Omnitude (ECOM), a UK-based plug and play hybrid blockchain provider, has signed a pharmaceutical commercial contract with Clinical Connex to develop a new blockchain platform to conduct clinical drug trials in the UK and USA. The contract is reported to be worth an estimated $30 million over a 5-year period.
We are delighted to announce our latest partnership with Clinical Connex to develop a brand new #blockchain-enabled platform that will transform the way some of the world’s largest pharmaceutical businesses conduct clinical trials. Read more here ??https://t.co/6p5Fs77CBU
— Omnitude (@Omnitudeorg) August 29, 2019
Clinical Connex are a private limited company, recently registered in the UK, and led by serial entrepreneur Timothy Bing Byington who has previously built and sold businesses in mobile telecommunications, digital imaging, and healthcare.
Accuracy and Transparency
Omnitude is often described as a middleware solution that allows different systems to communicate and interact in a seamless manner, allowing new protocols and technology to be integrated into established businesses.
It is intended that the recent deal will employ Omnitude’s blockchain architecture and Self-Sovereign Identity (SSI) to provide individuals with ownership over their own personal data but at the same time allow Clinical Connex to offer companies an alternative to the existing trial procedure allowing for greater accuracy and transparency in results testing.
Speaking about the collaboration between the two companies, Chris Painter, Founder and CEO of Omnitude, said “With Clinical Connex, we share the same vision for bringing simplicity and clarity to an ever increasing complex technological world and we are both excited at the prospect of bringing the benefits of blockchain technology to the clinical drug trials industry.”
Launched in an initial coin offering (ICO) last year raising around $8 million in challenging market conditions, Omnitude went on to forge a working partnership with the Government of Malta and are now members of the Linux Foundation, Hyperledger, and Tech UK.