Mayo Clinic’s partnership with Triall will help to leverage the power of blockchain for gathering key research and clinical data.
On Thursday, September 1, blockchain startup Triall announced partnering with the American nonprofit medical center Mayo Clinic. The goal is to optimize clinical trial designs along with the management of data.
Starting September 2022, the clinical platform from Triall will support a two-year multi-center pulmonary arterial hypertension clinical trial. Triall’s eClinical platform has more than 10 research cites and more than 500 patients across the United States.
The eClinical solutions will also support all core trial activities including data capture, document management, eConsent, and study monitoring. As reported by Triall, the goal of the collaboration is to demonstrate an immutable public ledger. The purpose behind this collaboration is to demonstrate an immutable public ledger audit trail by leveraging the power of blockchain. This will further help to boost the integrity of the clinical trials.
Later, investigators, stakeholders, and regulators can review and assess the trial-related data with higher trust. Speaking on the development, Hadil Es-Sbai, Co-founder and CEO at Triall, said:
“We are very excited to further our collaboration with Mayo Clinic and the team of Dr. Chris McLeod. It is wonderful to work with some of the thought leaders within Mayo Clinic and we are confident our collaboration will pave the way towards further innovation and enhanced quality in clinical development, utilizing the strengths of blockchain technology where these truly add value.”
The collaboration between Triall and Mayo Clinic seeks to establish a proof-based environment for decentralized clinical research.
Triall And Its Blockchain Products
Currently in the US, the median cost of a clinical trial investigating new drugs and therapies stand at around $19 million. Also, the approval rate of new biologics stand anywhere between 10-20% while taking years of investigation.
Launched back in 2018, Triall has already commercialized its first blockchain product, Verial eTMF. This product allows researchers to generate verifiable proof of authenticity for clinical trial documents.
In addition to this, Triall is also developing APIs through eClinical which will allow the existing third-party clinical software providers to connect to Triall’s blockchain infrastructure. The native Triall token (TRL) further facilitates ecosystem utility which includes paying compensation to clinical trial participants. If they find success, Triall will form further partnerships with Mayo Clinic for decentralized medical research.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Ecosystem
Research
News Network
About