Greenphire announces payment system contract with Bavarian Nordic
The company said the Bavarian Nordic trial will last approximately one year and involve more than 35 investigational sites and more than 4,000 trial subjects. The ClinCard system was designed to streamline the clinical payment process for the trial, allowing Bavarian Nordic, a Denmark-based vaccine-focused biotechnology company, to reduce its administrative costs.
Bavarian Nordic will have a considerable administrative burden during the trial, as it must reimburse subjects at its investigative sites. The system will allow the sites to report accessible, real-time payments to its subjects throughout the trial. This has been reported to increase subject retention and compliance. The system utilizes global electronic payments combined with real-time messaging.
"Bavarian Nordic is looking forward to collaborating with Greenphire to ensure that payments to the 4,000 subjects involved in this trial will impose a minimal burden on the 35 participating investigative sites and will be easy for subjects to use, helping sites to increase subject retention and compliance," Siegfried Rösch, director of clinical operations at Bavarian Nordic, said.