Triall, a blockchain firm based in the Netherlands, made the announcement on Thursday that it has teamed with the Mayo Clinic, a nonprofit medical facility in the United States, to improve the design of clinical trials and the management of research data.
Beginning in September of this year, the eClinical platform that Triall provides will provide assistance for a multi-center clinical study of pulmonary arterial hypertension that will last for two years and include 10 research sites and more than 500 patients from all around the United States.
Activities such as data collection, document management, study monitoring, and consent gathering will all be supported by the program. As explained by Triall, the objective of the partnership is to exhibit an immutable public ledger audit trail using its blockchain technology to increase the integrity of clinical studies.
The investigators, regulators, and stakeholders involved may then confidently study and evaluate the trial-related data, knowing that the records cannot be altered in any way.
It is anticipated that a clinical trial testing novel medications or cures will cost a median of $19 million to carry out in the United States. From the preclinical phase all the way through to the end, the approval rate for novel chemical entities and biologics normally ranges between 10 and 20 percent, and the inquiry process may often take years.
Verial eTMF is the first blockchain-based product that Triall has brought to market since the company’s launch in 2018. It gives researchers the ability to establish verifiable evidence of the legitimacy of clinical trial papers, such as patient diagnostic data.
These proofs may then be independently verified. In addition, the company is working on establishing application programming interfaces (APIs) for current third-party clinical trial software providers by way of eClinical. These APIs will allow these providers to connect to Triall’s blockchain infrastructure.
The native TRL coin is intended for use inside the ecosystem, such as for the purpose of providing financial reimbursement to those who took part in clinical trials. In the event that the experiment is a success, Triall intends to continue its partnership with the Mayo Clinic in the field of decentralized medical research.