KING OF PRUSSIA, Pa., March 13, 2013 /PRNewswire-iReach/ -- Greenphire, the industry-leading provider of payment technologies for the clinical trials industry, today announced that Bavarian Nordic, a vaccine-focused biotechnology company based in Denmark, will use Greenphire's ClinCard Technology Platform in a large, Phase III vaccine trial. The trial will take approximately 1 year and involve 35 investigative sites and more than 4,000 subjects.
Greenphire's ClinCard system will allow Bavarian Nordic to streamline its clinical payment process for the trial, reducing the administrative burden on investigative sites required for reimbursing subjects. The system will also enable sites to provide easily accessible, real-time payments to subjects throughout the trial, which has been proven to increase subject retention and compliance.
"Bavarian Nordic is looking forward to collaborating with Greenphire to ensure that payments to the 4,000 subjects involved in this trial will impose a minimal burden on the 35 participating investigative sites and will be easy for subjects to use, helping sites to increase subject retention and compliance," said Siegfried Rösch, Director of Clinical Operations at Bavarian Nordic.
"We are delighted to be working with Bavarian Nordic and to be implementing our ClinCard technology platform that will ensure all subjects involved in this trial receive payments and reimbursements quickly and with reduced cost, risk, and administrative processes," said Sam Whitaker, CEO and Co-Founder of Greenphire, "Bavarian Nordic's decision to use the ClinCard system is an example of how Greenphire's vision for clinical trial payments is increasingly accepted within the global clinical trials industry."
The ClinCard System combines global electronic payment technology with real-time messaging functionality to automate clinical trial payments made to trial subjects. Payments are delivered through electronic transfers to a reloadable branded debit card or directly to a subject-specified bank account. The ClinCard System enables subjects to access their funds securely and in real-time. Trial sponsors are able to track and report all payments made from a web-based portal in addition to automating the execution of localized trial-specific messaging to the subject via text, email, or automated voice messages. The ClinCard system reduces costs associated with subject payments by up to 60%, reduces administrative steps by 90%, and has demonstrated increased subject retention by as much as 12%.
Greenphire is the industry's leading provider of clinical payment technology, designed to change the way research professionals work. We leverage our proprietary workflow automation and advanced web‐based payment technologies to help our clients improve operational efficiency, reduce costs, mitigate regulatory risks, increase subject retention and compliance, and produce quantifiable results that improve clinical operations and strategic planning. Learn more at www.greenphire.com.
About Bavarian Nordic
Bavarian Nordic is a vaccine-focused biotechnology company developing and producing novel vaccines for the treatment and prevention of life-threatening diseases with a large unmet medical need. The company's pipeline targets cancer and infectious diseases, and includes ten development programs. In oncology, the company's lead program is PROSTVAC®, a therapeutic vaccine candidate for advanced prostate cancer that is the subject of an ongoing pivotal Phase 3 trial and is being developed under a collaboration agreement with the National Cancer Institute. In clinical Phase 1 and Phase 2 trials, PROSTVAC® has been tested in nearly 600 patients. In infectious diseases, the company's lead program is IMVAMUNE®, a non-replicating smallpox vaccine candidate that is being developed and supplied for emergency use to the U.S. Strategic National Stockpile under a contract with the U.S. Government. For more information, visit www.bavarian-nordic.com