In July 2019, ALTEN CalSoft Labs and BlockApps launched BioPharma Ledger, a blockchain clinical trial platform.
BioPharma Ledger leverages STRATO’s capabilities to resolve the many inefficiencies affecting the clinical trial process today.
Clinlogix, a leading clinical research organization (CRO), will pilot and implement BioPharma Ledger in real clinical trials.
Success Story: Eliminating Inefficiencies in the Clinical Trial Process
Context and Challenges
Clinical trial research is one of the most costly parts of modern healthcare, with each trial valued at $100 million on average, pushing up the cost of developing a single new drug up to $2.6 billion (CoinDesk). However, despite the price tag, often trials are not as efficient or productive as they could be, largely due to their reliance a colossal amount of sensitive data, which requires a labor-intensive and often inaccurate reconciliation process. With many interested parties and embedded risk, the clinical trial process can be unpredictable, costly, and inefficient.
Solution and Outcomes
BlockApps and ALTEN Calsoft Labs have developed BioPharma Ledger, applying STRATO’s unique capabilities to drive a multi-faceted solution for the clinical trial process.
- A consolidated and single source of data for all stakeholders
- Real-time data sharing between all parties
- Encryption, transparency, and immutability for all sensitive patient data
- Management of consortium data flow and visibility
BioPharma Ledger will drive the below tangible benefits for Clinlogix and the clinical trial industry at large:
- Reduced costs, the World Economic Forum reporting that a single ledger could save pharma up to $273 million per drug development cycle
- Increased privacy and incentive for patient recruitment, decreasing cost and difficulty of recruitment
- Faster, more immediate agreement and processing times
- Improved accuracy, products, and patient outcomes