With modern advancements in the fields of medicine and health advancing at an ever-increasing pace, the value of research and development has followed suit, with the specific area of clinical trials now thought to be valued at over $350 billion a year.
And it’s no wonder, with rigorous testing of new drugs and treatments to provide the cure to a plethora of ailments and diseases required under stringent laws and regulations in place to ensure that the final products marketed to the masses are safe for consumption.
This year’s global crisis of the COVID-19 pandemic has also brought clinical trials to the fore, with so much funding required to test a range of suggested treatments. Without the financial backing to perform tests and validations, many of the world’s afflicted continue to wait for a cure or treatment as clinical trials seek funding.
Yet the market for clinical trials has been out of reach for most retail participants, with access only typically available to powerful companies with years of experience. However, the dominance of Silicon Valley in North America and big pharma from Europe have been equally affected by the economic fallout of COVID-19 and it is clear that the progress of innovative medicine must seek more avenues, including from the retail investor.
Taking hold of the reins
Enter blockchain startup ClinTex, who seeks to change the status quo with the announcement of their CTi Token Presale. Based in London, ClinTex believes that it has hit upon the solution to empower the financial ecosystem that remains out of reach from innovation.
And it is also a financially rewarding venture, it says, as it seeks to meet the funding needs of medical advancement and healthcare all across the world, but also will share the potential dividends to its backers via its tokenized platform.
Early birds participating in the token sale will now enjoy a 50% discount on CTi token purchases for a unique opportunity to invest and become part of the modern pharmaceutical industry — while tacking and solving the vast inefficiencies surrounding the sector.
The ClinTex solution will look to reduce the average time frame for a treatment or drug to reach a stage ready for patients. Blockchain’s superior data recording with CTi’s Clinical Data Visualisation App also results in cleaner, better data management that means faster detection and resolution, deeper insights and use of data to provide accurate, timely treatment. All this will help in eliminating years of pain, trauma and broken promises for victims and families seeking in vain for the right treatments.
By improving efficiency, ClinTex also directly reduces the high cost of drug testing — normally passed on to the consumer — by ensuring faster turnaround times. In an industry where up to $8 million is lost in revenue for every day of delay from trial to counter, every single hour saved is worth hundreds of thousands of dollars… savings for the patient and more profit for the investors.
A new leaf for the healthcare industry
Alongside technological improvements in management, ClinTex also fosters collaboration between industry players, allowing for an ecosystem that connects, engages and shares healthcare intelligence, research and information to bridge gaps globally and increase the network efficiency with every partner brought on board.
That the shadow of COVID-19 continues to loom over our future means that ClinTex’s solution could not have been more timely.
Innovation must be nurtured and progressed, and the maturing technology of blockchain, and the recognition of decentralized finance (Defi) as a true means of democratic funding could be the turning point in the ailing healthcare industry.
Riding on the back of improved blockchain sentiment, ClinTex looks to be one of the sure things of 2020 and with the presale running until 25th September 2020, there’s still plenty of time left to start on the ground floor.
For more information on one of the leading lights of emerging technology seeking to revamp the healthcare industry and clinical trials, visit the official ClinTex website or engage with the company in real time on Telegram.
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