Medical device company raises US$9.4m to address pelvic floor disorders

The US medical device company Axena Health has raised US$9.4m in funding to help women struggling with pelvic floor disorders.

Axena Health offers a novel treatment for urinary incontinence and chronic faecal incontinence, underreported pelvic conditions affecting over 78 million and 12 million women in the US alone.

The company’s technology provides a non-invasive, medication-free way for women to train their pelvic floor muscles at home.

Cross-Border Impact Ventures co-invested alongside existing investors AXA IM Alts through its Global Healthcare Private Equity Strategy, KOFA Healthcare and Avestria Ventures.

Proceeds from the fundraising will support Axena Health’s growth, including the commercial launch of its Leva Pelvic Health System. The capital will also support the development of new treatments for low- and middle-income countries.

“Over the past year since Axena Health’s founding, we’ve seen remarkable US prescriber adoption and growth in payer coverage, leading to improved patient access,” said Jim O’Connor, CFO and interim CEO of Axena Health.

“The demand for improved first-line treatment options for urinary incontinence and chronic faecal incontinence is clear and we’re thrilled to partner with Cross-Border Impact Ventures and our existing investors to reach more women across the US.

“Cross-Border Impact Ventures’ 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.”

Donna Parr, managing director and partner at Cross-Border Impact Ventures and now member of Axena Health’s board of directors, 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.”

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 Cross-Border Impact Ventures as the company works to improve treatment options for more women in the US and globally, in line with our objectives of generating outcomes that benefit people and the planet, while meeting our clients’ financial objectives.”

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