The partnership is possible thanks to a STTR Fast-Track grant awarded by the National Institutes of Health/National Cancer Institute.
The grant offers a total of $1.73 million in funding over two-and-a-half years, beginning with $250,000 already awarded for the first six months, according to a news release.
Vivor plans to use the grant to address cancer care, as high financial burdens disproportionately affect cancer treatment and outcomes.
“This STTR Fast-Track grant from NCI allows us to develop technology that reduces financial toxicity by taking advantage of existing but underused resources,” Vivor CEO Ian Manners said in a statement. “Beyond the benefit for patients, this technology will also have significant commercial potential due to its compelling value proposition for provider organizations and pharmaceutical companies.”
In Phase I of the project, Vivor will develop a web-based tool that will help patients identify financial assistance resources, according to a news release. The tool will undergo preliminary testing by DCI.
In Phase II, Vivor will extend the new product into a fully-featured mobile app that allows patients to estimate and plan their expenses during treatment, identify assistance programs and coordinate with a financial counselor to secure financial assistance, according to a news release. A trial at DCI will measure the product’s ability to reduce patient out-of-pocket costs, as well as the impact on patients’ knowledge of financial resources, quality of life and subjective financial distress, the news release states.
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