Axmed

About Axmed

Axmed AG, founded in 2023, operates a business-to-business marketplace designed to improve access to medicines in low- and middle-income countries (LMICs). The company is headquartered in Basel, Switzerland, after initially establishing an office in Boston. The founding team, with over 30 years of collective experience, includes CEO Emmanuel Akpakwu, CCO Felix Ohnmacht, and COO Sofia Radley-Searle. Their backgrounds in major pharmaceutical companies like Novartis and GSK, and in public-private partnerships, inform the company's mission to address global healthcare inequities. Akpakwu’s personal experience growing up in Nigeria provided a firsthand perspective on the critical need for reliable access to medicine. The concept for Axmed was developed by the founders during their studies at Harvard.

The core of Axmed's business is its technology platform that connects healthcare providers—such as governments, private entities, and non-governmental organizations—directly with prequalified pharmaceutical manufacturers. This model addresses the challenge that LMICs represent over 90% of the world's disease burden but only 6% of global pharmaceutical sales. By aggregating demand for both patented and off-patent medicines, Axmed creates larger, more cost-effective order volumes. This enhances the purchasing power of buyers, enabling them to secure better prices and availability while allowing manufacturers to expand their presence in underserved markets. Clients have reported savings of over 25% on pharmaceuticals and logistics. The platform streamlines the procurement process by consolidating requests for proposals and managing supply logistics.

Axmed's revenue is generated through its marketplace activities, which facilitate the sourcing and supply of medicines. In addition to its marketplace, the company offers Axmed Global Health Advisory, providing consultancy services to help pharmaceutical companies, governments, and other organizations develop effective access strategies for LMIC regions. The company has secured significant funding, including a $5 million grant from the Bill and Melinda Gates Foundation and a $2 million seed round led by Founderful, bringing its total raised funds to $7 million. These funds are allocated to expanding its engineering and commercial teams and enhancing its technology infrastructure for launches in African and Caribbean markets.