AAA Corporate-backed Auxogyn merges with Fertility Authority

Corporate-backed Auxogyn merges with Fertility Authority

US-based women’s reproductive health company Auxogyn has merged with US-based fertility technology provider Fertility Authority to form Progyny, raising funding from pharmaceutical companies GlaxoSmithKline and Merck Serono in the process.

The respective corporate venturing units of GlaxoSmithKline and Merck Serono, SR One and Merck Serono Ventures, were joined by other existing Auxogyn backers including Kleiner Perkins Caufield & Byers (KPCB) and TPG Biotech.

The size of the funding round has not been disclosed, but a regulatory filing for Auxogyn dated March 2015 suggests it could be sized at $34.3m. The capital will be used to support the merged company’s growth.

Progyny runs an online marketplace for families seeking fertility services. The platform provides patients access to doctors and their services, as well as price comparisons. Progyny will also market Eeva, a non-invasive, prognostic test to assess embryo milestones.

The company’s investors previously backed an $18m series B round for Auxogyn in June 2012, while Merck Serono Ventures, TPG Biotech and KPCB also provided $20m for a series A round in February 2012.

Auxogyn raised an addiitonal $6m in debt and equity funding in 2013, according to regulatory filings. Fertility Authority secured $1.2m in growth capital the same year from undisclosed backers.

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