Who are ClinTex?
ClinTex are a solution provider to the pharmaceutical industry, providing predictive analytics and machine learning to new medicines development and the clinical trials process.
What is Clinical Trials Intelligence?
Clinical Trials Intelligence, is a decentralised software solution that will lower the cost of new medicines and speed up their delivery to market for the people that need them. It will achieve this by making the clinical trials process faster, more efficient and more cost effective for pharmaceutical companies that engage in the research of new medicines for market.
Why does Clinical Trials Intelligence need a blockchain?
Audit trails are a required procedure and control for all clinical data. The FDA and other regulatory authorities need to be able to verify the quality and integrity of the data (FDA, 2017) and a pharmaceutical company must, in accordance with Good Clinical Practice (GCP), record all changes to the data, who made the changes, and when. A blockchain ledger is the perfect record keeping tool for this use case because it does exactly that.
Further to the immutable nature of the blockchain, having a secure complete recorded history of all our clinical data views stored on a blockchain allows for the creation and evolution of a decentralised clinical database, which Clinical Trials Intelligence will use for powerful machine learning algorithms that will increase in potency over time, providing a powerful predictive tool for clinical trials that introduces hitherto untapped opportunities for efficiency and quality in the conduct of clinical research.
Smart contracts will also allow for the ability to perform the secure execution of contracts and payments based on triggers and milestones in the clinical data. For example, a payment to an investigator can be automatically triggered as pre-set milestones are reached based on data entered and, later verified by an outside system known as an oracle (in our case Chainlink). This allows for the removal of costly and slow intermediaries.
Are there any independent sources outlining the demand for the solution that ClinTex’s Clinical Trials Intelligence’s will bring?
Yes, there have been many calls for this solution from academics and pharmaceutical industry insiders, both in the media – “Big Pharma Seeks DLT Solution for Drug Costs” and “Blockchain could be a game changer in medical clinical trials” and in academic papers, such as “How Blockchain Can Transform The Pharmaceutical And Healthcare Industries” by the phUSE Working Group.
Do you have any competitors that are centralised, and if so, what is stopping them from doing the same thing?
There are centralised vendors like Tibco, that develop visualisations for clinical trials. But their focus is restricted to discrete tasks in clinical trials (rather than the end to end coverage offered by the Clinical Trials Intelligence platform). With Clinical Trials Intelligence, ClinTex will be first to market in its delivery of predictive analytics and machine learning to new medicines development, and the first to bring the advantages of distributed ledger technology.
And what about all the other healthcare related blockchain projects?
There are many health related blockchain/DLT projects, however most appear to be advocating the use of a blockchain to store patient medical records. To the best of our knowledge, no one as of yet is tackling the problems in clinical trials that Clinical Trials Intelligence will solve, both in terms of cost savings for big pharma and bringing life-saving treatments to patients sooner.
How does Clinical Trials Intelligence store data?
In Phase 1, Clinical Trials Intelligence’s data storage solution utilises a hybrid of on-chain data & off-chain data: On-chain: Data hashes (digital ‘fingerprint’ of the dataset) which points to the location of that data, off-chain: Raw clinical data & analytical data, algorithm performance & computations
In the latter phases, we will move to a fully decentralised storage solution, using Storj as our decentralised storage provider.
Is Clinical Trials Intelligence open-source?
Although ClinTex will endeavour to share everything we can pre-token sale, including the token sale contract code, the algorithms behind Clinical Trials Intelligence’s AI and predictive analytics are proprietary and as such the platform cannot be open source.
Who will be your first customers? And when?
We expect to begin on-boarding our partner pharmaceutical clients from early 2021 on a pilot basis to refine the algorithms in our first app, CTi-EOM. Initial revenue generation is targeted for Q3 2021.
What are CTI tokens used for?
The CTi token is used for access to the Clinical Trials Intelligence platform via a staking licence model through the Clinical Trials Intelligence integrated wallet. There is no other payment gateway for access to the platform.
The CTi token will also be used for inter-platform payments in phase 3, such as reward payments to clinical data providers and third party clinical investigators.
What will drive demand for the CTI token in the future?
To access the Clinical Trials Intelligence platform the user will require a licence, which will be granted by smart contract when a predefined amount of CTi tokens is staked in the users balance on the platform’s integrated wallet. These tokens will need to be purchased on the open market and, once a licence is granted, will remain staked in the Clinical Trials Intelligence platform wallet for the duration of the licence period (12 months minimum).
To facilitate larger pharmaceutical clients, a ClinTex subsidiary will offer to act as a brokerage service by taking payment through traditional gateways, which it will then use to purchase CTi from the circulating supply on public exchanges on the clients behalf. This ease of access for pharma, through a traditional user experience, will introduce major corporate buying power into the CTi eco-system.
The more clients ClinTex on-board to CTi, the more the supply pool of CTi is reduced, thereby increasing the value of the CTi token by scarcity value.
ClinTex intend to heavily market to industry through the launch and roll out of CTi’s seven applications, and it is envisioned that demand for licences will experience rapid and expansive growth during this period. As tokens will need to be constantly acquired from the circulating pool each time new Clinical Trials Intelligence access licence is granted, the supply of CTi will reduce significantly as the project matures.
As the Clinical Trials Intelligence platform will be the first to market with best-in-class clinical trial analytics, it is envisioned that the majority of the customer base will renew their licence after the initial 12-month period, on an on-going basis. Furthermore, large value clients will be incentivised by ClinTex to do so when approaching the end of their licence period. For token holders, this will mean that the staked CTi tokens for pharma clients will not be returning to the supply pool at the end of the initial 12 month term of the clients licence, and will stay out of circulation indefinitely.
Token Burn: In the event that a pharmaceutical client chooses not to renew their Clinical Trials Intelligence access, the CTi tokens that were staked for that licence will be returned to ClinTex. As part of our commitment to continuously reduce the CTi supply pool, 20% of those tokens will be destroyed permanently. This token burn will be performed by smart contract and verifiable on the Ethereum public blockchain.
What is the period of each CTI licence?
12 Months, with a rolling contract subscription.
Your fully diluted market capitalization is USD $20m. Do you think there is room for the CTI market cap to significantly grow from this starting point?
The savings to the pharmaceutical industry represented by the ClinTex Clinical Trials Intelligence proposition far, far exceed the potential CTi token sale fully diluted market cap, and as such we expect to see significant growth, driven by clear and significant demand.
As per our whitepaper, just a 1% average cost reduction across clinical trials running today would generate a saving of $3.5 billion across the industry (based on today’s averages).
Have your existing, and will your future, smart contracts all be independently audited?
Of course. All the ClinTex Clinical Trials Intelligence smart contracts will be fully and independently verified by a well respected security firm in the crypto asset space. All audit reports will be published on the ClinTex medium page.
When is the CTI Token Sale?
The CTi token sale is planned for summer 2020, with the exact date to be confirmed. Please sign-up to the ClinTex Newsletter and keep an eye on the ClinTex social media channels to stay up to date.
What exchange will host the Initial Exchange Offering?
This is to be confirmed. ClinTex are currently in talks with prominent crypto-asset exchanges that run Launchpad programmes, with a view to running our Initial Exchange Offering this summer. ClinTex will release this news as soon as possible.
Why is the soft-cap of the token sale $2 million but your hard-cap $7 million – what is represented in the difference between the two figures in what ClinTex can deliver?
The softcap represents the minimum amount that will allow us to deliver something meaningful for pharma. This will start with our two core DApps – CTi-OEM and CTi-CDV.
In such a scenario, ClinTex would use those two initial Apps to generate revenue to fund the further development of the next five planned Apps and the phase 3 decentralised clinical database.
A full hardcap reach of $7m will allow ClinTex to execute the entire roadmap with maximum efficiency, which as well as development, includes an extensive marketing campaign within the pharma industry , ultimately driving more and more value back to the CTi token.
How much are you raising in private sale vs the public sale, and what is the rationale behind it?
We have limited the private sale to 10% of the total CTi token supply, which is considerably less than the industry standard at this time but we think this is the fairest distribution for the ecosystem, and will go towards ensuring that the economics of the CTi token are not damaged by excessive discounts.
When will CTI be available to trade on exchanges?
CTi that is not vested in a lock-up contract will be tradable from day 1 on the exchange that hosts the IEO. Clintex will endeavour to get CTi listed on many major exchanges as soon as possible.