AxoGen announced that it sold roughly $17 million in stock to Essex Woodlands. AxoGen makes peripheral nerve-repair products and Woodlands is an investment first that specializes in healthcare companies. With the new funding, AxoGen plans to drive its current marketing program, enter new markets, and develop additional nerve-repair products.
With this investment, Woodlands now has a stake of 16% percent in AxoGen’s stock shares. For the first quarter, AxoGen reported revenues of $4.95 million but has a net loss of $3.6 million. Additionally, with the investment, Essex operating partner Guido Neels joins AxoGen’s board of directors. With Guido’s 40 years of experience in healthcare, AxoGen can look forward to a profitable quarter.