11.3 C
Amsterdam
25 September 2022
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Blockchain

Pharma giant Bayer China partners with VeChain

  • Renowned pharmaceutical firm Bayer China has collaborated with blockchain firm VeChain. 
  • The partnership aims to design a blockchain-based platform that increases clinical trial traceability in drugs.
  • The platform, CSecure, will be underpinned by blockchain-as-a-service (BaaS)-based tool – ToolChain.

Bayer China, one of the largest pharmaceutical companies in the world, has partnered with blockchain firm VeChain. The partnership aims to design a blockchain-based platform that increases clinical trial traceability in drugs.

The platform, dubbed Csecure, will assign a unique batch number to all the clinical trial drugs entering the blockchain. Through features such as identification codes and time stamps, stakeholders on the blockchain can monitor the drug’s movement along the supply chain in real-time. CSecure will be underpinned by blockchain-as-a-service (BaaS)-based tool – ToolChain. This will allow VeChain to design and build full-fledged distributed ledger technology solutions that meet all clients’ requirements.

VeChain CEO and co-founder Sunny Lu said: 

We’ve experienced the rigorousness of the medical industry by working with Bayer China. I feel Bayer’s professionalism and superb work ethic towards medicine and healthcare causes as a whole.

News Source

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