Category: Updates

Market research shows emerging market mobile advertising growing rapidly

JBB Research, a leading market analysis company in the mobile space, just released its newsletter on mobile advertising in international markets. As our MPATM technology provides brand owners and marketers with a dedicated conduit to send timely and relevant ads, we are keen on discovering advertisers’ interests in emerging markets.
The African market may have leapfrogged internet advertising and gone straight for mobile advertising. According to JBB:

The South African market is one of the most mature and advanced mobile advertising markets in Africa as the associated response rates for mobile ad campaigns (10% to 25%) are much higher than the associated rates (1-2%) for traditional online advertising campaigns.

As chief marketing officers craft strategies for cash-based societies, it pays to note that to get 10x better results on your electronic media campaigns, you should go mobile.

Also, digital advertising goes down, mobile advertising is up:

As Mike Wehrs, Former CEO of the Mobile Marketing Association (MMA) pointed out to me, 2009 has been the best year ever for the mobile advertising industry, with 2 to 4 times more activities than the previous years. According to Mr Wehrs, there is also a shift in advertising spent from digital to mobile, with a 20% YoY decrease in digital advertising spending Vs a 20% YoY increase in mobile advertising spending. — JJB Research

We will let you know when we launch our ad serving platform for the international market. If you’re in Nigeria and you’re thinking about starting a mobile campaign, send us your thoughts. We can help.

Partnership for Safe Meds commends NAFDAC for adopting SMS technology

In the most recent Partnership for Safe Medicines (PSM) newsletter update, we note that the article features NAFDAC’s use of our MPATM technology in their new, free-to-consumer Mobile Authentication Service (MAS).

“NAFDAC’s use of SMS is a wonderful example of how technology can be used to protect patients and thwart illicit drug channels,” said PSM’s Vice President Bryan Liang, MD, PhD, JD. “In fact, SMS is one of the recommendations we relayed to the U.S. FDA last month-it’s also an excellent method by which to reach healthcare providers and affected patients about drug recalls and counterfeit warnings.”

We are excited to see such validation from a key advocate for safe drugs worldwide.

Recent media coverage

Today has been an extremely busy day at the Sproxil offices. In addition to the piece in the Wall Street Journal we also got coverage by Venture Capital Dispatch and by Reuters. Today Reuters posted a video interview we gave a while back, but they had to take time to properly edit it. Reuters also included an image and link for the video in their daily update email to all their subscribers.
We’re very excited about the coverage and happy that people outside of the developing world are learning more about the counterfeit problem that we are trying to address. It also seems to have generated interest from some potential business partners, investors and customers too, so we might not be able to post as often as we like for a bit, but don’t worry that’s a good thing for all of us – especially consumers in the developing world.

Studies show alarming prevalence of sub-standard medication in Africa

Only months after the The US Pharmacopoea (USP) assisted in the discovery of fake antimalarials in Ghana, a West-African nation, major studies are now beginning to reveal the true depth of the drug quality problem. Recent studies have shown that almost half of the antimalarials in Senegal are substandard. The drugs tested in Senegal failed standard pharmacovigilance tests that determine the quantity and quality of active pharmaceutical ingredients (APIs) and physical drug properties, such as dissolution. Failing an API test means that the patient could be taking a placebo, or even worse, a drug tainted with toxins.
The consumer in Senegal isn’t a lone victim. The situation isn’t much better in other African nations: 26% of antimalarials in Uganda are substandard. In Madagascar, it’s slightly higher at 30%. Uganda only recently switched from monotherapy antimalaria drugs to the combination therapy antimalarials. The counterfeiters switched too.

It is key that consumers have appropriate purchase decision support at the point of healthcare: all the drugs tested in Senegal had a fraction of the recommended API, but impotent antimalarials risk boosting the malaria parasite’s resistance to the real drugs. If consumers have the right tools to steer them away from sub-standard medication, such drugs will pose less of a risk to human life. The malaria parasite’s resistance isn’t boosted when fake and sub-standard drugs are left on the shelf.

We commend the U.S. Agency for International Development (USAID) for supporting the Drug Quality and Information (DQI) program and the USP for implementing the Promoting the Quality of Medicines (PQM) initiative. Such efforts will help bring more evidence to the fore as we get better data to quantify the real extent of the fake drug menace.

NAFDAC Launches Mobile Authentication Service in Nigeria with Sproxil’s Technology

Last year, NAFDAC (the Nigerian Food and Drug Regulator) gave an indication that it will be deploying innovative technologies to put the power of authentication in the hands of consumers. We are glad to announce that on 02/02/2010, NAFDAC launched the Mobile Authentication Service (MAS) – another milestone in its long history of fighting fakes in cash-based societies like Nigeria.
NAFDAC’s MAS provides consumers with an easy way to connect with legitimate brand owners as they authenticate products at the point of purchase. In addition to NAFDAC’S recent success in intercepting 100 million Naira (about USD 660,000) of fake anti-malarials at Nigeria’s ports, the trail-blazing regulatory authority has seen value in adopting Sproxil’s MPA technology to further enhance the protection it provides to consumers in Nigeria, while showing the potential Sproxil’s technology could have in several cash-based societies.

NAFDAC is working with stakeholders on sensitizing the public on MAS, and consumers have already started texting to the toll-free SMS authentication hotline and accessing our 24×7 support center. You can learn more about MAS by accessing the FAQ here [PDF].

EAPD awards Sproxil for innovation

Edwards Angell Palmer & Dodge (EAPD) a global law firm with 12 offices worldwide has selected Sproxil as an inaugural participant in its HIT – Helping Innovators Thrive – program. The program offers young companies support and access to strategic legal advice and provides discounts, deferrals and awards of free legal services. In recognition of its innovative and commercially viable technology, Sproxil will receive access to strategic advice on corporate structure, fund raising, equity compensation, intellectual property, licenses and collaborations.
Alden Zecha, CFO & Strategist for Sproxil said, “EAPD’s HIT program provides us with a tremendous benefit and we look forward to working with EAPD. We have already received support and encouragement from EAPD’s top-tier, legal team. They bring significant expertise and contacts in both the technology and health care spaces where we work. That is invaluable to an early stage, founder-funded company like ours, especially as we grow and eventually obtain outside funding.”

The official announcement is here.

Sproxil Wins Long-Term Support from USAID, Western Union and Ecobank

Sproxil, a finalist at the first African Diaspora Marketplace (ADM), has won support from USAID, Western Union and Ecobank in the first ever ADM event.

The seven month-long due diligence process to select Africa’s most promising startups ended with a 2 day event in Washington DC, where 58 finalists were invited to showcase their companies to investors. Out of the 733 original applicants, only 14 were awarded grants from a pool of nearly $1.5 million.

Speaking at the awards event, Sproxil’s CFO and Strategist, Mr. Alden Zecha said “Winning this award helps to further validate the value and impact of Sproxil’s solution for the developing world. The timing also coincides with our market launch earlier this month. African consumers are now much safer from the threat of counterfeit pharmaceuticals.” With our Mobile Product AuthenticationTM product recently introduced to the Nigerian market, Sproxil’s clients are already seeing significant uptake from the public, as consumers enjoy the benefits of purchasing genuine products. Support from USAID, Western Union Company and Ecobank will help us protect even more high-value commodities in Africa, and expose the world to a renewed continent where valuable brands can be appreciated and protected from counterfeiting.

To learn more about the African Diaspora Marketplace, visit the ADM Website or see the full list of winners.

Sproxil to speak at Unite For Sight Global Health & Innovation Conference

Sproxil founder Ashifi Gogo will be a featured speaker at the Unite For Sight Global Health & Innovation 2010 Conference to be held on the campus of Yale University in New Haven, Connecticut April 17–18, 2010. His presentation “Simple Solutions To Complex Problems: How A Text Message Can Save A Life,” will explain how Sproxil’s technology helps to save lives in developing nations by reducing the threat of counterfeit pharmaceuticals. You can learn more about the conference here.