Modum and Chronicled collaborate on opportunities to bring value to the pharmaceutical supply chain, utilizing the blockchain based network — MediLedger

Modum and Chronicled are pleased to announce that they will be exploring opportunities to bring transformative change to the pharmaceutical supply chain leveraging blockchain based solutions coupled with IoT sensing. Both companies bring their respective expertise to the table — ranging from supply chain automation to the creation of decentralized industry networks.

The pharmaceutical cold chain is unique in that temperature fluctuations have a direct impact on the health and well-being of patients, not to mention the estimated $15 billion in lost revenue due to product losses every year.

The partnership will initially focus on exploring the integration and deployment of Modum’s MODsense One cold chain solution and the MediLedger network. However, the potential for collaboration extends beyond, including potential innovation in anti-counterfeiting, provenance of goods and serialization — with blockchain technology as the common denominator.

Modum and Chronicled both agree that the authenticity and immutability benefits of blockchain make it uniquely suited to be the backbone of the pharmaceutical cold chain given the sensitive nature of drug temperature.

Modum is a Zürich-based technology company that is developing trusted digital ecosystems to monitor, automate and optimize processes related to the quality of sensitive goods during distribution. They are the first company to have released a scalable blockchain-based IoT solution for temperature monitoring of pharmaceuticals in the Last Mile, which in Switzerland is integrated in the business processes of Swiss Post and enables fifteen thousand mail carriers to collect condition data on a daily basis.