Home / Business and Economy / Axogen Spends $200M on Sutureless Nerve Repair Innovation
Axogen Spends $200M on Sutureless Nerve Repair Innovation
12 Sep
Summary
- Axogen acquired BioCircuit Technologies for $200 million cash.
- The deal integrates FDA-approved NerveTape for sutureless nerve repair.
- The transaction is expected to close in Q4 2026.
Axogen Inc. announced on Thursday its agreement to acquire the privately held BioCircuit Technologies Inc. for $200 million in cash. This strategic move aims to integrate BioCircuit's NerveTape, recognized as the first FDA-approved sutureless nerve repair device, into Axogen's portfolio of solutions for peripheral nerve function restoration.
To fund the acquisition, Axogen is conducting a public offering of common stock, expecting gross proceeds of approximately $208.7 million. The company plans to use the net proceeds for the purchase and general corporate purposes, including working capital and capital expenditures.
BioCircuit's NerveTape technology allows surgeons to align and connect severed nerves without sutures, offering a simpler and faster procedure that requires less specialized skill. Axogen believes its established hospital infrastructure and sales team will expedite the adoption of this advanced technology.
The companies anticipate finalizing the transaction in the fourth quarter of 2026. Following completion, Axogen expects the acquisition to drive revenue growth and improve profitability, while maintaining positive free cash flow.
