The ClinTex (CTi) tokenised platform will utilise blockchain-based clinical data analytics to address the main causes of clinical trial inefficiency, helping to drive down the cost of new medicines and expediting their delivery to patients, a statement from ClinTex said.
It notified that the idea for the app was conceived in 2014, and it had formally started working by 2018 on the Clinical Trials Intelligence (CTi) platform. CTi’s purpose is to deliver data analysis at scale to drive collaboration and insights across clinical trials.
With large pharma companies like Merck and Novartis already testing blockchain as a technology of the future to support their clinical trial strategy for patient information and to manage clinical trial medication, this paves the way for ClinTex CTi to partner with the industry to deliver more innovative and impactful uses of blockchain to increase clinical trial efficiency, the statement added.
It also mentioned that using the CTi-OEM console, researchers can dive into clinical trial data and take proactive action to make clinical trials run more efficiently. These operational issues include things like clinical protocol deviations and adverse events relating to patient safety in the clinical trial.
“The company has prioritised the development of the CTi-OEM blockchain clinical trial app to target some of the major causes of inefficiency in clinical trials, enabling its first app to derive maximum tangible benefits for the pharma and clinical trials industry. CTi-OEM achieves this through a comprehensive portfolio of tools, which is accessible through the CTi-OEM console.
“Analytics within the CTi-OEM application allows the detection and analysis of these deviations and allows the clinical trial team to take speedy action. These tools provide powerful insights into the major causes of non-compliance in clinical trials providing analytics to help clinical trial teams identify and resolve them to speed up progress,” said the statement.
Protecting patient safety during a clinical trial is the most important aspect in the development of any new medicine. Adverse events are safety issues that occur during the testing of a new medicine. CTi-OEM provides insight into patient safety throughout a clinical trial. For example, adverse event rate per site allows the clinical trial team to identify those sites that have a high rate of safety events which may point to procedural problems or may also uncover safety risks that need further investigation, it added.