ClinTex has launched a blockchain-based application via its tokenised platform to address the primary causes for inefficiency and increased costs in clinical trials.
The application will use clinical data analytics to address inefficiencies and decrease the cost of new drugs while fast-tracking delivery to patients.
Clintex started developing the Clinical Trials Intelligence (CTi) platform in 2018 to offer data analysis that can enable partnership and insights across trials.
Large pharmaceutical companies such as Merck and Novartis have started analysing the blockchain to potentially support trial strategy for patient information and manage trial medicines.
ClinTex’s CTi platform can work with such companies to provide additional uses of blockchain to boost trial efficiency.
The new blockchain-based application of the CTi Platform, named the Operational Excellence Module (CTi-OEM), delivers intuitive operational oversight of trials.
Clinical project managers, clinical data managers and remote staff can leverage the data from CTi-OEM to decide on actions needed to successfully conduct trials for assessing the safety and efficacy of new drugs.
In addition, researchers can use the CTi-OEM console to gain better insights into trial data and proactively take actions for operating efficient trials.
Some operational issues are protocol deviations and adverse events associated with the safety of patients in the trial.
CTi-OEM offers insights into patient safety during a trial, including adverse event rate per site, which facilitates detection of sites with a high safety events rate that indicates procedural issues or any safety risks requiring additional review.
The blockchain-based application comes with a set of tools, which can be accessed using the CTi-OEM console, to address the main causes of trial inefficiency.
In a statement, ClinTex said: “One of the major obstacles to a successful clinical trial is adherence to the clinical trial protocol. 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.”
The company plans to launch a total of seven blockchain-driven trial applications that obtain analytics from all forms of trial data to allow efficient trials.