TY - JOUR

T1 - Non-Fungible Tokens as a Framework for Sustainable Innovation in Pharmaceutical R&D

T2 - A Smart Contract-Based Platform for Data Sharing and Rightsholders Protection

AU - Corrales Compagnucci, Marcelo

AU - Nilsson, Niclas

AU - Wagner, Paul

AU - Olsson, Christoffer

AU - Fenwick, Mark

AU - Minssen, Timo

AU - Szkalej, Kacper

PY - 2023

Y1 - 2023

N2 - Research and development (R&D) in the pharmaceutical sector traditionally operated within closed, siloed institutional settings, driven by intellectual property rights concerns that viewed data sharing as a threat. However, the evolving scientific landscape demands a more collaborative approach involving external engagement and dynamic partnerships. To address this, a hybrid contractual framework combining smart contracts, non-fungible tokens (NFTs), and traditional licensing schemes is introduced. This framework was developed through an experimental pilot platform that adhered to FAIR data principles, allowing participants to store, find, and reuse data related to drug discovery. The platform utilizes blockchain technology to document real-world assets in an immutable digital ledger. Smart contracts andNFTs offer an open and global collaborative platform for advancing drug research assets, overcoming hurdles related to standardization, interoperability, and disclosure. This framework aims to reconcile the conflict between the demand for greater data sharing and the protection of rightsholder interests in pharmaceutical R&D. By providing mechanisms for resolving practical challenges, it facilitates further cooperation and innovation in the field.

AB - Research and development (R&D) in the pharmaceutical sector traditionally operated within closed, siloed institutional settings, driven by intellectual property rights concerns that viewed data sharing as a threat. However, the evolving scientific landscape demands a more collaborative approach involving external engagement and dynamic partnerships. To address this, a hybrid contractual framework combining smart contracts, non-fungible tokens (NFTs), and traditional licensing schemes is introduced. This framework was developed through an experimental pilot platform that adhered to FAIR data principles, allowing participants to store, find, and reuse data related to drug discovery. The platform utilizes blockchain technology to document real-world assets in an immutable digital ledger. Smart contracts andNFTs offer an open and global collaborative platform for advancing drug research assets, overcoming hurdles related to standardization, interoperability, and disclosure. This framework aims to reconcile the conflict between the demand for greater data sharing and the protection of rightsholder interests in pharmaceutical R&D. By providing mechanisms for resolving practical challenges, it facilitates further cooperation and innovation in the field.

U2 - 10.1080/13600869.2023.2233803

DO - 10.1080/13600869.2023.2233803

M3 - Journal article

VL - 38

SP - 66

EP - 85

JO - International Review of Law, Computers and Technology

JF - International Review of Law, Computers and Technology

SN - 1360-0869

IS - 1

ER -