Arxum GmbH
Arxum GmbH Launching EIC Financed Acceleration Project for Compliance Digitisation in the Pharma Sector
The European Innovation Council (EIC) has selected Arxum as one of the few beneficiaries of the EIC acceleration program. On July 5th 2022 Arxum and European Innovation Council and SMEs Executive Agency (EISMEA) signed the grant agreement in order to bring Arxum’s blockchain-based compliance digitisation solution to life science laboratories on a European scale. The project matches several of the EU’s strategic areas of interest.
The EIC is Europe’s flagship innovation programme to identify, develop and scale up breakthrough technologies and game changing innovations. The EIC has been established under the EU Horizon Europe programme with a budget of €10.1 billion to support game changing innovations throughout the lifecycle from early stage research, to proof of concept, technology transfer, and the financing and scale up of start-ups and SMEs. Arxum GmbH from Kaiserslautern, Germany, has introduced an innovative solution based on blockchain technology in order to digitally secure data integrity and to reduce paper-based efforts in life science laboratories. Arxum is rolling out this solution to tackle patient safety and laboratory efficiency in an industry domain which is dearly looking for effective digitisation solutions. The EIC provides Arxum with a grant of EUR 1.5 million for the development of further features. In a second phase a VC investment with a matching fund by the EIC is to follow. Arxum will use the funds to broaden the application’s market fit and to create customer value to the laboratory sector. About the project: The Blockchain-based Laboratory Operations Control System (BLOCS) aims at monitoring the analyses performed on a laboratory software and at detecting whether the raw data have been altered by anomalies resulting from protocol errors or actions that do not comply with GxP rules. BLOCS records in real time the events that occur on the files from the lab software and sends them to a smart contract on a blockchain. Any deviation is reported and triggers configurable alarms. The strength of this approach lies in the trust provided by the Smart-Contract running on the blockchain: it contains the business logic that decides whether the latest event impacts the validity of a laboratory analysis performed. There is no way to bypass this GxP-relevant business logic or to override the history on the blockchain. See https://eic.easme-web.eu/?b=898139491 Issuer: Arxum GmbH Key word(s): Information technology
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