Neopharma Technologies Enters into Partnership with AusChain for NEOVAULT®
Friday, February 28, 2025
Neopharma Technologies has announced a strategic partnership with AusChain.
AusChain has implemented over 30 million blockchain-based QR codes across 70 international projects, covering more than 1,000 stock-keeping units (SKUs).
The partnership will support the large-scale global expansion of Neopharma’s NEOVAULT® platform in the coming year. As part of this initiative, drug test kits will be integrated with NEOVAULT® using unique QR codes that securely store manufacturing and essential data.
These codes will be activated and affixed to each finished kit, ensuring accurate tracking. Neopharma is currently preparing for the first five million drug test kits to be enabled with NEOVAULT®, with projections indicating more than 100 million QR codes over the next few years.
Neopharma’s global strategy focuses on working with leading drug test kit manufacturers, who collectively distribute hundreds of millions of kits each year.
By incorporating a standardised QR code at the point of manufacture, NEOVAULT® will enable comprehensive tracking of manufacturing data while also linking drug test and impairment test reports to the original device and donor.
Neopharma’s revenue model includes per-service report fees alongside a subscription-based software service for impairment testing. This model offers manufacturers an additional revenue stream while improving their product offerings for both existing and potential clients.
The collaboration also allows Neopharma to leverage the manufacturers' global sales and distribution networks, supporting the widespread adoption of NEOVAULT®.
Source: prnewswire.com
