Recap: Transcript from Aprils AMA with ClinTex Co-Founders
JUN：**Hi, everyone! Welcome to the XT AMA Channel. I’m Jun, CBO at XT.com. I am hosting today’s AMA with ClinTex. Let me give a brief introduction to XT first.
XT.com is the world’s first real-time social trading platform with 0% leverage interest. The XT ecosystem has over 6 million global users with a daily transaction volume of close to $5 billion. The platform has real-time indicators and tools that bring the best trading atmosphere for all users.
Today, our guests are Brendan and Neill from ClinTex. Let’s talk to them to learn about CTi.
JUN：**Hello Neill, Brendan, thank you for joining us for the XT and CTI AMA!
BRENDAN: Thanks for having us!
JUN: Can you give our audience a brief introduction of CTI?
NEILL: CTi stands for Clinical Trial Intelligence. Our platform does just that — it consists of 7 different applications that derive intelligent analytics from all types of clinical trial data, and it is these analytics that can be used to drive efficiency in clinical trials — our analytics expose and predict the occurrence of key pain points during a clinical trial, allowing a pharma company to take action proactively to make their trial more efficient.
Ultimately the aim is to eliminate/prevent these pain points so medicine can get to patients more quickly and at a cheaper cost to society. CTi is not just an analytics platform however — it is also a collaboration platform to enable pharma companies to share “intelligence” — never has this been more obvious as a weakness than during the pandemic. Going forward, the focus will be on blockchain to address these weaknesses — the world will never be the same again and ClinTex will be in prime position to support the changing pharmaceutical industry.
JUN: I have checked your project has got impressive ratings by some top crypto rating websites. How do you take these ratings?
NEILL: We are humbled by these ratings, but our focus is firmly on value for patients, value for token holders and delivering value to the pharmaceutical industry for the benefit of society as a whole. Ratings, although they help shine a light on what we are doing, are not what we are chasing. We are chasing faster cheaper and safer new medicines for patients with unmet need.
JUN: Can you introduce the core team members of CTi? We hear that the team is highly experienced, can we get some examples?
BRENDAN: On the clinical side of things, we have many years of experience working in global clinical trials for some of the biggest pharma companies in the world. For example Neill leads the design and development of the CTi platform, ensuring it meets current and future real-world challenges for the pharmaceutical industry. He has 25 years’ broad clinical development experience through a blend of senior roles in clinical data management, data analytics, technical/process improvement and site data monitoring. He has been recognised as an opinion leader in the clinical trial analytics and their application to improving clinical trial efficiency.
Ethan Diamant also brings 20 years of valuable clinical trial experience to the team. Ethan has held various roles in the pharmaceutical industry focused on operational excellence and optimization of clinical trial processes.
Both Neill and Ethan have been consulting extensively with pharma companies over the years and we are confident we have the right product and the right connections to deliver CTi into the industry.
My own experience then is predominantly in financial operations, consumer marketing and of course, digital assets. I’ve been closely following everything in the blockchain space since 2012 and have been involved with cryptocurrency since 2013.
When Neill outlined the data issues in clinical trials back, blockchain jumped off the page as a perfect solution. This fusion is where the two industries meet.
JUN: Can you give our community a brief introduction behind the inspiration to build CTI?
BRENDAN: I met Neill at the DIA Forum in Vienna in 2014, where he was presenting on the opportunity of data to shape the way we conduct clinical trial. He was presenting to a large audience on using data to drive a risk-based approach to running clinical trials and I immediately made the connect to the value that blockchain could add to his vision.
Neill has experienced first-hand the problems and delays in clinical trials and is passionate about how data can make a difference — and how the medium of blockchain can drive this forward by providing an immutable audit trail, allowing for the creation and evolution of a decentralised “clinical intelligence” database, which CTi will use for powerful machine learning algorithms that will increase in potency over time.
Ultimately, our inspiration is the patient, and particularly patients with unmet need. We have a strong belief about how we can use data and blockchain technology to remove inequity, inefficiency and unfairness for the benefit of patients, the industry and of course, our token holders that made this all possible along the way.
JUN: In the Crypto industry, what do you think of the current state? What do you think that needs to be improved?
BRENDAN: It’s been great to see confidence back in the market this year and the rise of excellent crypto and smart contract use-cases in decentralized finance and loaning.
With all the new found attention as usual will come regulatory scrutiny, some good (for example — oversight of stablecoin reserves) and some maybe… challenging, if regulators attempt to shoehorn new tech and new industries into old rules, but in general it’s great to have seen and been part of the current wave in the first 5 months of the year.
That said — obviously, last week brought mega pain, especially where alt coins are concerned. My take on this is that most of the drivers of it are short term — the use of renewable energy to mine Bitcoin is actually a net-positive for the space in general and this should be apparent once the shock subsides.
And while 1000x on dog based meme tokens was fun, it’s not a healthy market and could never be sustainable.
The fundamentals have not changed in the cryptocurrency and blockchain space and the strong projects with real use-cases, as ever, will come out of this stronger.
And this the bracket we see CTi fitting in — our vision is that CTi’s use of blockchain technology will have a positive impact on people’s health and happiness for long into the future.
We seek to use blockchain to drive a positive change in the world through ensuring an expedited medicine delivery, something we believe transcends the standard ups and downs of the cryptocurrency markets and for CTi token holders will deliver healthy, sustained growth and value beyond the usual crypto-cycles.
JUN: How does the CTI team plan to tackle these issues to reach mass adoption?
NEILL: It is important to realise that the opportunity here is huge.
Just a 1% average cost reduction across clinical trials running today would generate a saving of $3.5 billion across the industry.
Really, what that translates to for a tokenised project like this, is an opportunity for token buyers and traders to gain exposure to a totally new industry that will bring a whole new buy-side pressure into the blockchain asset space.
Our expert team have seen the problems first hand — it is clear to us that demand will be driven by the simple fact that pharma are (1) Looking to increase efficiency (2) Looking to exploit blockchain technology — CTi ticks both those boxes so are optimally placed to take advantage of the industry’s shift towards more efficiency driven by technologies such as blockchain.
BRENDAN: In regard to getting actually real pharma clients onto the platform and using CTi in their trials. Well, we are not naive enough to expect that those corporate healthcare organisations are likely to purchase CTI tokens from an exchange (although hopefully someday!) but we do have a solution in that a subsidiary of ClinTex in the UK will act as a brokerage to facilitate that process.
The ClinTex subsidiary will accept fiat for the service and provide the license to the pharma client. This is critical from a customer experience point of view — in order to get the platform into real live clinical trials, the UX has to be seamless for them.
In the background though, the ClinTex brokerage service will be purchasing the CTI tokens for the licence from the open market. This is important to note for token holders too as there is also of course the benefit in the scarcity value of the token after the platform launch. When clients are on-boarded to the platform, their tokens are staked and removed from the circulating supply pool. This equates to a market buy of an average of $250,000 worth of CTi, for every single pharma client that on-boards the platform. It’s that reducing supply mechanism (especially when combined with the planned marketing efforts from ClinTex), that is expected to have a huge value-driving effect on the tokens remaining in the supply pool.
It’s the best of both worlds, a constant volume and buy pressure from the pharma world is brought to the CTI token via the ClinTex subsidiary, while the client sides user experience remains constant and familiar.
JUN: What is your timeline, and what can we look forward to from CTI？
NEILL: In early July, ClinTex are planning a soft launch of our Operational Excellence Application (CTi_OEM). This will be followed closely by our Predictive Analytics application (CTi_PDA) and Patient Retention and Recruitment (CTi_PRR). Following this will be the Clinical Data Visualisation application (CTi_CDV). Each of these applications address different areas of inefficiency and quality risks in a clinical trial.
Our plan is on track to have live client onboarding and revenue generation by end 2022. Our roadmap is available on www.clintex.io and our regular development updates are available on the ClinTex medium channel here — https://clintexcti.medium.com/
JUN: Anything else do you want to share with our community?
NEILL: Just to add that the CTi platform distinguishes itself from other tools used in clinical trials by bringing machine learning to end-to-end clinical trial management for the first time. By end-to-end, we mean applying powerful and insightful data analytics functionality across administrative, operational and clinical functions in clinical trials. Not done by any other tool.
Also, the blockchain backbone for the tool enables full audit-trail functionality to identify, action and resolve issues detected — another unique selling point that places ClinTex CTi in prime position as the industry evolves to embrace this technology.
Clintex CTi will also be the first ever collaboration platform for clinical trials.
BRENDAN: Finally, don’t forget that the CTi staking program is live over on our website at https://clintex.io/stake . This is single asset staking with a 21% yield over just 3 months — our way of thanking the community for their support and fairly distributing the CTi token.
This is the final CTi that will ever be distributed, no more tokens will ever be minted and once the platform is launched, that’s when the supply starts to (vastly) reduce between corporate licence staking and token burns on licence expiry.
JUN: Thank you, Neill and Brendan, for taking the time to do this AMA with us today. It has been great learning more about CTI and the team behind it!
About ClinTex
ClinTex are a solution provider to the pharmaceutical industry, and the team behind CTi — Clinical Trials Intelligence: a new type of software platform aimed at transforming the medicine development industry through the application of predictive analytics, machine learning, and the novel use of blockchain technology and smart contracts in clinical trials.
Our mission is to bring down the cost of medicine and improve the speed to market of new medicines for the people who need them, through vastly reducing development costs for the global pharmaceutical industry.
Follow Us:
- Medium: https://medium.com/@clintexcti
- Twitter: https://twitter.com/clintexcti
- Website: https://www.clintex.io/
- Telegram Discussion: http://t.me/clintexcti
- Youtube: https://www.youtube.com/channel/UC66MPSniK52KFZwE_SIDsOA
- LinkedIn: https://www.linkedin.com/company/eclintex-ltd/
- Reddit: https://www.reddit.com/r/clintexcti
