Afaxys, Inc., a socially conscious healthcare company focused on serving the reproductive health needs of public health professionals and their patients, announces it has secured $8 million in new funding from two large foundations to support its mission and propel its growth strategy. The capital includes a $3 million program-related investment (PRI) from the David and Lucile Packard Foundation and a $5 million grant from an anonymous foundation. This marks the third investment from the Packard Foundation since Afaxys was founded in 2008, underscoring the long-standing partnership and confidence in Afaxys’ impact-driven model. “Through our mission-based investments, Afaxys has grown into a durable and financially sustainable force in the market that will continue to actively ensure and continually expand reproductive health access for all patients, especially those served by public health providers,” said Susan Phinney-Silver, Mission Investing Director at the David and Lucile Packard Foundation.

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The new funding serves as a catalyst for growth as Afaxys continues its mission of providing millions of women in the United States access to affordable contraception. Afaxys is the only organization of its kind with an established, nationwide distribution infrastructure serving public health clinics.

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Afaxys plays a critical role in ensuring reliable supply chains for clinics that serve Medicaid and Title X patients. The funding will be used to complete the development of a novel contraceptive product, specifically designed to address the needs of marginalized communities and the more than 19 million women living in contraceptive deserts. “Access to quality reproductive healthcare has never been more critical. We are excited to partner with these esteemed foundations to further the Afaxys mission and ensure that access to reproductive healthcare is a right, not a privilege,” said Ronda Dean, CEO of Afaxys, Inc.

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Source- PR Newswire