Yesterday, Dutch blockchain startup Triall informed that it had teamed up with American nonprofit medical center Mayo Clinic. The objective behind this partnership is to optimize clinical trial design and the management of study data.
Initiating this September, Triall’s eClinical platform will honor a two-year multi-center pulmonary arterial hypertension clinical trial that retains 10 research sites and more than 500 patients across the United States.
Further, the software will also support activities such as data capture, document management, study monitoring, and consent. As disclosed by Triall, the purpose of the collaboration is to demonstrate an immutable public ledger audit trail using its blockchain technology. The aim is to boost the integrity of clinical trials. This extends to a scenario where investigators, regulators, and stakeholders can review and assess trial-related data with trust, understanding that no one can alter the records.
In the U.S., the average cost of a clinical trial investigating new drugs or therapies roughly hangs out around $19 million. Approval rates for new chemical entities and biologics generally fall between 10% and 20%. In fact, from the preclinical phase to the finish it can take years of investigation.
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Insights into Triall
Triall launched in 2018. The organization has commercialized its first blockchain product, Verial eTMF. This enables researchers to generate verifiable proof of authenticity of the clinical trial documents, such as patient diagnosis data. In addition, the firm is creating APIs through eClinical that enable existing third-party clinical trial software providers to link to its blockchain infrastructure. The native TRL token is made for platform utility. This includes paying compensation to clinical trial participants. If the current partnership is successful, Triall intends to further collaborate with the Mayo Clinic in the domain of decentralized medical research in the future as well.
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