Decentralized pharmaceutical products development and commercialization platform
By using Crowd Machine, Caywon Pharmaceuticals Group is working on adopting a blockchain-based platform to provide its scientists with the necessary IT tools to translate their requirements into a digital workflow. The company will be able to decentralize the pharmaceuticals development process. This will enable Caywon to bring remote teams together and standardize processes, systems and information sharing in a secure way.
Caywon Pharmaceuticals Group
- Healthcare research
- Discovery & preclinical development
- Consulting firm and Tech
Slow translation of biomedical advances into innovative products.
Adopting blockchain technology to provide scientists with the necessary tool to translate the requirements into a digital workflow.
“To unlock the value in this digital future, the combination of deep pharma domain knowledge and IT implementation capability is required” said Dr. Matthew Lee, VP of Innovations of Caywon, “Having a digital platform that is friendly to domain experts who lack coding skills is going to be essential in unlocking the value of domain know-how trapped inside the heads of our domain experts.”
To create a system that fits its unconventional work model, Caywon is using Crowd Machine technology to create a decentralized global pharmaceutical products development and commercialization platform, becoming the earliest adopters of the technology for that purpose in the pharmaceutical industry.
Scientists can develop blockchain applications with zero-code and can also develop simulations to run on the global network of computers. This platform can also provide an internal economic incentive to source computational resources so that computations can be done with predictable and reliable performance. This attribute make it possible for decentralized application adoption in computational drug design. The tech allows anyone to develop distributed blockchain apps up to 45 times faster.
Through that step toward Pharma 4.0, the company hopes to create a supply chain workflow that can be reconfigured mid-process based on individual project requirements, while maintaining a high level of data integrity, manufacturing quality and product safety using blockchain technologies. “The whole idea of this platform is to digitize a complex supply chain and share data across a virtualized value chain, so that means involving all parties in the product development and commercialization process,” said Dr. Lee.
This use case first appeared on Chain 76 Use Cases — a review of blockchain technology implementations and deployments in the pharma and healthcare sectors.