Blockchain can bring the Pharma collaboration – and innovation – to new heights

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The idea that the success of a company depends on how much it can take advantage of the brilliant minds of its employees is quickly becoming an obsolete concept, which are equipped with technologies to collaborate with a vast pool of global talent will be a competitive advantage.

Collaboration is essential for innovation and efficiency Open source projects show that Collaboration can create real value for professionals, tap into this success and drive innovation by working with peers between organizations.On average it takes about 12 years to market a new drug. Collaboration can significantly reduce drug development time by increasing the number of "aha" in a short period of time, so collaboration can save time, costs and ultimately lives.

A great example of collaboration eff ort in pharma is Accelerating Medicines Partnership (AMP) a partnership between the National Institutes of Health and various pharmaceutical and life science companies. The partners established the AMP in February 2014 to help companies interested in collaboratively identifying promising biological targets for therapy . In January 2018, nine partners launched the most recent AMP project, which focused on Parkinson's disease.

Unlike some industries, pharmaceutical companies are not maximizing their ability to bring innovative products to market because they have not fully embraced the culture of collaboration. Researchers consider themselves the only owners of their data and protect them carefully. Even within the same company, researchers from different teams or departments may not be willing to share their research results and ideas. & Nbsp;

The Big Challenge: Intellectual Property Ownership

For pharmaceutical companies that embrace collaboration, a big challenge discourages them: how to protect their intellectual property rights while collaborating between companies. Intellectual property protections offer advantages for pharmaceutical companies, including patent protection and proprietary data protection.

Aiming to bridge the gap, my organization provides a blockchain solution that increases collaboration in the pharmaceutical industry by allowing researchers to share each other's ideas in a safe and transparent way. Other companies that are working to do this are Dymaximum, which connects payers with pharmaceutical, biotechnology and medical device companies to enable communication and collaboration in the ecosystem of formulas, reimbursements and market access. And MedKeeper is another company that enhances collaboration by offering drug monitoring, checklists and workflow applications for hospital pharmacies.

Blockchain technology may be the key to protecting intellectual property

In the past, researchers in the pharmaceutical and life sciences industries have hesitated to share their data and to openly test results with colleagues because they do not there was a good way to protect their intellectual property rights outside the published journals.

We know that blockchain can offer a solution for the protection of intellectual property rights. It can enable new levels of collaboration in the pharmaceutical industry by providing a secure platform for pharmaceutical researchers to share mutual information and data in real time and protect intellectual property rights.

Blockchain technology was launched when its first application, Bitcoin, was proposed in October 2008. According to & nbsp; Iansiti and Lakhani blockchain is an "open and distributed register that can record transactions between two parties efficiently and in a verifiable and permanent manner." Blockchain is so efficient that third -party managers are not needed. The technology works by replicating identical databases that are hosted and managed by interested employees. When a contributor makes a change to a copy, all identical copies are updated simultaneously so that each employee has access to the latest data in real time.

Blockchain creates immutable timbres of time and properties on every uploaded document. Therefore, researchers can retain ownership of their data even if they securely authorize their use by other researchers and institutions.

Blockchain makes it possible to share knowledge in real time

Blockchain can increase collaboration by allowing researchers to share insights with one another in a safe and open way. One of the main problems in pharmaceutical research is the timeframe between completing a preclinical study and publishing its results in academic journals. A researcher could complete an experiment in January, write the results and send it to a newspaper in February. The article is then submitted to peer-review and is not published until May or June. This is a delay of four or five months between the completion of an experiment and the publication of the insights. This time frame represents a huge barrier to innovation.

Blockchain can make data sharing possible in real time by giving researchers a platform on which to upload and share their unpublished results without worrying about the security of their intellectual property. Sharing their studies in real time will prevent the time delay that is observed when researchers have to wait for a diary to publish their studies

Final considerations

The pharmaceutical industry is constantly in need of new and better innovative drugs for cure diseases especially in this age of precision, personalized and targeted medicine. Pharmaceutical companies must focus on bringing innovative pharmaceuticals to market faster. Collaboration between organizations is a way to achieve this goal. Pharmaceutical companies that take advantage of technologies that help employees collaborate with their colleagues in other organizations will be a significant competitive advantage.

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The idea that the success of a company depends on how much it can exploit the skills of the brilliant minds of its employees is quickly becoming an outdated concept. Companies with technologies to collaborate with a large pool of global talent will create a competitive advantage.

Collaboration is essential for innovation and efficiency. Open source projects show that collaboration can create real value for professionals. Researchers in the pharmaceutical industry can also tap into this success and foster innovation by collaborating with colleagues from all organizations. On average it takes about 12 years to market a new drug. Collaboration can significantly reduce drug development time by increasing the number of "aha" moments within a short period. As a result, collaboration can save time, costs and ultimately lives. A great example of collaborative effort in the pharmaceutical industry is Accelerating Medicines Partnership (AMP) a partnership between the National Institutes of Health and various pharmaceutical companies and life sciences. The partners established the AMP in February 2014 to help companies interested in collaboratively identifying promising biological targets for therapy . In January 2018, nine partners launched the most recent AMP project, which focused on Parkinson's disease.

Unlike some industries, pharmaceutical companies are not maximizing their ability to bring innovative products to market because they have not fully embraced the culture of collaboration. Researchers consider themselves the only owners of their data and protect them carefully. Even within the same company, researchers from different teams or departments may not be willing to share their research results and their mutual insights.

The Big Challenge: Intellectual Property Property

For pharmaceutical companies that embrace collaboration, a major challenge discourages them: how to protect their intellectual property rights while collaborating between companies. Intellectual property protections offer advantages for pharmaceutical companies, including patent protection and proprietary data protection.

Aiming to bridge the gap, my organization provides a blockchain solution that increases collaboration in the pharmaceutical industry by allowing researchers to share each other's ideas in a safe and transparent manner. Other companies that are working to do this are Dymaximum, which connects payers with pharmaceutical, biotechnology and medical device companies to enable communication and collaboration in the ecosystem of formulas, reimbursements and market access. And MedKeeper is another company that enhances collaboration by offering drug monitoring, checklists and workflow applications for hospital pharmacies.

Blockchain technology can be the key to protecting intellectual property

In the past, researchers in the pharmaceutical and life sciences sectors have hesitated to share their data and to openly test results with colleagues because they do not c & # 39. It was a good way to protect their intellectual property rights outside published magazines.

We know that blockchain can offer a solution for the protection of intellectual property rights. It can enable new levels of collaboration in the pharmaceutical industry by providing a secure platform for pharmaceutical researchers to share mutual information and data in real time and protect intellectual property rights.

Blockchain technology was launched when its first application, Bitcoin, was proposed in October 2008. According to Iansiti and Lakhani blockchain is an "open and distributed register that can record transactions between two parts efficiently and in a verifiable and permanent manner. " Blockchain is so efficient that party managers are not needed. The technology works by replicating identical databases that are hosted and managed by interested employees. When a contributor makes a change to a copy, all identical copies are updated simultaneously so that each employee has access to the latest data in real time.

Blockchain creates immutable timbres of time and properties on every uploaded document. Therefore, researchers can retain ownership of their data even if they securely authorize their use by other researchers and institutions.

Blockchain makes it possible to share knowledge in real time

Blockchain can increase collaboration by allowing researchers to share insights with one another in a safe and open way. One of the main problems in pharmaceutical research is the timeframe between completing a preclinical study and publishing its results in academic journals. A researcher could complete an experiment in January, write the results and send it to a newspaper in February. The article is then submitted to peer-review and is not published until May or June. This is a delay of four or five months between the completion of an experiment and the publication of the insights. This time frame represents a huge barrier to innovation.

Blockchain can make data sharing possible in real time by giving researchers a platform on which to upload and share their unpublished results without worrying about the security of their intellectual property. Sharing their studies in real time will prevent the time delay that is observed when researchers have to wait for a diary to publish their studies

Final considerations

The pharmaceutical industry is constantly in need of new and better innovative drugs for cure diseases especially in this age of precision, personalized and targeted medicine. Pharmaceutical companies must focus on bringing innovative pharmaceuticals to market faster. Collaboration between organizations is a way to achieve this goal. Pharmaceutical companies that take advantage of technologies that help employees collaborate with colleagues in other organizations will create a significant competitive advantage.

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