At the intersection of technology and health care, iSolve LLC is launching a tool to support organizations throughout the drug development lifecycle and drug supply chain system.
iSolve bridges blockchain systems, complementing existing processes to create a trusted network. Blockchain solutions are digital ledgers that records transactions. When used in the pharmaceutical industry, these systems can track drugs along the entire drug supply chain, from the manufacturer to the patient. In addition to deterring fraud and expediting recalls, iSolve can help pharmacies improve their inventory management and federal compliance.
The company’s goal is to enhance and innovate the drug development lifecycle and drug supply chain by providing secure data sharing and visibility. Blockchain solutions give researchers access to valuable data that can improve patient care. In addition, the FDA, manufacturers and wholesalers will gain a better understanding on how prescription drugs are being distributed.
“iSolve is a framework solution,” said Darryl G. Glover, PharmD, a 1992 graduate of University of the Pacific’s Thomas J. Long School of Pharmacy and Health Sciences and chief clinical officer (CCO). “We are the first to have a biopharmaceutical solution for the industry.”
Once a transaction is recorded in the digital ledger it cannot be altered, creating a provenance and reliable record of data. The data is encrypted in order to maintain privacy and security. In addition, users are provided personalized keys, which give them access to a specific section of the data. The digital ledger supports an open and extensible peer-to-peer platform, which makes it a valuable tool for researchers, regulators and health care professionals.
These decentralized networks decrease potential security risks. For example, if an individual were to try to enter a false serial number of a pharmaceutical drug, a record would have to be simultaneously altered in at least four areas of the system.
Glover and the iSolve team has positioned themselves to set the industry standard for utilizing advanced digital ledger technology to comply with the Drug Supply Chain Security Act (DSCSA). This act enhances the U.S. Food and Drug Administration’s ability to help protect consumers from exposure to drugs that may be counterfeit, contaminated, stolen or otherwise harmful. In addition, DSCSA protects consumers by improving the detection and removal of potentially dangerous drugs from the drug supply chain. Some requirements were instituted in November 2014. The FDA will continue to phase in requirements, standards and systems for tracing products until 2023.
Glover explained that to comply with the minimum requirements, an inspector could ask for all of the serial numbers and other documentation for a particular drug distributed by that pharmacy. Pharmacies using iSolve could easily answer these questions and would have all the documentation relating to that drug.
iSolve will launch their Initial Coin Offering on Sept. 21 and will use cryptocurrency to generate revenue. Once implemented, tokens can be earned and spent by manufacturers, wholesalers, pharmacists and patients. For example, a patient who takes a survey would earn a token, which they could use to lower their co-pay.
Founded in May 2014, iSolve is led by Gordon Tampol, chief executive officer, Kasia Piskorska, chief financial officer, Carlos Sanchez, chief technology officer and Glover, CCO. The co-founders represent over 80 years of combined experience in technology, finance, cryptocurrency and health care.
“We are all veterans in our particular industry,” Glover said.
Glover credits the education he received at the Thomas J. Long School of Pharmacy and Health Sciences as the source of foundation principles he has used throughout his career.
“The foundation you get in pharmacy school is so strong that it prepares you for opportunities that might not even be directly related to pharmacy,” Glover said. “The school itself continues to be a resource even after you graduate.”