(Alliance News) – HealthBeacon PLC on Wednesday said it was deploying its “global patient safety technology platform” across the NHS and pharmaceutical industry in Ireland, Australia and New Zealand.
HealthBeacon is a Dublin-based digital therapeutics company developing project for managing injectable medications.
The platform, developed over the last two years in collaboration with the pharmaceutical industry, helps cancer patients take medication “more safely”.
Platform is designed to “replace a paper-based system” to ensure the right people get access to the right drugs. HealthBeacon said it will also “drive down the cost of administration”.
According to HealthBeacon, the platform creates a “new recurring revenue stream”. It anticipates the technology will support more than 1,000 patients by the end of 2022.
To date more than 800 pharmacies have already adopted the system across Ireland and the UK and 12 pharmaceutical companies have bought licenses to replace their paper-based system with HealthBeacon’s streamlined software.
The first drug to be prescribed on the platform is Lenalidomide, used to treat certain cancers.
If Lenalidomide is taken during pregnancy, it poses a risk of birth defects, HealthBeacon said. Using a series of electronic checks and balances, HealthBeacon’s platform ensures the medication cannot be dispensed until a set of agreed safety protocols have been validated.
Co-founder & Chief Technology Officer Kieran Daly: “The Patient Safety Platform is a natural progression for HealthBeacon. Our digital therapeutics systems are designed to boost health outcomes for patients. Our Smart Sharps Bin has been designed to ensure patients take their injectable medication in the most effective way. Now we are using our expertise to design a new software platform ensuring the best outcomes for cancer patients from their medication.”
Shares in HealthBeacon closed up 0.9% at 2.30 pence on Wednesday in London.
By Chris Dorrell; chrisdorrell@alliancenews.com
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