modum.io AG announces its cooperation with Swiss Post to deliver an industry-leading, temperature-monitoring solution that enables regulatory compliance for shipments containing medicinal and other temperature-sensitive products.
modum and Swiss Post have been in collaboration since summer 2017 and are currently running initial pilot projects, successfully serving key customers. They are working towards a deep integration of modum’s temperature-logging devices within Swiss Post’s track-and-trace system. This integration will enable a workflow with minimal changes to Swiss Post’s established logistics processes. The solution will provide players in the pharma sector with a reliable and scalable process for monitoring the state of goods and demonstrating legal compliance to auditors. The fully wireless and digital, blockchain-based data-management solution also provides new levels of data insight and data handling.
Under recent changes to the Good Distribution Practice of medicinal products for human use regulation (GDP 2013/C 343/01), pharma distributors and logistics providers are required to maintain a record of all the temperatures that medicinal products are subject to while in transit. The collaboration between modum and Swiss Post will provide an innovative solution to these new compliance challenges for logistics providers.
Across the EU, of the over 200 million shipments that contain pharmaceutical products per year, 90% are considered “last mile”, occurring between distributors and dispensers (hospitals and pharmacies for example) in high-volume but low-value parcels. Through this collaboration modum and Swiss Post will deploy a #blockchain-based solution for pharmaceutical manufacturers and suppliers to maintain compliance in these last mile shipments, positioning modum’s solution for widespread adoption across Europe to serve this large market.
modum delivers its solution to distributors on a per-shipment basis, data is stored in a secure, blockchain-based data-management system that allows for efficient audits by regulators.
Swiss Post is working with modum, as a lean and innovative company that will customize a solution to their specific requirements as a last-mile pharma distributor. Once demonstrated with Swiss Post, modum will replicate this model for major logistics providers across Europe.
modum’s CEO, Simon Dössegger, explains further: “Because of the volume of last-mile shipments and the diverse network of recipients, cost-efficient and regulatory compliant temperature monitoring is a particular challenge for pharma distributors since the new regulatory guidelines are in place. modum is proving a solution that enables EU GDP compliance with an integrated solution at the level of an individual parcel. Our collaboration with Swiss Post is the starting point for demonstrating our solution’s efficacy over conventional offerings in the market. Their team and the Open Innovation program has been a fantastic resource for helping us to refine our technology into a reliable, scalable, easy-to-integrate solution that intelligently leverages blockchain and IoT technology.”
About modum.io AG
Founded in 2016, modum.io AG is a tech startup developing systems to improve supply chain processes by combining the best of blockchain technology and IoT. Based in Zürich, between the “Crypto Valley” in Zug, a hot spot for fintech and #cryptocurrency innovation, and Basel, a European pharma hub where Novartis and Hoffmann-La Roche are headquartered, modum.io is perfectly located to bring our innovative solution to market.