03 July 2020 | News
Company recommends and implements PHB for a real cost savings and transparent management of live science, clinic, hospital assets and other healthcare systems for a secured, transparent delivery of healthcare services with evidence-based positive outcomes
Photo Credit: PR Newswire
Singapore based Private Healthcare company, TheraVab, is implementing their IP lifecycle and management on dClinic's Private Healthcare Blockchain (PHB). In addition to offering innovative healthcare solutions, TheraVab’ implementation of IP management on the blockchain will drive shorter drug development cycles and establish secure collaboration with industry and academic partners.
TheraVab, is the World's first dedicated Healthcare Blockchain company to integrate Healthcare Systems, Clinics and Hospital Assets with a Revolutionary Private Healthcare Blockchain (PHB) for the secure, transparent delivery of Healthcare, Wellness and Vitality Services, promoting Evidence-based Positive Healthcare Outcomes.
Using blockchain for the management of company’s IP, Clinical Trials and Supply Chain and many more operations is proven to be economical to the companies. It’s also an efficient module for Investors and management to track their investments and budgets respectively by reducing the need of extensive manpower. TheraVab, after 6 months of extensive analysis on blockchain solutions and dClinic's has found PHB to be a advantageous solution. TheraVab is confident on managing cost reduction significantly using PHB to manage, interrogate, streamline and audit the whole IP lifecycle. The company believes, continuous improvement and effective innovation as the key features of pharmaceutics and biotechnology.
"We have demonstrated PHB can bring about real cost savings and transparency for Live Sciences Companies such as TheraVab. This includes offering solutions of their Clinical Trials, Intellectual Property management, Royalties and Licencing, and Supply Chain management and compliance. What makes our blockchain unique is, it has been purpose built for the healthcare sector. It is based on recognised healthcare standards and provides the efficiencies the healthcare sector is after. It is not a retrofitted financial transactional blockchain," said dClinic CEO, Dr. Richard Satur.
In the next few months, TheraVab will be exploring project opportunities in the ASEAN region and have engaged Deloitte Southeast Asia as its Financial and Business Advisor. Together with dClinic, TheraVab will also explore manufacturing and clinical trial opportunities in Singapore and Indonesia. Leveraging the PHB, TheraVab will serve as a beacon for other Biotechs wishing to use Blockchain to help bring efficiencies and transparencies into their operations.