An invention promotion agreement has been signed by New Directions Technology Consulting and iRx Reminder to develop bidirectional smartphone-based solutions aimed at collecting real-time data and lowering the cost of clinical trials.
The companies announced the nonexclusive agreement on Wednesday 24th of April, however, it has been effective since the 4th of April.
Go deeper with GlobalData
Together the companies will collaborate on the development of software and devices that incorporate the intellectual property of iRx Reminder and the mMed mobile medication management patent portfolio, for which New Directions is exclusive market developer.
US-based mobile health application service provider iRx Reminder and New Directions will focus on bidirectional communication, which includes extensive communication and reporting capabilities between patients, their healthcare teams and healthcare insurers.
iRx Reminder founder and CEO Dr Anthony Sterns said; "Combining our patented technologies with the mMed portfolio will let us enhance our SaaS mobile health offering, which already has been shown to reduce dropout rates, improve data accuracy and speed up completion times of clinical trials."
New Directions managing director and inventor of the mMed patents, Napoleon Monroe, said there are thousands of mHealth applications being used today, but that most provide ‘nagging’ technologies, such as alarmed pillboxes and texting services, but no tracking, reporting, feedback or interaction for data gathering or interaction.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData"We strongly believe that bidirectional communication and the smartphone as its tool is the collective key to protocol compliance, which is crucial to the success of any clinical trial," Monroe said.
Image: The two companies have joined to develop "biodirectional communication" tools. Photo: Courtesy of Andrew.
