Startup Of the Week: Cosmos Pharmaceuticals Inc.

In this edition, we present Cosmos, which is revolutionizing medication adherence with its innovative product, FortisKap—a smart pill bottle cap equipped with a fingerprint scanner to ensure authorized access. By providing real-time data on dosage quantities and usage times, Cosmos enhances clinical communication and improves prescription adherence transparency, aiming to prevent adverse patient events and enhance overall patient care.

Tell us about your company.

Alexander: Cosmos Pharmaceuticals is a prescription-care management company that provides a device-enabled monitoring solution to accurately record, and deliver, patients’ medication adherence rates to their physician and care ecosystem. The FortisKap is a cloud-compatible,  prescription pill bottle cap that possesses a fingerprint-enabled security system and internal sensor array that will capture granular adherence metrics to be sent to our cloud-based server where they will be analyzed and packaged into single-page adherence reports.

What made you become an entrepreneur?

Alexander: Cosmos was founded as a direct result of the immediate and peripheral consequences associated with prescription medication misuse. Both co-founders experienced family members, and mutual friends, who have struggled with prescription misuse ultimately resulting in the untimely death of a close friend. Having seen first-hand the devastation that prescription misuse can inflict on friends and families, Alexander and Joseph united with the common goal to prevent other families around America from having to go through the same disaster.

What is the most challenging part of running your own startup?

Alexander: Time management has quickly become one of the more difficult aspects to manage when running a start-up. There are seemingly never enough hours in the day to accomplish everything on our to-do lists. We have had to learn how to efficiently prioritize the many different aspects of our company and develop a sound review process to ensure a cohesive working environment amongst the team.

What is the biggest challenge you have faced when looking for funding?

Alexander: THE NEED FOR SUBSTANTIATING CLINICAL DATA. This has proven to be the toughest challenge for us when approaching potential investors. The interest is there, but due to the nature of our company, many investors are requiring trials that can elicit whitepapers. We have taken the necessary steps to address this issue as we have successfully completed a trial in Florida and currently have two trials set-up that will produce the necessary data to close investors.

What is the most rewarding aspect of entrepreneurship?

Alexander: The most rewarding aspect of entrepreneurship is witnessing the growth and development of your company as a direct result of the hard work that was put in. It is extremely fulfilling to watch your work elicit results, even if the result is not necessarily what was desired. Being able to experience everything in such a hands-on approach allows us to learn from our mistakes and capitalize on our successes. 

Learn more about the company: https://www.fortiskap.com