Pharmesol 💊

Setting the Scene

• In the US alone, over 4 billion prescriptions are dispensed annually. 👩🏽‍⚕️

• Yet, countless patients are left puzzled over medication instructions, missed dosages, and navigating potential side effects.

• To find answers, many are left chasing callbacks from their busy doctors or even taking that trip back to the pharmacy. 🤦🏼

• This week's company provides an AI platform that assists patients in managing and understanding their medications.

In a Sentence

Pharmesol is an AI-driven software that enables healthcare providers to automate medication management.

• Automate: Pharmesol’s software provides 24/7 automated SMS dialogues, ensuring continuous guidance about medications.

• Management: Pharmesol clarifies directions, helps patients recognize side effects, and directs major concerns to medical experts.

The Basics

• Industry: Healthcare Tech, AI, Telemedicine

• Headquarters: NYC 🗽

• Year founded: 2023

• Employee count: 4

• Investors: Entrepreneurs Roundtable Accelerator, 77xyz

• Amount raised: $220k

• Currently raising: Pre-seed round

• Business model: B2B SaaS, per patient per month

• Early traction: Signed first SMB customer and contracting with a few others.

IN PARTNERSHIP WITH

• VCs haven’t stopped investing in early-stage startups — they’ve simply shifted what they are looking for.

• When the market gets tough, investors become laser-focused on these key metrics. If you’re a founder looking to fundraise, you should be too.

• In this article, Mercury shines a light on the metrics that matter more than ever to investors.

• Get the inside scoop and get closer to realizing your startup's ambitions.

  Read the article

Due Diligence

WHAT WE LIKE

• 📈 Market positioning: With a rising emphasis on minimizing medication errors, the medication management system market is set to continue growing rapidly.

  • Pharmesol is positioned to support the 75% of patients who struggle to manage and take their medications as directed.

• ⚙️ Pharmacy efficiency: Pharmesol boosts operational efficiency through 24/7 management, improved patient adherence, and customer loyalty, while alleviating overstretched pharmacy staffs.

• 🤝 Ecosystem advantage: Pharmesol optimizes operations and insights across patients, pharmacies, clinicians, insurers, and pharmaceutical companies, unlocking new revenue opportunities and ecosystem-wide savings.

  
  

POTENTIAL RISKS

• 🚫 Liability concerns: Any misinformation or drug misuse as a result of information shared by the platform could pose significant liability risks for pharmacies and their clinicians.

• 🕰️ Training the model: Thoroughly training the AI for the vast array of medications, conditions, and patient types may be both costly and time-intensive.

• 📚 Learning curve: As healthcare providers and patients adopt Pharmesol, there could be a learning phase — both for how to use the software and recognizing when hands-on intervention is necessary.

Founder Profiles

• Natalie Park, CEO: Previously implemented clinical and operational programs while working at Geisinger and holds a Doctor of Pharmacy degree.

• Batman Feldman, CTO: Previously worked as a software engineer at numerous high-growth startups as well as Amazon.

• Saumya Rawat, CPO: MIT clinical machine learning engineer and previously worked at a medical data labeling startup and as an engineer at Peloton.

Comps

• Illuminate.health: Backed by Plug and Play.

• Converse Health: Undisclosed.

• Medisafe: Backed by Sanofi Ventures, Octopus Ventures, M Ventures, Pitango VC, Triventures, lool ventures, and others.

• Neurality Health: Undisclosed.

📌 Bulletin Board

IN PARTNERSHIP WITH

• 🤖 Wonder how the US Air Force and Army are integrating innovative AI into their work? Avawatz’s ARYA platform. 

  • With an $15M+ sales pipeline and over $2M in R&D funding, AvaWatz is creating a platform for the scalable teams of mixed-ability robots. Invest in their growth here.*

• 😳 This week in venture: The UK launched a £1 billion fintech fund.

• 💡 The innovation situation: Funding for early-stage AI companies is at an all-time high.

  *This is sponsored content.

🗳 Cast Your Vote

Last Week Today

• The votes are in: E-Nano, a robotics and software company to help grounds keepers ensure optimal field conditions, was favored.

• Subscriber feedback: “This is a market I didn’t even know needed disruption. The scalability of this product is incredible!”

 🎉 You’re invited

• We’re hosting an event for #NYTechWeek and you’re invited! This is going to be one of the largest events of the week. Click to register below. 👇

✍️ Written by Brett and Juliana

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