Florida-based medical technology company Axogen has agreed to acquire BioCircuit Technologies for $200 million in an all-cash transaction, strengthening its position in the surgical peripheral nerve repair market.

The deal, which Axogen expects to close in the fourth quarter of 2026, will add BioCircuit’s NerveTape technology to Axogen’s existing portfolio, which includes the Avance nerve graft system and the Axoguard range of nerve connectors and protectors.

NerveTape became the first sutureless peripheral nerve repair technology to receive clearance from the US Food and Drug Administration (FDA) in July 2022. The device uses miniature hooks to bring the ends of a severed nerve together, aligning and holding them in place to support healing.

According to Axogen, the technology reduces reliance on microsurgical suturing skills and could expand access to peripheral nerve repair across a wider range of surgeons and care settings.

Following completion of the acquisition, Axogen expects to leverage its direct sales force, hospital contracting relationships and surgeon network to accelerate NerveTape’s commercial adoption and expand its market reach. 

The company will also acquire BioCircuit’s underlying technology platform, creating opportunities for further product development and potential expansion into additional indications.

Michael Dale, President and CEO of Axogen, said NerveTape’s approach “makes high-quality nerve repair simpler and more accessible for surgeons,” describing it as a differentiated technology designed to simplify a challenging aspect of nerve surgery.

Axogen CFO Lindsey Hartley described NerveTape as an “attractive growth asset” that is expected to contribute to the company’s future revenue growth.

The acquisition comes as competition intensifies in the sutureless peripheral nerve repair segment. Tissium’s COAPTIUM CONNECT technology recently received FDA De Novo authorisation for peripheral nerve repair. Unlike NerveTape, the technology uses a light-activated surgical gel within a bioresorbable, 3D-printed chamber to join severed nerve ends.