PERTH, Australia, Feb. 27, 2025 /PRNewswire/ -- Neopharma Technologies Ltd (Neopharma) is pleased to announce a strategic partnership with AusChain Pty Ltd, a global leader in scalable blockchain solutions specializing in product traceability through QR codes. AusChain has successfully implemented over 30 million Blockchain-based QR codes across 70 international projects, covering more than 1,000 SKUs to date.
This collaboration aims to support the large-scale global rollout of Neopharma's NEOVAULT® platform in the coming year. As part of this initiative, drug test kits will be paired with NEOVAULT® through unique QR codes embedding complete essential and manufacturing data without interference, which will be activated and affixed to each finished kit. Neopharma is currently preparing for NEOVAULT® enablement of the first 5 million drug test kits, with a weighted pipeline of over 100 million QR codes projected in the next few years.
Neopharma's global growth strategy focuses on partnering with leading drug test kit manufacturers, who collectively sell hundreds of millions of test kits annually. By integrating a standardized QR code on each kit at the point of manufacture, NEOVAULT® can track all recorded manufacturing data of the kits on a unified platform, as well as link any subsequent drug test reports and impairment test reports to the original device and donor. Neopharma's revenue model includes per-service report fees as well as SaaS model subscription services for impairment testing. This arrangement allows manufacturers to gain a new revenue stream while enhancing their product offerings to both existing and future clients, while Neopharma benefits from their extensive global sales and distribution networks.
Leadership Quotes
Marcus L'Estrange, Executive Chairman of Neopharma Technologies : "We are excited to be working directly with AusChain CEO Do Van Long to support the global rollout of our unique Drug and Impairment Testing platform, NEOVAULT®. AusChain's proven track record in large-scale QR code enablement projects across multiple industries—and their experience working directly with manufacturers—makes them an ideal strategic partner at this stage of our global expansion."
Do Van Long, CEO of AusChain Pty Ltd : "Neopharma Technologies' global growth strategy represents another significant opportunity for AusChain. After collaborating with their executive team for the past six months, I am very pleased to be part of this journey as they launch large-scale QR code implementation projects with major manufacturers worldwide. We look forward to growing together for mutually beneficial outcomes."
Media Contact
Shaun Melville