Over-the-counter medication firm Genexa Inc. raised $60 million of funding from venture-capital companies and celebrities together with Gwyneth Paltrow and Don Cheadle. The spherical values the corporate at roughly $200 million.
The corporate is the newest to capitalize on the so-called clean-health and wellness development, on this case lowering artificial components in ache and fever, chilly and flu, and allergy medicines for kids and adults.
Genexa’s medicines include the identical energetic components as different over-the-counter choices, and they’re manufactured in accordance with Meals and Drug Administration tips. The important thing distinction, the corporate says, is that it has changed the everyday fillers with a patented preservative system that is freed from synthetic dyes and customary allergens.
It’s getting into an area dominated by behemoths—together with Johnson & Johnson and GlaxoSmithKline PLC—and successful market share is an uphill battle, an idea that isn’t misplaced on the 2 co-founders, David Johnson and Max Spielberg. Neither has a medical background, however they introduced on Brian Perkins, a former Johnson & Johnson government, as chairman.
“The industry that we’re disrupting is a massive industry,” stated Mr. Johnson. “For us to really effect change, capital is required.”