Alachua, FL (PRWEB) March 30, 2016
AxoGen, Inc. (NASDAQ: AXGN), a leader in developing and marketing innovative surgical solutions for peripheral nerve injuries, today announced the commercial release and first sale of AcroVal™ Neurosensory & Motor Testing System (NSMTS), a nerve function evaluation solution for surgeons and other allied health professionals to electronically measure, map, and monitor patients with peripheral nerve injuries and conditions. AcroVal™ is the Company’s latest product introduction and will be complementary to the Company’s portfolio of nerve repair products - Avance® Nerve Graft, AxoGuard® Nerve Connector and AxoGuard® Nerve Protector.
“The expansion of our nerve repair product portfolio is an important aspect of AxoGen’s growth strategy and the AcroVal™ System is the first product launched from this initiative,” commented Karen Zaderej, President and Chief Executive Officer. “AcroVal™ strengthens our position in providing peripheral nerve solutions and will support the standardized evaluation and measurement of nerve function for improving patient outcomes for peripheral nerve function.”
AcroVal™ enhances AxoGen’s position as the leading provider of nerve repair solutions to surgeons and is expected to support surgeon utilization of AxoGen’s product portfolio. The AcroVal™ System consists of three different input devices that enable surgeons to thoroughly and quantitatively evaluate nerve function. AcroVal™ was developed by Dr. A. Lee Dellon, founder of The Dellon Institutes for Peripheral Nerve Surgery and Professor of Plastic Surgery and Neurosurgery at John Hopkins University School of Medicine.
“Measuring nerve function to understand both the degradation of nerve function, due to chronic nerve injuries, and the improvement of nerve function recovery following the repair of nerve injuries is a critical tool for clinicians,” commented Dr. Dellon. “My research and clinical experience led me to understand the role and activity of sensory nerve fibers. I was able to invent a method of evaluating changes in these sensory fibers that were previously undetectable. These changes act as a leading indicator in the alteration of nerve function. I am excited to work with AxoGen on the development of this next generation peripheral nerve evaluation system. ”
About AxoGen, Inc.
AxoGen (NASDAQ: AXGN) is a leading medical technology company dedicated to peripheral nerve repair. AxoGen’s portfolio of regenerative medicine products is available in the United States, Canada and several other countries and includes Avance® Nerve Graft, an off-the-shelf processed human 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. Along with these core surgical products, AxoGen also offers AxoTouch™ Two-Point Discriminator and AcroVal™ Neurosensory & Motor Testing System. These evaluation and measurement tools assist healthcare professionals in detecting changes in sensation, assessing return of sensory, grip and pinch function, evaluating effective treatment interventions, and providing feedback to patients on nerve function.
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 our growth, our 2016 guidance, product development, product potential, financial performance, sales growth, product adoption, market awareness of our products, data validation, our visibility at and sponsorship of conferences and educational events. 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, except as required by law, AxoGen assumes no responsibility to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: AxoGen, Inc.
Peter J. Mariani, Chief Financial Officer