October 16, 2014
TraceLink Inc., the leader in protecting patient safety and enabling health for global Life Sciences, announced today continued record sales and network growth driven by customer investments in order to meet global track and trace compliance requirements under the Drug Supply Chain Security Act (DSCSA) law which starts January 1, 2015. TraceLink recorded a 47% increase in new customer bookings for the third quarter and a 229% increase in year-over-year bookings growth. This rapid adoption makes the TraceLink Life Sciences Cloud the preferred solution of choice for meeting DSCSA compliance and global track and trace regulations. Fourteen of the top-20 global pharmaceutical companies now trust TraceLink to meet their critical business and compliance requirements—and more than 29,000 companies, from pharmaceutical manufacturers to independent pharmacies, are in the process of joining the TraceLink Life Sciences Cloud to serve their DSCSA compliance needs.
“With DSCSA deadlines less than three months away, companies are seeking a secure, cost-effective path to compliance with a partner that has the commercially proven solution, integrated network, and regulatory knowledge they need,” said Shabbir Dahod, president and CEO of TraceLink. “TraceLink customers who are already up and running are extremely pleased with how seamlessly they can now create and share DSCSA required transaction documents with their trading partners. This is a key differentiator for TraceLink customers because just a single connection to our Life Sciences Cloud will facilitate end-to-end DSCSA compliance between all customer suppliers and trading partners. No other platform in the market is prepared to manage the hundreds of millions of annual product shipment transactions for every business partner across the entire pharmaceutical supply chain.”
The TraceLink Life Sciences Cloud: A Unique Platform for Ensured DSCSA Compliance
TraceLink enables manufacturers, wholesalers and pharmacies to instantly link to tens of thousands of trading partners that TraceLink have already connected to the Life Sciences Cloud. In fact, companies who are considering TraceLink to help them meet January 1, 2015 DSCSA deadlines typically find that over 90% of the suppliers and trading partners they do business with are already on the TraceLink network. Built on the Amazon Web Services global cloud infrastructure as a native cloud based application, the TraceLink Life Science Cloud uses on-demand computing resources and database architectures specifically designed to handle massive sets of track and trace data and network connections in ways that traditional, on premise systems and relational databases cannot.
This unique platform architecture enables TraceLink to be the only company that can connect all pharma supply chain participants from manufacturer to dispenser for DSCSA compliance. Once TraceLink customers have been set up on the platform, they are instantly able to share DSCSA compliance documents and data with all partners already configured on the Life Sciences Cloud. This eliminates traditional point-to-point integration work and costs, and ensures these business partners are DSCSA-enabled to meet tight deadlines.
TraceLink delivers comprehensive end-to-end DSCSA compliance in weeks, including complete DSCSA Tracing, Verification and Serialization capabilities and extensive operational support for the unique operational use cases impacted by DSCSA compliance.
To ensure that you meet critical DSCSA compliance deadlines or to build a flexible global serialization, track and trace, and reporting platform for China to Brazil, , visit www.tracelink.com.
TraceLink protects patients and enables health for companies across the global Life Sciences supply network through the TraceLink Life Sciences Cloud. The TraceLink Life Sciences Cloud is an Amazon AWS-based cloud application platform which enables complete global connectivity, visibility and traceability of pharmaceuticals from ingredient to patient. A single point and click connection to the Life Sciences Cloud creates a supply chain control tower that delivers the information, insight and collaboration needed to improve performance and reduce risk across global supply, manufacturing and distribution operations. Winner of numerous industry awards including the Amazon AWS Global Start-Up Challenge Grand Prize and the Edison Award for Innovation in Health Management, the TraceLink Life Sciences Cloud is trusted by fourteen of the top-20 pharmaceutical companies and businesses across the globe to meet strategic goals in ensuring global compliance, fighting drug counterfeiting, improving on-time and in-full delivery, protecting product quality and reducing operational cost. For more information on TraceLink and our solutions, visit www.tracelink.com.
TraceLink is funded by FirstMark Capital. FirstMark Capital is an early stage venture capital firm based in New York City. FirstMark’s mission is to partner with exceptional entrepreneurs who are changing the world by solving meaningful problems. FirstMark has built a deeply engaged community among the extraordinary teams in the FirstMark network to spread ideas and opportunities. FirstMark is privileged to work alongside the founders of remarkable businesses like Pinterest, Lumosity, Aereo, TapAd, Shopify, Riot Games, and dozens more. Visit FirstMark in New York City or online at firstmarkcap.com and @FirstMarkCap.