ALEXANDRIA. Va., June 3 Oxford Finance Corporation andATEL Ventures, Inc., today announced they have provided a $7.5 million seniorsecured loan to AxoGen, a privately held, venture-backed life science company.
AxoGen is a leader in the advancement of peripheral nerve repair. Theirpatented product, AVANCE(TM) Nerve Graft is a biological solution used bysurgeons for the repair and regeneration of peripheral nerves.
"Oxford's and ATEL's support will allow us to continue our focused effortson the AVANCE(TM) Nerve Graft, as well as support a rich pipeline of newproducts furthering AxoGen's commitment to improve the standard of care forpatients with peripheral nerve injuries," said Jamie Grooms, AxoGen chiefexecutive officer and co-founder.
"Oxford is pleased to provide capital to support AxoGen's continuinggrowth," said J. Alden Philbrick, president and chief executive officer ofOxford Finance Corporation. "Their technology is quite unique and a promisingsolution for people with peripheral nerve damage."
About Oxford Finance Corporation
Oxford Finance Corporation, a subsidiary of Sumitomo Corporation, is aspecialty finance firm providing senior secured loans to public and privatelife science companies worldwide. For 20 years, Oxford has delivered flexiblefinancing solutions to its clients, enabling these companies to maximize theirequity by leveraging their assets. In recent years, Oxford has originated over$1 billion in loans, with lines of credit ranging from $500 thousand to$30 million. Oxford is headquartered in Alexandria, Virginia, with additionaloffices in California and Massachusetts. For more information, visithttp://www.oxfordfinance.com.
About ATEL Ventures, Inc.
Since its founding in 1977, San Francisco-based ATEL Capital Group hasbecome the largest private and closely-held independent leasing company in theUnited States, with approximately $2 billion in asset-secured transactionsunder management. ATEL Capital formed ATEL Ventures, Inc. to provide workingcapital and equipment financing term loans to emerging growth companies ininformation technology, life sciences, specialty retail and alternativeenergy. For information about ATEL Ventures, contact Steven Rea, executivevice president, or visit their website at http://www.atel.com/ventures.
About AxoGen, Inc.
Based in Alachua, Florida, AxoGen is committed to supporting surgeons intheir efforts to improve the standard of care for patients with peripheralnerve injuries by "Bringing the Science of Nerve repair to Life." The companyis privately held and has received funding from Accuitive Medical Ventures,Cardinal Partners, De Novo Ventures, Springboard Capital II, LLC, SynoGen, andEmergent Growth Fund.
SOURCE Oxford Finance Corporation