NEWTON, Mass.– Axena Health, Inc. (Axena Health), a medical device company focused on female pelvic health, has closed on an additional $9.4 million in its Series A fundraising. Cross-Border Impact Ventures (CBIV) coinvested alongside existing investors AXA IM Alts through its Global Healthcare Private Equity Strategy, KOFA Healthcare and Avestria Ventures. Donna Parr, managing director and partner at CBIV, is joining Axena Health’s board of directors as part of its investment.
Proceeds from the fundraising will support Axena Health’s growth. In the United States, the company is focused on the continued commercial launch of its Leva® Pelvic Health System, an at-home treatment for urinary incontinence (UI) and chronic fecal incontinence (FI) in women. Outside the Unites States, Axena Health will accelerate its work developing scalable treatments in low- and middle-income countries.
“Over the past year since Axena Health’s founding, we’ve seen remarkable U.S. prescriber adoption and growth in payer coverage, leading to improved patient access. The demand for improved first-line treatment options for urinary incontinence and chronic fecal incontinence is clear and we’re thrilled to partner with CBIV and our existing investors to reach more women across the U.S.,” said Jim O’Connor, CFO and interim CEO of Axena Health. “CBIV’s focus on impacting women’s health globally also aligns perfectly with Axena Health’s ongoing work in sub-Saharan Africa to improve access to evidence-based treatments.”
“Pelvic floor disorders are typically progressive conditions and affect women globally,” said Ms. Parr. “Too often, women are left with the option of either suffering in silence or pursuing long-term medications or surgical solutions. In our view, neither of those treatments is accessible at scale – particularly not in low resource settings. The Leva® Pelvic Health System provides the opportunity to improve access and health outcomes so we couldn’t be more excited to partner on Axena Health’s growth.”
Dr. Zina Affas Besse, Deputy Head of Healthcare Private Equity at AXA IM Alts added, “AXA IM Alts is thrilled to have been Axena Health’s founding investor in 2023. We’re excited to partner with Donna and CBIV as the company works to improve treatment options for more women in the U.S. and globally, in line with our objectives of generating outcomes that benefit people and the planet, while meeting our clients’ financial objectives.”
