AxoGen

What AxoGen does

AxoGen (NASDAQ: AXGN) is a publicly traded biotechnology and medical device company founded in 2002 and headquartered in Alachua, Florida (with corporate leadership in Tampa, FL). The company develops and commercializes surgical technologies for peripheral nerve repair, addressing nerve discontinuities, compression injuries, and neuroma prevention across three primary commercial markets: Extremities, Breast Reconstruction (including the Resensation technique), and Oral Maxillofacial/Head & Neck procedures. The company operates an FDA-regulated 24/7 tissue processing facility in Vandalia, Ohio, and a global distribution facility in Burleson, Texas, with wholly-owned subsidiaries in Germany for European market reach.

The product portfolio centers on two technology platforms: (1) Avance, an acellular nerve allograft that received FDA Biologics License Application approval on December 3, 2025, becoming the first and only FDA-approved biologic therapeutic for peripheral nerve discontinuities with 12 years of market exclusivity; and (2) the Axoguard family of porcine small intestine submucosa (SIS)-based devices, including the Nerve Connector (for gaps up to 5mm), Nerve Protector, HA+ Nerve Protector (with resorbable hyaluronate-alginate coating), and Nerve Cap (for neuroma prevention). The portfolio is rounded out by Avive+ Soft Tissue Matrix, a multi-layer amnion barrier. The company holds ISO 13485 certification, AATB accreditation, and multiple state tissue bank licenses.

AxoGen generates revenue through direct field sales to hospitals, ambulatory surgical centers, and surgeons across the United States. Products are sold one-time per procedure via surgeon-directed purchasing, with pricing determined by hospital procurement and insurance coverage rather than public disclosure. The company partners with Musculoskeletal Clinical Regulatory Advisers (MCRA) for coding and reimbursement support, and reports approximately 86% domestic covered lives insured following Cigna and Elevance Health positive coverage decisions. Full-year 2025 revenue was $225.2 million (20.2% YoY growth), with Q1 2026 reaching $61.5 million (26.6% YoY growth) and 2026 guidance of at least $270 million. The company became debt-free in January 2026 following a $133.3 million public offering.

Name

AxoGen

Legal name

Axogen Corporation

Website

https://axogeninc.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

251–500 employees

Short description

AxoGen (NASDAQ: AXGN) develops and commercializes FDA-regulated biologic and medical device products for surgical peripheral nerve repair, serving hospitals, surgeons, and patients across Extremities, Breast Reconstruction, and Oral Maxillofacial/Head & Neck markets in the United States.

Ownership category

akta.pro rank

Product category

Surgical Nerve Repair Products

NAICS

Surgical and Medical Instrument Manufacturing (339112), Surgical Appliance and Supplies Manufacturing (339113), Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Orthopedic, Prosthetic & Surgical Appliances & Supplies (3842), Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Bone Graft Substitutes & Orthobiologics (Synthetic/Allograft/DBM) (HLAHAEAG)

akta.pro secondary industry

Skin Substitutes & Biologic/Regenerative Wound Therapies (Matrices, Grafts) (HLAHALAE)

Keywords

• Peripheral nerve repair
• Nerve allograft products
• Surgical nerve connectors
• Biologic nerve grafts
• Soft tissue matrix

Headquarters

HQ city

Alachua

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Medical Device and Biologic Product Sales: Revenue generated from the sale of peripheral nerve repair products including Avance Nerve Graft, Axoguard Nerve Connector, Axoguard Nerve Protector, Axoguard HA+ Nerve Protector, Axoguard Nerve Cap, and Avive+ Soft Tissue Matrix. Products sold directly to hospitals and surgical facilities for use in nerve repair procedures. Revenue is one-time per procedure with recurring account relationships.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

AxoGen develops, manufactures, and markets a portfolio of medical devices and biologic products for the surgical repair of peripheral nerve injuries. Its offerings include the FDA-approved Avance acellular nerve allograft and the Axoguard family of porcine small intestine submucosa (SIS)-based nerve connectors, protectors, and caps, plus the Avive+ Soft Tissue Matrix. Products are sold to hospitals, ambulatory surgical centers, and surgeons for use in extremity, breast reconstruction, and oral maxillofacial/head & neck nerve repair procedures.

Product overview

AxoGen offers a comprehensive suite of surgical products for peripheral nerve repair. The portfolio includes Avance (FDA-approved biologic nerve allograft), the Axoguard family of SIS-based devices (Nerve Connector, Nerve Protector, HA+ Nerve Protector, Nerve Cap), and Avive+ Soft Tissue Matrix. These products address the full spectrum of nerve repair scenarios: Avance provides an acellular nerve scaffold for bridging gaps, the Nerve Connector enables tension-free coaptation for small gaps, the Nerve Protectors wrap and shield injured nerves from soft tissue attachments, the Nerve Cap prevents neuroma formation, and Avive+ provides soft tissue separation. The company transitioned from a medical device platform to a regulated biologics business following FDA approval of Avance in December 2025.

Differentiator

Problem solved

Functional benefit

Brands

• Avance: FDA-approved acellular nerve allograft for peripheral nerve discontinuities
• Axoguard
• Avive+
• Resensation

Products and services

• Avance Acellular Nerve Allograft FDA-approved acellular nerve allograft serving as a biologic scaffold for nerve regrowth across peripheral nerve discontinuities in patients aged one month and older. Indicated for surgical nerve repair procedures performed by peripheral nerve, trauma, breast reconstruction, and oral maxillofacial surgeons.
• Axoguard Nerve Connector Porcine small intestine submucosa (SIS) matrix designed for Connector Assisted Repair of transected nerves with gaps up to 5mm, alleviating tension at the repair site and aiding nerve end alignment for peripheral nerve surgeons.
• Axoguard Nerve Protector Porcine small intestine submucosa (SIS) implant with a pre-curled design for circumferential wrapping of injured or compressed nerves, minimizing soft tissue attachments during healing for use by peripheral nerve and reconstructive surgeons.
• Axoguard HA+ Nerve Protector SIS-based nerve protector with a short-term resorbable hyaluronate-alginate gel coating designed to enhance nerve gliding and minimize soft tissue attachments during the critical healing phase for peripheral nerve and reconstructive surgeons.
• Axoguard Nerve Cap Porcine small intestine submucosa (SIS) matrix with proprietary bifurcation design intended to reduce the development of symptomatic or painful neuromas by minimizing pathological axon interaction, for use in neuroma prevention procedures.
• Avive+ Soft Tissue Matrix Multi-layer amnion intended for use as a soft tissue barrier in acutely inflamed or irritated environments, resorbing over 16 weeks to provide barrier function through the critical healing phase for surgical applications.

Quantifiable outcome

• 23.5% year-over-year revenue growth in Q3 2025
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Musculoskeletal Clinical Regulatory Advisers, LLC (MCRA)coreImplementation/ SI/ Consulting PartnerAxoGen provides experienced coding assistance and Coverage Access Services through MCRA as consulting partner. MCRA staff provides guidance on CPT and ICD-10 codes, claim submission, benefits verification, pre-authorization assistance, and payer-specific pre-determination requests.

Scale indicators7 records

Recent moves8 records

Expansion highlights7 records

Broad incumbents

• Stryker: Stryker is a diversified medical device incumbent with surgical, orthopedic, and neurotechnology portfolios that overlap with Axogen's extremity and reconstructive surgical call points. As a large incumbent, Stryker has the scale and R&D resources to enter the nerve repair space.
• Medtronic: Medtronic has a strong neurosurgery and ENT portfolio and active peripheral nerve stimulation offerings (e.g., Intellis, Vanta). It serves overlapping surgical specialists and could expand into nerve repair biologics from a position of strength.
• Cook Medical: Cook Medical sells a broad range of surgical implants and biologic devices (including the Biodesign SIS-based surgical products) that overlap with Axogen's porcine SIS-based Axoguard line in soft tissue and reconstructive surgery.
• Coloplast: Coloplast is a broad wound and skin care incumbent with Biatain and other advanced wound care products. While not a nerve repair specialist, it competes for surgical wound healing budgets and shares reimbursement-driven hospital channels with Axogen.
• ConvaTec: ConvaTec is a global wound and skin care company with advanced wound biologics (e.g., InnovaMatrix) that overlap with Axogen's Avive+ soft tissue matrix and compete for the same surgical reimbursement codes.
• Smith+Nephew: Smith+Nephew is a diversified incumbent with strong surgical and regenerative medicine franchises (including acquired Osiris cartilage and skin products) that overlap with Axogen's regenerative nerve and soft tissue repair products.

Emerging players

• Organogenesis: Organogenesis is a regenerative medicine company with leading skin substitute products (Apligraf, Dermagraft) targeting wound care and surgical applications adjacent to Axogen's nerve repair and Avive+ matrix portfolio.
• Vericel: Vericel is a regenerative medicine specialist (MACI, Epicel) targeting surgical and sports medicine indications. While focused on cartilage and burns, it uses a similar hospital-based specialty sales model and biologic reimbursement strategy to Axogen.

Direct peers

• MiMedx: MiMedx markets EpiFix and AmnioFix amniotic membrane allografts that directly overlap with Axogen's Avive+ Soft Tissue Matrix in surgical and wound applications. Both compete in regenerative soft tissue and use similar direct-to-surgeon field sales models.
• Integra LifeSciences: Integra is the most direct competitor in peripheral nerve repair, selling NeuraGen nerve guides and NeuraWrap/NeuraWrap+ protectors for nerve coaptation. Both companies target the same hand, plastic, and trauma surgeons with surgical nerve repair solutions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• Xx.com/AxoGen
• YouTubeyoutube.com/channel/UCyleub9e_9TBi-MzwH4l_rA
• Facebookfacebook.com/axogen/?__tn__=%2Cg
• LinkedInlinkedin.com/company/axogen
• Instagraminstagram.com/axogeninc/?hl=en

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries4 records

Funding overview

Funding rounds12 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AxoGen