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Afaxys Secures $8 Million to Propel Growth and Mission

In a significant step toward enhancing reproductive healthcare, Afaxys, Inc. has successfully attracted $8 million in funding, aimed at supporting its ongoing mission to improve access to reproductive health services. This funding comes from two prominent foundations, highlighting the organization's robust partnership and commitment to delivering impactful healthcare solutions.

The investment comprises a $3 million program-related investment (PRI) from the David and Lucile Packard Foundation and a $5 million grant from an anonymous source. This funding landmark represents the third investment from the Packard Foundation since Afaxys was established in 2008, emphasizing their belief in the organization's purpose-driven approach.

Susan Phinney-Silver, the Mission Investing Director at the Packard Foundation, expressed confidence in Afaxys’ ability to effect meaningful change, stating that through mission-based investments, Afaxys has evolved into a sustainable force within the healthcare market. The organization is dedicated to ensuring that access to reproductive health services is available to all, particularly for the communities served by public health providers.

The recent financial injection will serve as a catalyst for growth, allowing Afaxys to further its mission of providing millions of women across the United States with access to affordable contraception. Unique in its field, Afaxys boasts a nationwide distribution framework tailored specifically for public health clinics, maintaining a reliable supply chain crucial for serving Medicaid and Title X patients.

Ronda Dean, CEO of Afaxys, expressed enthusiasm over the new funding, reiterating the vital necessity of quality reproductive healthcare in today’s society. She emphasized, “We are thrilled to collaborate with esteemed foundations to bolster the Afaxys mission, ensuring that access to reproductive healthcare remains a fundamental right.”

Addressing Contraceptive Deserts

Afaxys' initiatives particularly target the needs of marginalized communities, including over 19 million women identified as residing in contraceptive deserts, defined as areas lacking access to affordable contraceptive options. The company plans to utilize part of the funding to finalize the development of a novel contraceptive product, underscoring its commitment to addressing gaps in reproductive health services.

As a Public Benefit Corporation, Afaxys strategically collaborates with both public health and private sectors to guarantee that healthcare professionals have stable pricing and dependable access to essential products and services. The company operates through three wholly owned subsidiaries: Afaxys Pharma, LLC, Afaxys Drug Development, LLC, and Afaxys Group Services, LLC (AGS). Afaxys Pharma offers a wide range of branded and generic contraceptives, while Afaxys Drug Development specializes in the regulatory and development aspects of pharmaceutical products. AGS focuses on negotiating favorable pricing for a diverse portfolio of products and services through its Group Purchasing Organization.

This funding will not only fortify Afaxys’ existing operations but also enhance its capacity to develop new healthcare solutions. As the national dialogue around reproductive health continues to evolve, Afaxys remains resolute in its mission to provide cost-effective and accessible healthcare services to those in need.

For more information about Afaxys and its initiatives, visit afaxys.com.

Conclusion

The infusion of $8 million into Afaxys marks a transformative moment not only for the organization but also for the millions of women who stand to benefit from improved access to reproductive healthcare. As they advance further into their growth strategy, the hope is that Afaxys will continue to lead the charge in ensuring that reproductive health is regarded as a basic right for all individuals.