Personalising medicine. How the Ukrainian startup Apixmed works
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In our recurring Who Are These People segment, Vector offers founders the opportunity to discuss their projects, covering aspects such as their products, marketing strategies, monetisation, investments, and business plans. The focus this time is on Apixmed, a Ukrainian startup, which created a platform to transform medical and genetic data into customised health roadmaps to guide patients toward optimal treatment, prevention, and well-being.
Editor-in-chief Yuliia Tkach interviewed Maryna Korshevniuk, Apixmed’s CEO and co-founder, about the product’s features, promotion, investments, and plans.
Conception
Apixmed has three co-founders.
- Maryna Korshevniuk. With a PhD in personalised medicine and multiomics, she has extensive experience processing medical and genetic data to develop innovative healthcare solutions.
- Yevhenii Gavryliuk, CTO. He leads the design and implementation of the technical infrastructure of the platform. His extensive expertise in software development and integration systems empowers Apixmed to guarantee the reliability, scalability, and security of its solutions while efficiently handling large data sets.
- Andrii Nevzorov. A software engineer and mathematician by training and specialist in algorithms and data analysis, Nevzorov focuses on enhancing Apixmed’s algorithms to boost the accuracy and speed of decision-making processes.
The founders have been friends for approximately 10 years, having first met during their studies. Their shared passion for technology and science became the cornerstone of their communication and friendship. The idea to develop a personalised medicine app arose amidst the challenges of the COVID-19 pandemic. Developed in late 2021, the concept underwent several iterations before its launch at the end of 2023.
The aim is to enable doctors to make rapid and accurate decisions by analysing patients’ medical histories and genetic data while empowering patients to comprehensively process their medical and genetic information for better health management.
The team consists of seven key members and four advisors. The core team includes professionals in engineering design and product development. Medical professionals are invited to collaborate on various joint projects.
Product and audience
Apixmed is a smart platform for personalised medicine, using artificial intelligence and big data to deliver tailored recommendations based on patients’ medical and genetic profiles.
- The platform is accessible through its website and can be integrated upon request.
- After uploading medical and genetic data, users (patients, doctors, or healthcare institutions) permit the system to analyse the information.
- Drawing from the results, the platform generates customised treatment recommendations, examining the relevance of the treatment, the potential for personalisation, and unique strategies for preventing relapses or related conditions.
- We kicked off the process by developing a product concept, before moving on to create a prototype focused on user-friendliness and analytical precision. The product has been subjected to multiple testing phases, including:
- Pilot projects with medical institutions and clinics to test the effectiveness of algorithms and the usability of the interface.
- Feedback from doctors and patients to enhance the platform’s functionality and increase the precision of the results.
- Clinical trials involving patient groups to evaluate the efficacy of recommendations.
We are currently engaged in the process of scaling our product. We have several B2B clients actively using the platform, and we are focused on enhancing this further, all while exploring new markets and expanding the product’s functionality. We are set to roll out new services, offering personalised prevention and real-time health monitoring options.
Over 7,000 patients in Ukraine have already benefited from customised recommendations from Apixmed. Our pilot projects launched in five clinics resulted in positive feedback from healthcare professionals. We are focused on expanding our potential client base to the US market», — says Maryna Korshevniuk.
Designed for medical practitioners, clinics, laboratories, and patients with complex chronic pathologies, this product addresses conditions like cardiovascular diseases and other serious health issues that require tailored treatment strategies.
According to Korshevniuk, the product is intended to solve multiple problems.
- Complex chronic conditions. It is important to acknowledge individual factors that can impact the efficacy of treatment for patients dealing with chronic pathologies like cardiovascular diseases, diabetes, or cancer. Our solution helps healthcare professionals formulate customised treatment strategies by taking into account symptoms, genetic information, medical history, and other relevant health factors.
- Personalised treatment. Conventional treatment methods frequently overlook patients’ individual characteristics. With our platform, doctors can make better-informed and more accurate decisions, enhancing the efficacy of therapy and minimising the risk of complications.
Personalised medicine enhances treatment efficacy and reduces the financial burden of chronic disease management by minimising the use of ineffective interventions. This is vital for individuals living with serious health conditions, as well as for healthcare organisations striving to reduce costs and achieve better treatment results.
Currently operating in Ukraine, Apixmed sees the US as the best market for its expansion efforts:
«Health problems associated with cardiovascular diseases and metabolic syndromes are among the foremost challenges confronting the healthcare system in that region. The USA demonstrates a strong interest in personalised healthcare services and effective management solutions for patients dealing with chronic conditions.
In addition, a large number of healthcare facilities in the US are using big data and AI technologies to optimise their medical services. The market is well-prepared for these innovations, and we are convinced that our product can be a fundamental resource for healthcare providers and patients in need of personalised care».
Business model and marketing strategy
Apixmed operates under the B2B SaaS model. Access to the platform is offered to medical institutions, clinics, and laboratories on a subscription basis. We offer the following subscription plans.
- Starter — this plan offers basic access to the platform’s functions for $500 per month. It is limited to a certain number of patients. Active users can receive reports of their medical records and existing treatment strategies for $2 each.
- Genetic — this plan provides access to the interpretation of genetic files for $1,000 per month. It is limited to a specific number of patients, with patient reports available from $35 each. These reports include specific categories relating to diseases and pharmacogenomics.
- Individualised — This plan designed for large healthcare facilities or specialised clinics and provides customised features and additional support.
The team is presently dedicated to fostering organic growth and implementing direct sales tactics to advance product promotion. According to Maryna, this approach facilitates more effective engagement with prospective users and customers, allowing evaluation of the demand without the need for advertising costs.
«Through content marketing, we create valuable resources that raise awareness of personalised medicine and our innovative solutions. Our team generates articles, blogs, scientific publications, and informational materials that emphasise the benefits of personalised care for patients with chronic conditions, including cardiovascular diseases. This helps us build trust among medical professionals and patients keen on discovering new solutions.
Through our organic content efforts, we have boosted traffic to our website and platform and in the process attracted new potential users.
In terms of direct sales, we connect with clinics, physicians, medical laboratories, and other institutions, introducing the product through personal meetings, presentations, and demonstrations.
This enables us to forge strong partnerships with potential users and gather insightful feedback on the product.
The effectiveness of our initial strategy is underscored by the success of our direct sales efforts, as reflected in the multiple agreements we have secured with medical clinics and laboratories.
We plan to steadily expand our marketing channels, focusing on targeted advertising and participation in international conferences to ensure even greater growth and broader reach».
Investments
Overall, alongside the founders’ personal investments, the project has received approximately 50,000 euros in grants from Seeds of Bravery and EIT Innostars. They plan to initiate a seed round to speed up product development and facilitate market entry in the US, although the amount has not been made public.
Plans
«In the near term, we plan to:
- Enter the US market, focusing primarily on cardiovascular diseases and other complex health issues, where a customised approach can have a profound impact. To this end, we intend to develop strategic alliances with healthcare institutions and laboratories in this region.
- Promote optionality and expand technological scalability. Our team is actively working to enhance the platform by adding new functionalities for the analysis of medical and genetic data, as well as optimising algorithms for better prediction and treatment outcomes. We will also prioritise efforts to broaden our integrations with other medical systems to facilitate scalability and enhance user experience.
- Draw in investment to support the expansion and ongoing enhancement of the product. We are looking for investors who share our belief in the transformative potential of personalised medicine and are ready to help us navigate our path to global success.
- Streamline communication with customers. We will keep refining the user feedback strategy on our platform to achieve greater customisation of features according to users’ needs and improve their overall interaction with the product. This will involve establishing new communication channels and enhancing collaboration with our current partners and healthcare professionals.
- Expand the team. We are seeking new specialists in product development, sales, and marketing.
The principal goal is to become the leading data-driven platform for genetic and personalised medical care decision-making, reducing the burden on healthcare systems, increasing treatment efficacy, and enhancing the quality of life for individuals globally.
We recognise the immense potential of personalised medicine and are committed to making these technologies available to every patient worldwide», — summarises Korshevniuk.
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