Same from here - both 25 and 465 ports are not opened on 165.227.164.92 (at least not when testing from my home).
As you have also tested from your side (with telnet) it just means that from your server you do not have network connectivity to that IP address. This could means that a firewall (local / upper level) or an access restriction rule may prevent you from connecting to that relay.
From your side you could only ask their support team why you could not connect and they will be able to provide the root cause so you could relay the messages there.
OK - so your newsletter software will send the message to Axigen. Axigen will deliver to Internet - right?
If this is the case than in WebAdmin > Security & Filtering > Routing Basic settings > Outgoing delivery setting you should set Deliver through DNS MX entry.
Otherwise please provide more details regarding the setup you have configured as there is no explanation of why Axigen will route messages via 165.227.164.92 instead of delivering them to the remote MX servers.