Afaxys, a sexual and reproductive healthcare-focused company, secured $8 million in funding, including a $3 million program-related investment from the David and Lucile Packard Foundation and a $5 million grant from an anonymous foundation.
The funding round is the third investment from the Packard Foundation since Afaxys' inception in 2008.
WHAT IT DOES
Afaxyx is a public benefit corporation (PBC) operating in the reproductive health space that delivers a range of contraceptive options and services.
Afaxys Group Services is an outsourcing operation that negotiates pricing via its group purchasing organization.
In addition, emapp is a cloud-based emarketplace and purchasing portal that connects healthcare centers to their preferred suppliers.
Afaxys Pharma provides a portfolio of branded and generic contraceptives to the public healthcare market, including oral contraceptives, emergency contraceptives, contraceptive patches and adjacent products.
The company said it will use the funds to complete the development of a novel contraceptive product that is specially tailored to address the needs of "marginalized communities and women living in contraceptive deserts."
MARKET SNAPSHOT
In 2024, Afaxys announced it acquired Agile Therapeutics by Insud Pharma, the parent company of Exeltis USA, with whom Afaxys has partnered since 2022.
In June, Afaxys announced the renewal of its alliance to support access to Twirla (levonorgestrel and ethinyl estradiol) transdermal system and additional Exeltis products in the public health market.
The renewal follows the August 2024 acquisition of Agile Therapeutics by Insud Pharma.
In 2024, Afaxys became legally recognized as a PBC.
Other companies in the reproductive and contraceptive healthcare space include Wisp, which in 2024 announced a strategic partnership with the food as medicine platform Nourish to allow Wisp patients access to nutrition counseling services via their health insurance or an exclusive self-pay rate.
The aim is to make it easier for women looking for a more holistic approach to weight management to access nutrition support.
In addition, patients enrolled in Wisp's weight care program can merge medical weight loss treatments with personalized nutrition counseling from Nourish.
That same year, femtech company Clue partnered with Headspace to provide Clue Plus Members with a 50% discount on a Headspace subscription.
Clue offers reproductive health services from period tracking to pregnancy tracking. Through the partnership, Clue Plus Members have access to Headspace's mental health and mindfulness offerings, enabling them to understand better at which points of their cycle they experience the most stress.
The partnership also offered Clue Plus Members targeted support for cycle tracking, pregnancy, fertility and perimenopause/menopause to help individuals navigate the different stages of their cycle.
