ARTiFACTS is a San Diego-based startup that has developed a SaaS technology platform for mitigating substandard and falsified prescription pharmaceutical products in the supply chain. In this Startup Showcase, we will explore ARTiFACTS’ mission, its flagship product Verify, and how it is helping to reduce the incidence of substandard and falsified drugs in the pharmaceutical supply chain.
Mitigating Substandard and Falsified Drugs: A Global Problem
Substandard and falsified drugs are a global problem that affects both developed and developing countries. The World Health Organization estimates that around 1 in 10 medical products in low- and middle-income countries are substandard or falsified. These drugs can be ineffective or even harmful, leading to illness, disability, and death.
In addition to the health risks, substandard and falsified drugs also pose a financial problem, with an estimated global market value of $30 billion. The problem affects all stakeholders in the pharmaceutical supply chain, including manufacturers, distributors, regulators, and patients.
ARTiFACTS’ Mission: Enabling Solutions for the Global Problem of SF Drugs
ARTiFACTS’ mission is to enable solutions for the global problem of substandard and falsified drugs. The company has developed a SaaS technology platform called Verify, which integrates systematic screening of the ingredients contained in medicines with chain-of-custody and secured provenance of all scientific and operational data.
Verify: Fast, Trusted, and Transparent Targeted Intelligence
Verify is a cloud-based information management system that provides fast, trusted, and transparent targeted intelligence that regulatory authorities and other stakeholders rely on to remove substandard and falsified products and their suppliers from the market. Verify’s primary benefits are high-volume processing of medicine samples, accurate and trusted results for mitigation actions by stakeholder organizations.
Verify is unique in integrating scientific and operational supply chain data to address the global problem of substandard and falsified drugs. Scientists and researchers use Verify as a distributed laboratory notebook to capture, analyze, secure, and report data findings. Commercial and non-profit clients use Verify to detect, intervene, and remove substandard and falsified drugs from the market.
Partnerships and Funding: Driving Growth and Expansion
ARTiFACTS has already achieved several key milestones in the development and deployment of Verify. The company has completed a successful pilot with the University of Notre Dame, which is deploying Verify in production use across its international network. ARTiFACTS has also invested $1.4 million in the development of Verify.
ARTiFACTS is now seeking capital to support the commercial expansion of Verify. The company plans to use the funding to drive growth and expansion by hiring additional staff, expanding its marketing efforts, and enhancing its technology platform.
ARTiFACTS is a startup that is tackling a global problem by providing a SaaS technology platform for mitigating substandard and falsified prescription pharmaceutical products in the supply chain. Its flagship product, Verify, is a cloud-based information management system that provides fast, trusted, and transparent targeted intelligence that regulatory authorities and other stakeholders rely on to remove substandard and falsified products and their suppliers from the market.
ARTiFACTS has already achieved several key milestones in the development and deployment of Verify, including a successful pilot with the University of Notre Dame. With its focus on addressing a global problem and a clear roadmap for growth and expansion, ARTiFACTS is a startup to watch in 2022 and beyond.
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