“We are pleased to mark this significant milestone as we begin processing Avance Nerve Graft in our new APC (Axogen Processing Center) facility,” Karen Zaderej, Axogen chairman, chief executive and president, said in a release.
The company described the facility as a “world-class tissue processing center” that will support Axogen’s biologics license application submission in the first half of 2024 and long-term growth. Biologics are medicines derived from natural organisms, human or animal sources.
The new facility includes ISO14644 clean rooms, internal quality labs, a surgeon and tissue agency training lab and more. The center provides up to three times the company’s current processing capacity and was designed for future growth and expansion, Axogen said.
“The local team in Dayton has done an impressive job in the construction of this world-class processing center,” said Todd Puckett, the company’s vice president, manufacturing. “We have assembled an excellent team of nearly 100 employees who are deeply committed to honoring the gift of tissue donation as we continue to revolutionize the science of nerve repair.”
Two weeks ago, Axogen reported a second quarter net loss of $6.7 million, or 16 cents per share, compared to a net loss of $7.7 million, or 18 cents a share in the second quarter of 2022.
Revenue was $38.2 million during the second quarter, an increase of about 11% over the second quarter of 2022, the company reported.
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