- LINEA System Revolutionizing Clinical Trials with Data, Technology & Blockchain
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LINEA System Revolutionizing Clinical Trials with Data, Technology & Blockchain
Clinical Trial Process Background
To get a drug approved requires lengthy and costly clinical development programs involving multiple trials. The drug approval process spans over 10 years on average and can cost upwards of $2 billion. Despite concerted efforts to meet deadlines, the pharmaceutical industry routinely struggles to complete clinical trials on time mainly due to delays with patient recruitment. As a result, medicines are often delayed in getting to patients waiting for these life-changing treatments. In this rapidly changing world presenting numerous challenges to the industry, it is critical for sponsors to launch trials efficiently, accurately and to meet their recruitment targets in order to execute clinical trials.
LINEA System Background
LINEA System, LLC was founded in 2007 by Kathleen Colatrella based on her 15+ years of experience in large pharma and biotech companies running clinical trials from beginning to end. In 2016, LINEA conducted extensive research on how to improve Site (also known as Investigators or Doctors) identification by leveraging big data and technology. Using our hands-on experience, we have developed a platform technology that accelerates clinical development program timelines by fast-tracking the startup of the clinical trials — perfecting Site identification and Site activation to speed patient recruitment.
We developed AcceleTrial™, a study startup management system (SSMS) that has a built-in database of over 100,000 Sites to match the right investigative Sites to the trial and then having an automated workflow to set up these Sites to quickly start the trial and have them contribute patients.
For more information on LINEA and to download the LINEA Token Whitepaper.
The global market for drug trials is projected to grow to $70 billion by 2027 with half spent in phase 3 trials. Sponsors running large phase 3 trials requiring large patient pools and many Sites need a platform like AcceleTrial™ to save time and money. LINEA has secured Master Service Agreements (MSA) and has repeat business with three major global pharma companies. In a given year, these three companies launch up to 400+ trials in different therapeutic areas. There are over 34,000 trials launched globally each year. 1000+ trials per year will be using AcceleTrial™ within 5 years.
The Opportunity/Application of LINEA Token
Many opportunities are possible as we are working with large Sponsors supporting their clinical trials. Our strategy is to introduce a LINEA Token on the Energi Blockchain as a means for obtaining access to LINEA’s startup application AcceleTrial™ and services.
The goal is to bring the LINEA Token to Pharmaceutical companies and have these token be exchanged for services. The anticipated outcome is that the LINEA Token will start the process of Pharma using tokens with various stakeholders in exchange for services and collaboration in executing clinical trials. This could also expedite the contract and budget negotiations reducing needless delays in the trial launch.
We look to incentivize the teams we work with to think futuristic and consider different ways of working especially in the current environment in the wake of the pandemic. Introducing new ways to collaborate with varied forms of payment would bring new opportunities. Our goal is to help clinical teams efficiently and cost effectively conduct clinical trials and speed the trial cycle time to get medicines to patients faster. We believe that introducing another form of payment that would allow for quick exchange of services offers tremendous growth and would be beneficial for all the stakeholders involved.
Purpose of the LINEA Token
We believe the future of payments among Global Pharmaceuticals is through blockchain and pharma tokens. We would like to start this revolution by introducing a LINEA Token on the Energi Blockchain. Our long-term goal is to have all big pharmaceutical companies use LINEA tokens as a pharmaceutical currency. We will start with the three Global Pharma giants that we have Master Service Agreements (MSA) with. These three Global giants have a combined market capitalization of over $500 billion. We also work with several other mid-size pharmaceutical companies as well as several Contract Research Organizations (CRO) who work with various large and mid-size pharma.
We will initially grant these clients LINEA Tokens when they contract with us for Site Identification for their clinical trials. Per study protocol, they will look for X number of sites and will use our AcceleTrial™ database to find and activate those Sites (Investigators, Doctors).
Our goal is to capture 5% (within 5 years) of the Global Clinical Trial market for our Study Start-up Management System (SSMS). There are over 20,000 Phase 3 trials launched globally each year. 1000+ trials per year will be using AcceleTrial™ within 5 years. The average trial is looking for 50 Sites.
Initially (subject to change based on the price of the LINEA Token), We will give the Sponsors 100 tokens per Site contracted. If the Sponsor does a trial with 50 Sites, they will receive 5000 LINEA Tokens. If they do 10 trials of that size, they can accumulate 50000 LINEA Tokens. Every 1500 LINEA Tokens has the value to obtain Professional Services, user licenses, application customization and access to advance features. The current cost of using our Professional Services is $1000/site so the LINEA Token would have initial value to the Sponsors of $.67/token which would be more than the initial value on EnergiSwap (Based on the current price of NRG, the initial value of the LINEA Token would be approximately $.39.
LINEA System engages with many Sites (Investigators, doctors) globally that conduct clinical trials to pre-qualify them to participate in a specific clinical trial. Initially, we can give LINEA Tokens to the Sites for filling out important surveys to give us key data points that would help qualify them for future Sponsor trials. Once the sites see the value in the token, they will be willing to accept LINEA Tokens as payment from the Sponsors for participating in the clinical trial.
LINEA System will engage with its Technology partners to implement the LINEA Token features into AcceleTrial™.
LINEA to introduce LINEA Tokens on the Energi Blockchain
LINEA System is proud to deploy the LINEA Token on the Energi Blockchain. We chose Energi because:
· Energi is the only blockchain that is able to recover stolen funds with the use of Energi Defense (EBI)
· Energi is self-funded and therefore we see it as a guaranteed blockchain for the future
· EnergiSwap has a better user experience than UniSwap, because Energi transactions are faster and cheaper compared to Ethereum.
Energi Blockchain website.
- Date of publication:
- Thu, 04/22/2021 - 11:37
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