AxmedRx

About AxmedRx

AxmedRx, a Public Benefit Corporation founded in 2023, operates a business-to-business digital marketplace designed to address critical medicine accessibility issues in low- and middle-income countries (LMICs). Headquartered in Basel, Switzerland, and with an office in Boston, the company was co-founded by Emmanuel Akpakwu (CEO), Felix Ohnmacht (CCO), and Sofía Radley-Searle (COO). The founding team possesses significant experience in the pharmaceutical sector, with Akpakwu having served as the former chief commercial officer for Novartis in sub-Saharan Africa, and both Ohnmacht and Radley-Searle holding senior roles at Novartis and GSK, respectively. Akpakwu's firsthand experience growing up in Nigeria fueled his determination to solve the medicine accessibility challenges prevalent in the region.

The core of AxmedRx's business model is a two-sided platform that aggregates demand for medicines from various healthcare providers, including governments, NGOs, and private entities in developing nations. By pooling these smaller orders into a single, large-volume request, the company creates the scale needed to attract global pharmaceutical manufacturers. This approach strengthens the purchasing power of buyers, enabling them to procure high-quality, essential medicines at more transparent and affordable prices. The platform initially focuses on serving customers in Kenya, Tanzania, Rwanda, Ethiopia, and Nigeria. AxmedRx's initial emphasis is on maternal, newborn, and child health (MNCH), a sector where it aims to mitigate healthcare disparities and fortify the medical supply chain. Beyond its marketplace, the company also offers advisory services to help pharmaceutical companies devise and implement market expansion strategies for LMIC regions.

Financially, AxmedRx has garnered significant backing. In October 2023, it was awarded a substantial grant from the Bill & Melinda Gates Foundation to deploy and expand its marketplace, specifically targeting the MNCH population in sub-Saharan Africa. This was followed by a $2 million seed funding round in May 2024, led by Founderful Ventures, to support team growth and technology infrastructure development in Africa and the Caribbean. The company also secured further funding from the Gates Foundation in September 2024 to establish an inventory financing facility, improving liquidity for buyers of critical MNCH medicines.