OTraces - Cancer Screening Cloud-based Software
The OTraces technology platform drives multiple business opportunities. The software is embedded into a laboratory information management system (LIMS) wherein all patient and instrument data is stored in secure U.S. based servers. This software is the principal value-add for the company’s instrument systems now being developed for prostate and eventually breast cancer patient monitoring and screening, and access is now being offered to other companies through a unique cloud-based deployment program that could take higher predictive power to other companies and laboratories around the globe.
Software Overview
Cloud-Based Test Predictive Power
Enhancement Collaborations with Others
In partnership with Bio-IT Solutions, Inc. OTraces has developed a cloud-based system in which companies seeking higher accuracy send their raw biomarker data to OTraces’ servers for almost instantaneous processing, wherein the licensee or partner could achieve improved accuracy in exchange for paying OTraces either on a fee-for-service or revenue-sharing basis.
This is a highly interesting proposition because potential demand for this service is extensive, the business is highly scaleable, OTraces has strong potential pricing power as sole supplier, regulatory oversight in some cases should be limited, and associated processing costs for OTraces are nominal so profit margin potential should be very high.
Specific provisions of the cloud-based system include the following:
- On-demand service provision — The reach of the internet enables qualified partners to submit data and receive results wherever and whenever they want, without constraints of geography or time.
- Scaleability — Ability to run many concurrent analyses; easy to increase capacity as needed based on customer demand, complexity of algorithms or size of data sets to be analyzed.
- Product/Service Expansion — Straightforward to add new disease diagnoses, test methods, analytical techniques, data collection methods, reports and similar capabilities.
- Consistent Service Delivery — Software, algorithms, training sets, reports, and related capabilities delivered consistently and reliably with full traceability.
- Data Security and Access Control — The diagnostic platform will adopt the authentication, access control, data encryption and monitoring methods consistent with the best Internet applications that handle credit card information, patient medical records and similar private content.
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