Axmed Secures $2M to Transform Drug Chains in Underserved Markets

Axmed: Bridging Supply Chain Gaps for Essential Medicines

• Approximately 2 billion people, particularly in lower and middle-income countries, lack access to quality and affordable essential medicines.
• The situation is worsened by counterfeit drugs, leading to preventable diseases and even deaths.

1. Axmed’s Solution:
   • Axmed aims to fix supply chain inefficiencies by linking manufacturers directly with health institutions.
   • The startup aggregates demand, enabling buyers to source drugs directly from manufacturers at lower costs.
   • Axmed seeks to move away from traditional pharmaceutical supply chains with multiple intermediaries.
2. Target Markets:
   • Axmed focuses on countries like Kenya, Nigeria, Ethiopia, Tanzania, and Rwanda.
   • Initial inroads will be made through faith-based institutions, NGOs, government-led care providers, and procurement agencies.
3. Regulatory and Legal Criteria:
   • Both sellers and buyers on Axmed’s marketplace must meet multiple regulatory and legal requirements.
4. Headquarters and Funding:
   • Axmed is headquartered in Switzerland.
   • The startup recently secured $2 million in seed funding from Founderful Ventures.
   • It also received a $5 million grant from the Bill & Melinda Gates Foundation for maternal and child healthcare.
5. Aggregation Model:
   • Axmed aims to strengthen buyer power by aggregating orders.
   • The goal is to create an attractive market opportunity for high-quality manufacturers.
6. Long-Term Sustainability:
   • Unlike emergency-driven initiatives, Axmed aims to build a sustainable, long-term operation.
   • The focus is on empowering buyers and patients while facilitating effective engagement for manufacturers.
7. Market Visibility:
   • Axmed’s platform provides visibility into market sizes and real potential.
   • Manufacturers can better understand these regions and engage effectively.
8. Leadership:
   • Emmanuel Akpakwu (CEO) co-founded Axmed with Felix Ohnmacht and Sofia Radley-Searle.
   • Akpakwu’s experience as the Chief Commercial Officer of Novartis’ sub-Saharan Africa region informs the startup’s approach.
9. Industry Landscape:
   • Axmed joins other platforms like Africa Medicines Supply Platform and Xs2Meds.
   • Healthtech firms like Drugstoc and Remedial Health are also digitizing the pharmaceutical supply chain.

In summary, Axmed’s innovative approach aims to create a sustainable marketplace that benefits both buyers and manufacturers, ultimately improving access to essential medicines in underserved regions.