ALEXANDRIA. Va., June 3 /PRNewswire/ -- Oxford Finance Corporation and ATEL Ventures, Inc., today announced they have provided a $7.5 million senior secured loan to AxoGen, a privately held, venture-backed life science company.
AxoGen is a leader in the advancement of peripheral nerve repair. Their patented product, AVANCE(TM) Nerve Graft is a biological solution used by surgeons for the repair and regeneration of peripheral nerves.
"Oxford's and ATEL's support will allow us to continue our focused efforts on the AVANCE(TM) Nerve Graft, as well as support a rich pipeline of new products furthering AxoGen's commitment to improve the standard of care for patients with peripheral nerve injuries," said Jamie Grooms, AxoGen chief executive officer and co-founder.
"Oxford is pleased to provide capital to support AxoGen's continuing growth," said J. Alden Philbrick, president and chief executive officer of Oxford Finance Corporation. "Their technology is quite unique and a promising solution for people with peripheral nerve damage."
About Oxford Finance Corporation
Oxford Finance Corporation, a subsidiary of Sumitomo Corporation, is a specialty finance firm providing senior secured loans to public and private life science companies worldwide. For 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity 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 additional offices in California and Massachusetts. For more information, visit http://www.oxfordfinance.com.
About ATEL Ventures, Inc.
Since its founding in 1977, San Francisco-based ATEL Capital Group has become the largest private and closely-held independent leasing company in the United States, with approximately $2 billion in asset-secured transactions under management. ATEL Capital formed ATEL Ventures, Inc. to provide working capital and equipment financing term loans to emerging growth companies in information technology, life sciences, specialty retail and alternative energy. For information about ATEL Ventures, contact Steven Rea, executive vice president, or visit their website at http://www.atel.com/ventures.
About AxoGen, Inc.
Based in Alachua, Florida, AxoGen is committed to supporting surgeons in their efforts to improve the standard of care for patients with peripheral nerve injuries by "Bringing the Science of Nerve repair to Life." The company is privately held and has received funding from Accuitive Medical Ventures, Cardinal Partners, De Novo Ventures, Springboard Capital II, LLC, SynoGen, and Emergent Growth Fund.
|SOURCE Oxford Finance Corporation|
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