On 9 January 2019, a leading information technology company, ShareRoot Limited (ASX: SRO) announced Cancer Trials Australia (CTA) as the third partner participant in the application of MediaConsent project to medical research and healthcare settings. The project is led by The Social Science (TSS), the ShareRoot’s acquisition of 2018. Cancer Trials Australia joins the previous two medical research collaborators of the project namely St Vincent’s Hospital of Melbourne and Neuroscience Trials Australia, a non-profit neuroscience research firm.
ShareRoot Limited is a leading information technology company engaged in providing consumer data and privacy protection solutions to consumers and companies, facing complex issues in the era of digital marketing via three important platforms: “Legal Rights Management UGC,” “The Social Science” and Media Consent.” MediaConsent is SRO’s newly launched platform offering an interactive dashboard to users to search, request and legally acquire User Generated Content (UGC). MediaConsent Medical project kicks off with all MOU collaborators on 1 February 2019 in Melbourne, to determine how clinicians, researchers, healthcare administrators, digital health developers and patients want to access, aggregate, analyze and control health data.
Cancer Trials Australia, a not-for-profit organization, is into the business of offering clinical trial partnerships and associated financial management solutions to research organizations. Since formation in 1993, CTA has supported the administration of over 1,300 oncology clinical trials conducted within Australian hospitals, which have recruited more than 8,000 cancer patients.
Following are the benefits of the MediaConsent platform in a healthcare setting-
- The real-world data and evidence can be accessed via a single consent platform that puts the patient in control.
- MediaConsent will not be holding any data, offering a significantly reduced data security risk.
- There will be flexibility to use data from patient’s social media to understand a patient’s historical experience with an ailment or injury.
- A rich, vertically integrated diverse dataset will be available that may offer new insight into causal relationships, attitudes, behaviors and outcomes — a compliant platform with new regulations regarding data ownership, data security & privacy as well as existing codes of conduct, that all healthcare providers and developers must adhere to.
Data for the MediaConsent Medical platform would be retrieved from social media, private and public health records and statistics, subject to patient’s consent. The shared goal with the MediaConsent clinical collaboration is to demonstrate how ShareRoot’s technology protects patient data and privacy while supporting the advancement of clinical research within a secure and compliant platform that ethically draws data from multiple sources including wearables and social media.
As stated by Michelle Gallaher, MD of The Social Science and leader of the MediaConsent Medical project, “the company is looking forward to patients donating their data to support clinical studies and medical research. The management understands the growing importance of real-world data and evidence placed by global regulators and the biopharma industry in shaping new medical treatments and drugs.”
Stock performance:
Post releasing the collaboration news, the shares of ShareRoot ended today’s session in red, closing at AUD 0.001, down from the previous close of AUD 0.002. Over the last three months, the company’s share price dropped massively by 60%. The scrip price declined by 33% since the previous three months.
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