Axena Health closes extra $9.4 million funding for its pelvic health system Leva
Axena Health closes extra $9.4 million funding for its pelvic health system Leva
Cross-Border Impact Ventures joins final tranche of Series A fundraising along with existing Axena Health investors
The US-based pelvic health medical device company Axena Health has closed on an additional $9.4 million in its Series A fundraising. It initially raised a $25m Series A in February 2023.
Cross-Border Impact Ventures (CBIV) coinvested for this round, alongside existing investors AXA IM Alts through its Global Healthcare Private Equity Strategy, KOFA Healthcare and Avestria Ventures.
A focus on growth with Leva Pelvic Health system
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.
The Leva Pelvic Health System is a non-invasive, medication-free way for women to train and strengthen their pelvic floor muscles. It combines a small FDA-cleared vaginal motion sensor with integrated software. It’s available by prescription only and has had multiple clinical trials published.
Notably, Axena Health is also committed to improving access to healthcare in globally too. Outside the Unites States, Axena Health will accelerate its work developing scalable treatments in low- and middle-income countries.
Jim O’Connor, CFO and interim CEO of Axena Health said:
“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 US.”
“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.”
As part of the investment, Donna Parr, managing director and partner at CBIV, is joining Axena Health’s board of directors.
Donna said:
“Pelvic floor disorders are typically progressive conditions and affect women globally.
“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.”