AMRIT leverages the patented AI and blockchain technology to help stakeholders such as medical researchers, physicians, hospitals, pharma companies, CROs and more, to speed up drug discovery and development through a decentralised ecosystem kind of approach
OncoCoin, a fully-owned subsidiary of Innoplexus AG which is a international Artificial Intelligence (AI) and blockchain based drug discovery and development company with 43 patents and more than 116+ patent applications, is going to launch ‘AMRIT’, the decentralised and GDPR compliant Real World Data (RWD) exchange to fuel AI for patient’s health and longevity.
AMRIT leverages the patented AI and blockchain technology to help stakeholders such as medical researchers, physicians, hospitals, pharma companies, CROs and more, to speed up drug discovery and development through a decentralised ecosystem kind of approach. In addition to its cancer app, the company plans to launch the neurology app by the end of this year covering alzheimer’s disease, parkinson disease among others.
Speaking about this, Dr Gunjan Bhardwaj, CEO, Innoplexus AG and Founder/Chairman of the Board, OncoCoin AG said, “The AMRIT ecosystem is democratizing the process of cancer research by offering a base of 3.5 lakh users globally registered on the mobile app CURIATM. Through the app, the pharma companies seeking to conduct clinical trials can connect with the patients for their participation and incentivise them for sharing their Real-World-Data with the utility token ‘AMRIT.’ Subsequently, users can use it for availing second opinions and other cancer related in-app services. This is an unprecedented ecosystem development which has no other match anywhere in the world currently.”
Adding further, Dr Bhardwaj, said, “We have always believed in the power of using cutting-edge technology to benefit people, especially cancer patients. This is where the ecosystem approach of AMRIT offers multi-pronged support to the patients. At the first level, the ecosystem offers free-of-cost information specific to their disease type and stage. It helps them identify the right medical experts for their type and stage of disease and enables identification of alternative therapy options. Further, the app enables them to identify and apply to most suitable clinical trials in their vicinity.”
Estimated value of the medical records per user can go as high as $20,000 per record. If a fraction of users on the CURIATM platform in the coming year would license their health records it would be comparable to that of a data company which was acquired for $1.9 Billion. Fueled by this Real World Data through a secure, encrypted platform, AMRIT aims to achieve sustainable growth.
OncoCoin has its own pancreatic cancer program and has initiated the Pancreatic Cancer Biomarker Study (PALAS study) under the guidance of its scientific advisory board with four pancreatic cancer experts in Europe.