Medscrape is the first end-to-end healthcare key opinion leader discovery, engagement, and management platform designed for medical affairs professionals across the global healthcare ecosystem.
Current Status
In the last 4 months, we’ve joined Techstars accelerator, onboarded our first customer, generated 45K in revenue this month alone, have closed 5 LOIs totaling 185K with 22 more customer in our pipeline, were selected as the Top 200 most innovative company at TechCrunch, built the top NLP algorithm for text summarization on Hugging Face that surpassed Google & Facebook, and recently completed two pilots with a large life science consulting firm with the promise of more projects in the future. We are actively raising our seed round.
Problem or Opportunity
Launching a drug costs billions of dollars and is very risky. Firms such as Sanofi, Pfizer, and GSK still implement antiquated processes, having their Medical Affairs teams scour through thousands of Publications, Clinical Trials, News Articles, Twitters, and Podcasts manually to identify and engage with key opinion leaders whose involvement is critical for successful product launches and development. Medscrape improves and automates this workflow for medical affairs, making it easier for pharma organizations to connect with experts, deliver insights, and bring products to market faster.
Solution (product or service)
Medscrape aims to be the new command center for life sciences by bringing modern workflow technologies and breaking down inveterate structures for managing healthcare data. Medscrape leverages cutting-edge natural language processing technology to analyze and structure data from both internal and external sources into actionable insights. Medscrape’s platform (which aims to do what Bloomberg did for the financial industry and what Lexis Nexis did for the legal industry) will save small and large life science and medical device companies up to 45% of time finding and engaging with experts.
Business model
Medscrape plans to have a simple platform pricing model per organization. That being said, as there are three customer profiles within this industry-- startups (Pre-seed to series A), medium pharma companies (Series B and C), and large pharmaceutical organizations-- pricing will vary depending on the needs and different willingness to pay of the customers. Current competitive solutions have ACVs of between $225K to $450K per year. Our pricing will be from freemium to our enterprise tier which will cost ~$8,500 per month.
Incubation/Acceleration programs accomplishment
Techstars powered by JP Morgan (September - December 2022)
