Triall will use LTO Network to secure data in more real-world clinical trials
Two weeks ago we announced our strategic partnership with LTO Network. As announced, Triall will use LTO’s blockchain technology to anchor the research data of a COVID-19 clinical trial. Today, we’re excited to share that in just a few weeks’ time, Triall will start using LTO to anchor research data of another real-world clinical trial.
The project in question is a ‘Phase III’ clinical trial in which medical researchers evaluate a new treatment for irritable bowel syndrome (IBS) — a chronic condition that affects around 1 in 10 people globally, and that has profound negative impact on patients’ quality of life.
The clinical trial is conducted across 3 countries and 5 research sites, and involves more than 200 patients.
Why is this important?
To make sure that medicines are safe and effective for humans, candidate medicines have to be tested during clinical trials. Clinical trial processes are notoriously costly and inefficient. A typical ‘Phase III’ clinical trial takes many years, collects over 1 million data points, and costs over 20 million dollars. Moreover, 9 out of every 10 candidate medicines fail to complete all clinical trial phases.
Over the past four years, Triall has been working with clinical trial professionals to reduce costs and improve efficiency in clinical trials. We have developed a document management solution called Verial eTMF, which applies LTO Network’s blockchain technology to secure essential documents and medical data in clinical trials.
Verial eTMF improves clinical trial efficiency
The blockchain functionalities of Verial eTMF are unique in the ~200-billion-dollar clinical trial industry. Verial eTMF’s features directly answer to growing calls for data traceability by industry regulators, such as the US FDA and the European Union’s EMA.
By offering assurance of the existence and integrity of clinical trial data, Verial eTMF promises to secure and streamline clinical trial processes. Ultimately, this will translate in significant cost reductions and faster clinical trial timelines, accelerating the development of new medicines for patients in need.
