American consumers continue to pursue healthier eating habits that has them actively seeking out information about what is in the food they eat. Their desire to make more informed decisions about their own personal diets is now being transferred to medications as well. Seeing this ongoing and evolving health mindset, consumer healthcare startup Genexa has introduced formulation improvements with high-quality ingredients that meet the changing expectations of consumers.
The world’s first clean, over-the-counter pharmaceutical company just completed an unprecedented $60 million Series A raise, enabling it to claim market leadership in this emerging space. The startup’s oversubscribed funding campaign reflects how firmly established healthcare wellness is in consumer’s purchasing decisions and the opportunity it offers entrepreneurs and investors. The consumer healthcare startup initially sought $25 million in capital, but upsized the round due to the very high response that included top echelon investors and celebrities
“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.”
Celebrities and wellness advocates participating in the raised includes 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.
On the investor side Jared Stein, Co-Founder and Managing Partner of Monogram Capital, led the round. Highly regarded investors who joined in the round include: Unilever Ventures, Verlinvest, Northcastle Partners, and Point King Capital.
“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 Monogram Capital Co-Founder and Managing Partner Jared Stein. “We couldn’t be prouder to support David and Max’s mission to spearhead this generational category shift.”
Founders David Johnson and Max Spielberg, both dads, shared the common mission of finding better medicine for their families, spurring a “Clean Medicine Movement”. Their inaugural healthcare line of innovative clean OTC medications include: pain and fever, cold and flu, and digestion and allergy, with products for infants, kids and adults alike. Their list of unnecessary ingredients includes: sorbitol, propylene glycol, artificial dyes, synthetic binders, talc and common allergens like gluten and lactose.
The consumer healthcare startup’s patented preservative system enabled Genexa to set a new global standard for the industry and be the brand of choice for consumers seeking a healthier lifestyle. All of their products are manufactured according to FDA guidelines and are Non-GMO Project Verified and gluten-free. They are now carried in over 45,000 retailers nationwide.
“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.”
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