Annexus Health Fuels Expansion with Close of $10 Million Series A Funding Round
Annexus Health, the company behind the cloud-based financial assistance cycle management platform AssistPoint, has recently closed a $10 million funding round. The funding round was managed by North Point Advisors.
“With this new round of funding, we have begun aggressively expanding our talented team across all ends of the organization. We are focused on further optimizing our market-leading financial assistance cycle management suite of products and services, beginning to solve for additional administrative burdens, and—most importantly—helping more patients across multiple disease states,” said Brad Frazier, Co-Founder, President, and COO of Annexus Health. “Within the next couple of weeks, our team will more than double, with a comprehensive plan to continue to dramatically scale to meet the growing demand from providers and life science organizations who believe in the impact of our platform and our offerings.”
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In the current Covid-19 environment, the need for a cloud-based platform to help with navigating the patient assistance journey has become even more critical to ensure patients obtain timely access to treatment with less financial toxicity.
Life science organizations have been increasingly recognizing the need to integrate their patient support programs directly within the provider workflow through AssistPoint. Most recently, Annexus Health launched several integrations including BeiGene and Coherus Biosciences, Inc. and has several additional integrations launching soon, including Sanofi Genzyme, Amgen, and MorphoSys.
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“The close of this funding round catapults the Annexus Health quest to comprehensively improve the management of the patient care journey. Our vision is deep market penetration across oncology and several other complex specialties, with an agnostic approach that enables all providers and, more importantly, their patients to benefit from the revolutionary end-to-end (full cycle) approach we take to solving problems,” said Joe Baffone, Annexus Health Co-Founder and CEO. “Our team is and will be the reason this is all possible. We have been and are attracting the most incredible people. The funding will allow us to continue enhancing our team with those driven to and capable of making a difference in the lives of patients.”
Furthermore, global pharmaceutical services company AmerisourceBergen recently announced the collaboration between Annexus Health and ION Solutions and IPN Solutions, two of the nation’s largest physician service organizations and GPOs focused on supporting independent, specialty-care providers. ION and IPN will now offer AssistPoint to its members which will support the exposure and utilization of the platform among community oncologists and other specialty physician practices nationwide.