Maxogen Group LLC with support from WeFund Health successfully closed a financing round

NEW YORK, Oct. 18, 2017 /PRNewswire/ -- Last month Maxogen Group LLC, producer of the Bite Helper, a revolutionary drug-free wellness device designed to work on neutralizing itch and irritation from insect bites, successfully closed its current financing round. With infusion of European VC private capital, Maxogen Group intends to continue expansion of Bite Helper's rapidly growing market, as well as introduce new product lines. 

Successful transaction closing resulted from active and consistent fundraising efforts by the Maxogen team. The company attracted advisory support of several groups including We Fund Health – an investment marketplace for transformational innovations in health and wellness.  

Eugene Zabolotsky, CEO of Maxogen Group: "Response to our first domestic campaign for the Bite Helper has exceeded all expectations. Bite Helper has achieved high levels of acceptance and publicity in summer 2017, reaching over 100 million viewers through TV, radio and social media, which has resulted in domestic sales exceeding 2000 units per week. We are also impressed with the launch of the Bite Helper into the Asian market witnessing sales comparable to those in the US.

We are grateful for WeFund Health's support and advice and look forward to productively working together to further develop our business."

In order to capitalize on the upward momentum for the product, Maxogen will channel a significant part of the financing into new marketing channels for the Bite Helper, as well as the increase in research and development funding to bring a range of new products to their portfolio that are based on the company's proprietary Thermo-Pulse-Technology platform, already powering the Bite Helper.

"Bite Helper is a great example of a successful path of a startup driven by a strong executive team. Our platform was happy to provide advice to the leadership of Maxogen Group as they successfully laid the foundation for Bite Helper on the domestic and international markets," says Givi Topchishvili, WeFund Health Founder and CEO.

About Maxogen Group LLC: Maxogen Group LLC, is an FDA registered medical device manufacturer that produces and commercializes its innovative health and wellness products. Maxogen Group's first product the Bite Helper™ is a revolutionary wellness device that is designed to work on neutralizing itch and irritation caused by insect stings and bites from mosquitoes, flies, bees, wasps, and ants. 

About WeFund Health: WeFund Health is a disruptive health technology investment platform that intelligently matches HealthTech opportunities with qualified investors and healthcare innovation centers around the world. WeFund Health provides a transparent vehicle for deal assessment in a controlled environment, matching each investment opportunity to the right investor(s).

Media Contact: Moish Soloway: +1.866.203.7217.

SOURCE WeFund Health