Mayo Clinic wants to use Triall’s medical software to develop immutable clinical trial records. On September 1, 2022, Dutch blockchain startup Triall confirmed that it has partnered with American nonprofit medical center Mayo Clinic to enhance its clinical trial design and the management of its study data.
Beginning this September, Triall’s eClinical platform is set to support a 2-year multi-center pulmonary arterial hypertension clinical trial that features 10 research sites and over 500 patients throughout the United States.
This software will support various activities including document management, data capture, study monitoring, and consent. As highlighted by Triall, the purpose of this partnership is to demonstrate an immutable public ledger audit trail via its blockchain technology to enhance the integrity of clinical trials.
Regulators, investigators, and stakeholders can then assess and review the trial-related data with trust. They do so having the knowledge that nobody can alter the records. In the United States, the median cost of a clinical trial that investigates new drugs or therapies is projected at $19 million.
Approval rates for the new chemical entities and biologics normally reach between 10% and 20% from the preclinical phase to the finish and can mostly take years of investigation.
Buy Crypto NowUnleashed in 2018, Triall has already commercialized its first blockchain product, Verial eTMF. It lets researchers generate verifiable proof of authenticity of the clinical trial documents, including patient diagnosis data. Furthermore, the company is developing APIs via eClinical that allow existing third-party clinic trial software providers; to connect to Triall’s blockchain network.
The native TRL token is designed for ecosystem utility, like paying compensation to clinical trial participants. In case it becomes successful, Triall aims to further collaborate with the Mayo Clinic in the space of decentralized medical research.
