Dr. Uli Broedl, Vice President, Medical and Regulatory Affairs, Boehringer Ingelheim (Canada) said, “The clinical trial ecosystem is highly complex as it involves different stakeholders, resulting in limited trust, transparency and process inefficiencies without true patient empowerment.”
According to the agreement, IBM will provide the project with blockchain technology to assure transparency and trust during the trial. This is not the first project for IBM. It is involved in over 400 blockchain related projects. Back in January, the tech company joined hands with the US insurance giant Aetna to develop a blockchain network customized for the healthcare industry.
The blockchain based platform is forecast to serve more than 39 million clients worldwide by simplifying insurance claims processing and payment remittance, in addition to directory management.
Boehringer Ingelheim, a pharmaceutical company focused on research and development of therapies, was founded in 1885. In 2017, the company generated revenue of around €18 billion ($20.4 billion). In 1972, Boehringer Ingelheim established its headquarters in Montreal, Quebec.
Notably, blockchain company Bitfury striked a partnership deal with Medical Diagnostic Web (MDW), which offers blockchain platform for radiology. Under the agreement, both parties will develop a blockchain platform for sharing, maintaining and securing data pertaining to medical imaging and diagnostics, for example CT scans and X-rays.
Back in February, a medical R&D consortium, referred to as the Pistoia Alliance, broadened its blockchain venture to include data identity, data sharing and data integrity. The project will concentrate on the use of blockchain to assess sources in identifying data and enhance sharing between organizations.