The Chinese subsidiary of the pharmaceutical and agrochemical company Bayer unveiled a partnership with VeChain in order to build a blockchain platform dedicated to clinical drug trials.
This week, during an interview, Bayer China explained having selected the Chinese startup VeChain to develop a solution to improve data transparency, efficiency and traceability of drug management in clinical research, reports Coindesk.
Baptized Csecure, the solution will thus exploit the blockchain technology to improve supply management for clinical tests. Information is encrypted, time stamped and cannot be changed.
The system will be based on VeChain ToolChainTM, a BaaS (Blockchain as a Service) platform developed by VeChain and enabling the design of solutions that meet the specific needs of a client.
We experience the rigor of the medical industry by working with Bayer China. I feel the professionalism of Bayer and his work ethic, ”said Lu Yang, founder of VeChain.
VeChain has already partnered with several large blockchain companies such as Penfolds, Walmart China and PICC, or entities such as Cypriot government.
Earlier this fall, Ali Baba and Bayer announced to develop a blockchain-based traceability system for agricultural products.