ATLANTA – Genexa has just completed its unprecedented $60 million Series A of funding to advance its market leadership in this emerging space. Marking a seminal development in the consumer healthcare industry, Genexa’s oversubscribed campaign was the largest Series A ever raised for an O-T-C medicine company, substantiating the dramatic shift of consumers looking for cleaner options. Initially seeking $25 million in capital, Genexa upsized the round because of the caliber of the investors and celebrities that wanted to be involved in spearheading the creation of a cleaner and more transparent medicine aisle.
“Genexa is pioneering a powerful movement that will revolutionize the over-the-counter drug industry in the years to come,” notes Brian Perkins, Genexa chairman and former worldwide chairman of Consumer Pharmaceuticals & Nutritionals at Johnson & Johnson. “In an industry ripe for disruption, Genexa is bringing long-overdue formulation improvements with high-quality ingredients and setting an entirely new standard and level of transparency in OTC medicines.”
Jared Stein, co-founder and managing partner of Monogram Capital led the round and was joined by some of the world’s most well-regarded investors, including Unilever Ventures, Verlinvest, Northcastle Partners, and Point King Capital. Joining this prominent investor group was an equally powerful roster of celebrity wellness advocates, including Gwyneth Paltrow, Chris Pratt, Katherine Schwarzenegger, Donald Glover,Lily Aldridge, Jennifer Meyer, Regina Hall, Sanaa Lathan, Don Cheadle, Bridgid Coulter, Lana Parrilla,Patrick Schwarzenegger, Tony Kanal, Zoey Deutch, Brandon Shainfeld and Angela Fletcher.
“Genexa is heralding in a sea change moment in medicine, giving consumers access to the first clean, better-for-you, efficacious option ever in the OTC market. Consumers have demanded better in all other facets of their lives, and with Genexa, they can finally do the same in their medicine cabinets,” said Stein. “We couldn’t be prouder to support David and Max’s mission to spearhead this generational category shift.”
Founded by David Johnson and Max Spielberg, two dads with a personal mission to find better medicine for their families, Genexa offers cleaner, effective OTC medicines spanning all traditional categories of OTC medicine, including pain and fever, cold and flu, and digestion and allergy, with products for infants, kids and adults alike.
Genexa’s innovative, patented preservative system has enabled the company to set a new global standard for the industry, becoming the brand of choice for consumers seeking a healthier lifestyle. Genexa products have the same effective active ingredients as the category leaders but for the first time ever, without the unnecessary and potentially harmful fillers found in most other traditional OTC offerings. Their “Ex List,” the list of unnecessary ingredients that are often found in other brands that will never be found in Genexa formulas, includes sorbitol, propylene glycol, artificial dyes, synthetic binders, talc and common allergens like gluten and lactose.
Genexa’s products are available at over 45,000 retailers nationwide including Walmart, Target, CVS, Kroger, Target, Walgreens, Whole Foods and Sprouts, as well as online at Genexa.com and Amazon.
Along with pharmaceutical industry veterans like Perkins, the company has assembled a respected Medical Advisory Board consisting of leading experts.
“We did not accept the feedback we got from countless manufacturers who told us that artificial binders and fillers were necessary in OTC medicines to keep them shelf stable, so we set out to bring together the leading medical experts and business minds in the industry to create a better solution,” said Genexa Co-Founders Johnson and Spielberg. “Through the innovative products we are creating and the breakthroughs we’ve made with OTC medicines, we hope to inspire others in the industry to further our mission to clean up the medicine aisle and offer cleaner, healthier solutions for everyone.”