Ukrainian medtech startup DrugCards, a company that aims to provide pharmaceutical companies with “unparalleled insights” into products’ safety, announced that it had secured funding from New Nordic Ventures.
While the funding amount has not been disclosed, DrugCards notes that this collaboration entails more than just financial investment.
The company says it signifies a strategic partnership that promises to bring immense value to DrugCards’ overarching mission.
The company aims to simplify the complexities inherent to drug safety as pharmacovigilance is one of the pivotal processes in the pharmaceutical industry.
DrugCard offers an affordable software solution that fully adheres to regulations, designed explicitly for drug safety departments to streamline the process of automated medical literature monitoring.
This company claims that this product contributes to cost reduction and streamlining of routine operations for pharmaceutical firms, all while ensuring strict adherence to regulatory standards in the field of pharmacovigilance.
The company seeks not only to automate routine tasks but also to empower professionals to apply their qualifications, skill sets, and extensive experience in making crucial decisions related to drug safety protocols.
Currently, the system offers features such as continuous monitoring of medical literature and reporting on adverse drug reactions (ADRs), including analysis and communication through E2B(R2)/(R3)/CIOMS.
It also offers seamless integration with medical databases and terminology, the generation of reports for regulatory authorities, and the inclusion of a compliance module that adheres to modern validation requirements.
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