Kemiex earns recognition and revenue

Based in Zurich, Kemiex is a premium trade network for buyers and sellers of active ingredients (APIs), additives and excipients in human and animal health and nutrition industries. At launch in 2018, over 100 companies had already registered on the platform. Today, most of the significant and trusted bulk buyers, traders and manufacturers have joined Kemiex to structure their request-for-quote process, to exchange raw materials on the spot marketplace and to get neutral market and pricing insights. Almost USD 200m worth of raw materials has been offered through the network and platform to date.

In the advent of its success journey, the startup has registered two significant milestones one of them is the receipt of the CPhI Pharma Award 2019 in recognition of its excellence in pharma under the category "supply chain management, logistics and distribution”. As the category winner, Kemiex presented the most outstanding solution thereby outcompeting other contenders, which included several incumbents and renowned companies.

Regulatory changes pave the way for accentuated oversight of agents and internet platforms
As a pioneer worldwide, Switzerland updated its regulatory landscape in due consideration of a growing ecosystem of intermediaries and innovative online solutions entering the pharmaceutical and related industries. After revision of the Therapeutic Products Act (TPA) in 2019, it now explicitly recognises broker, agency and online activities as "distribution" activities. This innovation enshrines in law Swissmedic’s existing practice of making such activities dependent on the issuing of an operating licence. The specific provisions governing these activities are set out in the Medicinal Products Licensing Ordinance (MPLO) and went into effect on July 1st, 2019.

Due to its advanced quality management system, Kemiex was not only granted an operating license but also a Good Distribution Practice (GDP) certificate on Oct 30th, 2019. This marks a quantum leap for Kemiex and Switzerland, as it is the first online trade platform ever receiving such certificate which was previously only available to companies being part of the physical and tightly regulated supply chain for pharmaceutical ingredients. Other countries and regulators such as the EMA or FDA are expected to follow Swissmedic’s approach.

Funds and partnerships planned
Kemiex’s plans include launching a Series A funding in early 2020 to scale its innovative bulk trading platform and accelerate technology development, geographical coverage and ancillary services to support the trade life cycle. Further alliances with leading companies in the relevant industries are planned.

(Press release/ran)