Pharmaxi's model reveals a fundamental shift in clinical research: the move from volume to velocity. Their $5M revenue with 25 employees translates to $200K revenue per head—exceptional for a CRO where the industry average hovers around $150K. This isn't accidental; it's the result of focusing exclusively on post-marketing studies and registries where protocols are more stable and regulatory pathways clearer.

While most CROs still rely on patchwork solutions, Pharmaxi built OnlineCRF—a proprietary EDC system designed for their exact workflow. This isn't just a cost saver; it's a competitive moat. In an industry where data integrity is everything, owning the technology stack means faster queries, cleaner data, and fewer third-party dependencies. For sponsors, this translates to real-time visibility and reduced audit risk.

Ukraine and Poland offer a perfect storm for clinical trials: large treatment-naïve patient populations, experienced investigators, and regulatory frameworks that are EU-aligned but faster. Pharmaxi's 25-person team can activate sites and enroll patients in weeks where global CROs take months. The $5M revenue figure suggests they're hitting the sweet spot—large enough to handle complex studies, small enough to remain agile.