AEVOLVE AG, a protocol that supports medical innovations, conveyed on 13 September that to revamp the biopharma business model blockchain-based models are being considered.
AEVOLVE commenced by informing that with the biopharmaceutical industry troubled by reduced productivity, the world would be faced with the possibility of a decline in the number of drugs that would be introduced. AEVOLVE sustained by adding that several statistics were predicting the productivity rate of the biopharmaceutical industry to reach zero percent in the coming year.
AEVOLVE suggested possible solutions to the inherent problem as –
“The latest suggestions being considered as possible ways to revamp the biopharma business model include monetizing intellectual property (IP) throughout the process of drug development; external sourcing of research and development assets, which involves either licensing, mergers and acquisitions, or joint ventures; and blockchain-based models focused on equity tokens or similarly structured assets.”
AEVOLVE maintained that these suggestions raise various issues, including the legality of the distribution of IP rights among many owners. AEVOLVE further added about the question of how rewards would be distributed in the future. AEVOLVE summarized by noting the limited monetary resources available through external sourcing, and the complexity of the suggested blockchain models.
AEVOLVE continued that it proposes a model that focuses on the direct need of patients to access and receive drugs or treatments. The firm added that through its marketplace called Biospheres, the company brings purchasing decisions, cost savings, flexible financial options, and innovation access. AEVOLVE noted that Biospheres offers reservations to various medical treatments or products from different pharmaceutical companies.
San Francisco-based software technological company Chronicled, started working on their Mediledger project that aims at streamlining the pharmaceuticals industry contract reconciliation and chargeback process. The press release emphasized this as a major boost to Chronicled as prominent companies in life science and healthcare sectors like Pfizer Inc., McKesson Corporation, AmerisourceBergen Corporation, and Premier Inc. are collaborating with the Mediledger project.
Fusion Foundation announced its tie-up with Nimbus-T, a healthcare platform that provides identity management. Fusion Foundation shared its credentials as an organization building the next-gen infrastructure for worldwide decentralized finance. The blockchain firm also noted Nimbus-T as an enterprise operating in the healthcare sector to prevent fraud, improve interoperability and foster data integrity.