Pharmaceutical company UCB, headquartered in Brussels, has over 8,500 employees operating in over 40 countries. Collaboration is in its DNA, both for projects involving several strategic partners as well as when interacting with end customers.
The company sought a new, digital way of working that would help eliminate the inefficiencies and frustrations. Managing complex interactions and processes is becoming a simple task due to the usage of this.
After evaluating several options, UCB selected blockchain technology as the most promising solution for its needs. The company is now collaborating with Microsoft on a proof-of-concept (POC) project. This will explore how blockchain will streamline clinical trial agreements (CTAs).
The process of CTAs:
The current process for CTAs is manual, paper-based, and time-consuming. In addition, there is no easy way to track changes.
The PoC will test whether blockchain can help to streamline the CTA process. It is done by creating a digital, tamper-proof record of CTAs that can be shared with all relevant parties. This would allow UCB to track and manage CTAs more efficiently. It is also providing greater visibility into the status of agreements.
If successful, the PoC could pave the way for UCB to use blockchain for other use cases. Tracking patient consent forms, managing inventory, or streamlining supply chain management is a part of the process simplification. Ultimately, blockchain could help UCB to become more agile and efficient in its operations. This will free resources that can be reinvested in research and development.
How do patients become strategic allies for innovation?
In the past, pharmaceutical companies have faced criticism for being too focused on profit and not sufficiently patient-centric. One example of this is UCB’s partnership with the European Federation of Neurological Associations (EFNA). Patients with MND will be involved in every stage of the project. This will start from design and planning to execution and evaluation.
This level of collaboration between patients and pharmaceutical companies is unprecedented. We are hoping to make it more effective and efficient for drug development. In the future, patients could play an even greater role in the innovation process. The insights and experiences are becoming increasingly valuable.
Blockchain technology could also help to empower patients and give them a greater role in the drug development process. The example includes the data storage of patient medical records in a decentralized way. This would give patients more control over their data. This allows them to share it with researchers and pharmaceutical companies on their terms.
Patients who agree to participate in clinical trials would be able to sell their data directly to pharmaceutical companies.
Ultimately, blockchain technology has the potential to transform the pharmaceutical industry by empowering patients. Blockchain is streamlining clinical trials, and improving drug development.
How Cyberium blockchain can collaborate with UCB?
UCB is a pharmaceutical company that is looking to use blockchain technology to streamline clinical trials and improve drug development. The company has partnered with the European Federation of Neurological Associations (EFNA) on a project called “TackleMND”.
This would give patients more control over their data. The process of sharing it with researchers and pharmaceutical companies on their terms becomes easy. Patients who agree to participate in clinical trials would be able to sell their data directly to pharmaceutical companies. They don’t collect data from third-party research organizations. A lot of developers are working hard to create applications for storing clinical trial data.
Cyberium blockchain is well positioning and trying to help UCB adopt and utilize blockchain technology in its operations.
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