$350 Billion Industry on the Verge of Disruption with Blockchain- and AI-Driven Clinical Trials Intelligence. “Clintex” token sale gives retail investors ground floor exposure ton next-gen medicines development
Many investors looking for alpha in the crypto space are piling into the DeFi sector. It’s a nascent but burgeoning sector where the potential for asymmetrical returns is huge, so it’s only natural that it should attract attention from the degen legions. Of course, the unaudited money games and the high rate of rug pulling in the DeFi sector also makes it an extremely risky play. Serious crypto investors looking for big gains should definitely consider allocations in DeFi (that’s why we’re here right), but there are other opportunities in the still-plenty-risky crypto space where asymmetrical gains are on the table but where (1) the tech is proven, and (2) the code has been audited.
One such opportunity, which is now unfolding, sits at the intersection of crypto, blockchain, AI, and – wait for it – medicine. Specifically, clinical trials. You know, the golden standard for proving the safety and efficacy of medical treatments. It’s already a $350 billion per year industry, and – driven by aging populations, increased disease prevalence, and global pandemics – it’s growing fast (FYI: there are currently at least 3,000 clinical trials underway towards the development of treatments for COVID-19. Just wait until we get hit by a virus that kills more than 0.01% of us).
Status quo medicines development is ripe for disruption
The average cost of bringing a proposed treatment through the gauntlet of clinical trials all the way to market has risen steadily over the last two decades, and now sits at an astonishing $2.5 billion. A big part of the reason it costs so much is thanks to the sheer complexity of successfully navigating the clinical trials landscape. And as with so many complicated tasks in the information age, it largely comes down to data management – or lack thereof.
In terms of the data involved when it comes to clinical trials, we’re talking mostly about the minutia of test results relating to the treatment in question. This includes blood work, heart rate monitoring, food and drink consumed during the test period, verbal patient reports, and so on.
Stakeholders in the process include the sponsoring pharmaceutical company, the clinical research organization (CRO) who conducts the actual trial, vendors who manage day-to-day components ranging from food services to administering treatments and processing tests, on-the-ground doctors and nurses, regulators, and – of course – the patients themselves.
The data collected in a trial must be proven – for all of the above stakeholders – to be accurate (ie. not manipulated). At the same time, data security must be ensured. Patient privacy is essential (with huge fines involved when things go wrong), as is protecting the intellectual property of the sponsoring pharma. The profit motive is, after all, how things get done – yes, even in medicine.
Thanks to the significance of the data involved, the reality for clinical trials – even in 2020 – is that paper reports and fax machines are still widely used. As you can imagine, this isn’t exactly the most efficient way to coordinate towards the advancement of a scientific endeavour like medicines development. Hence not only the astronomical price tag for bringing a treatment to market, but also the absurdly long time frame: It takes, on average, 12 years to go from concept to approval for a medical treatment (in the context of global pandemics, not exactly an optimal state of affairs).
It’s the blockchain stupid
Anyone vaguely familiar with the advantages brought by blockchain technology – namely, immutability and transparency of data – knows that a key use case is unlocking coordination across disparate stakeholders. That makes blockchain the ideal technology to revolutionize the clinical trials industry.
So, who’s working on this and – more importantly – how can you, the investor, profit from it?
There are a number of blockchain projects in the medical space more generally, but there’s only one serious contender in the clinical trials space: ClinTex. The UK-based team of medical professionals, data scientists, and blockchain developers, have been quietly building out their Clinical Trials Intelligence (CTi) platform since early 2018 with only a smattering of private venture capital (in other words, they’re not diluted in the least).
The platform aims to unlock desperately needed coordination for stakeholders in the clinical trials industry. It does this by deploying predictive data analytics on a blockchain infrastructure. This means that not only can all stakeholders be assured of the validity of data collected during a trial, but also important new insights can be gleaned throughout the clinical trials process. For example, the CROs conducting trials can predict, much earlier than previously possible, when a treatment is likely to be ineffective, making it possible to move on to the next candidate treatment without wasting money. Ultimately, these kinds of insights, combined with the improved operational efficiency, will enable medicines to be developed faster and at a lower cost, all the while maintaining or exceeding benchmark safety standards.
MVPs, security audits, and tangible traction for Clintex
There’s a lot of industry jargon in that last paragraph – plus some hopeful-sound platitudes – and we all know those are two major red flags for prudent investors. We also know how little credence we should put into blockchain projects that don’t have a functioning product. Here’s where ClinTex sets itself apart. On minimal venture capital, the startup has already managed to reach MVP status on a core component of the platform, the CTi Data Model design and the Operational Efficiency Application (OEM). They partnered with healthcare startup Intellimed to on-board valuable clinical trial data, enabling them to enhance their CTi algorithm engine, and – using the freshly-updated OEM app – they delivered insights that prove the effectiveness of their predictive Data Analytics Application (CTi-PDA). In June, the ambitious projects’ smart contracts passed a security audit from Beosin, a global leader in blockchain security.
So, to recap, the industry is ripe for disruption, and the project in question is looking good. But will investing in ClinTex pay out? You’ll want to look into it in more detail but, the CTI token – the 50% discounted presale for which is currently nearly sold out – is a payment token for use of the platform. If you look at the economics of how the token works (available in the 2020-updated whitepaper here), you’ll find that a combination of diminishing supply and increasing demand will likely make an allocation into CTI see gains that rival even the most degenerate of DeFi money games.
The ClinTex CTi token pre-sale will run through the 25th of September. DYOR.