TheraVab, a Biotech company based in both the United States and Singapore, is utilizing blockchain technology for its IP lifecycle and management initiative.

Essentially, the TheraVab needs to manage its IP and supply chain, among many other aspects of its group. Thanks to blockchain technology, it is much easier for execs to track funding, investments, budgets, and so much more.

Thanks to dClinic’s Private Healthcare Blockchain, they now can.

Speaking on the matter is Dr. Herbert Chow, the CEO of TheraVab, who had said:

“Continuous improvement and effective innovation are key features of pharmaceutics and biotechnology. In addition to offering innovative healthcare solutions, TheraVab looks to implement its IP management on the blockchain to drive shorter drug development cycles and establish secure collaboration with industry and academic partners. We have spent the last 6 months reviewing a number of blockchain solutions, and dClinic’s PHB is by far the best solution we have seen. We are very confident that we will be able to reduce costs significantly using PHB to manage, interrogate, streamline and audit the whole IP lifecycle for TheraVab.”

Thanks to TheraVab, other companies around the world in the Biotech field might look to them and start utilizing their own blockchain solution. Only time will tell, of course, but should TheraVab’s initiative take off, others may follow.

Source: https://insidebitcoins.com/news/theravab-to-utilize-dclinics-blockchain-for-ip-management