quarter revenue is almost triple their third quarter 2013 figures. The company is about to start clinical trials for two separate therapies, with several other projects in the pipeline. These local rock stars are just two examples of what the greater Gainesville area and the University of Florida’s presence can offer blossoming companies.