Partnership Focuses on Motivating Recovered Plasma Donors for Development of New Therapeutic
HENDERSON, Nev. and NEW ORLEANS – December 10, 2020 – (Business Wire) – Paysign, Inc. (NASDAQ:PAYS), a leading provider of prepaid card programs, digital banking services, and payment processing, along with ImmunoTek Bio Centers LLC, a growing biotech company focused on source plasma collection, today announced their successful efforts to integrate COVID-19 convalescent plasma collection with a prepaid card program for donor compensation.
ImmunoTek has established source plasma collection from recovered COVID-19 patients on site at Mount Sinai. Once collected, the plasma will be used to develop and manufacture COVID-19 hyperimmune globulin for evaluation in clinical trials. The trial aims to receive potential emergency use authorization or broader FDA approval for the patient therapy.
Paysign, a longtime ImmunoTek partner, has built and refined a prepaid debit card program for the plasma collection industry that addresses their unique set of needs, while motivating and rewarding source plasma donors to increase both the frequency of donations and retention of repeat donors. Paysign’s integrated solution enhances the donor experience with a customized prepaid card program designed to also streamline the payments process for ImmunoTek and their clinical trial partners.
“Being a partner to the plasma collection industry since 2011 has uniquely positioned us to provide the precise set of services and technologies that are aiding companies in their critical work of source plasma collection,” said Mark Newcomer, president and CEO of Paysign. “We are honored to work hand-in-hand with ImmunoTek in establishing this solution for donors, including at the Mount Sinai Health System where ImmunoTek currently is making significant efforts in supporting collection of convalescent plasma for COVID-19 hyperimmune globulin clinical trials.”
“During the development of this extremely important and time-sensitive therapy, we are thankful for the support of our longtime payments partner, Paysign,” said Jerome Parnell III, CEO and president, ImmunoTek Bio Centers. “We knew their tried-and-tested donor compensation program would help us facilitate the collection process for vital plasma needed for the COVID-19 hyperimmune globulin clinical trials.”
Paysign, Inc. is a leading provider of prepaid card programs and integrated payment processing services designed for businesses, consumers, and government institutions. Incorporated in 2001 and headquartered in southern Nevada, the company creates customized, innovative payment solutions for clients across all industries, including pharmaceutical, healthcare, hospitality, and retail. Built on the foundation of a reliable payments platform, Paysign’s end-to-end technologies securely enable digital payout solutions and facilitate the distribution of funds for donor compensation, copay assistance, customer incentives, employee rewards, travel expenses, per diem, as well as reimbursements and rebates. Paysign’s solutions lower administrative costs, streamline operations, increase revenues, accelerate product adoption, and improve customer, employee, and channel partner loyalty. To learn more, visit paysign.com.
About ImmunoTek Bio Centers LLC
ImmunoTek Bio Centers is an emerging bio-tech company committed to the safe collection and procurement of human blood plasma from the public. The management team has extensive experience in the blood, plasma, and biopharma industries. Through contracts and strategic agreements with pharmaceutical companies, IMMUNOTEK is fully capable of constructing, opening, FDA/EU licensing, and managing multiple plasma collection sites and plasma supply contracts in order to meet on going demand in the plasma proteins therapeutics market. Growth of current therapeutic drugs and vaccines as well as additional new therapeutic indications expected to put considerable strain on global blood plasma supply. IMMUNOTEK currently owns and operates plasma collection centers in the USA and has over 40 collection centers in development through 2020. For more information, please visit www.immunotek.com.
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