Greenphire, the King of Prussia financial technology company, is helping participants in clinical trials around the world overcome financial and logistical hurdles with its ClinCard debit card and connected Travel Module, writes Fabiola Cineas for Philadelphia Magazine.

The new system provides pre-arranged travel and prepaid fees that allow people with rare orphan diseases who may otherwise be blocked by the cost of travel, to participate in clinical trials.

“The administrative burden of managing payment for thousands of clinical trial participants was substantial for our clients,” said Greenphire’s CEO, Jim Murphy. “And patients had very little control in the process.”

On average, between 2,000 and 3,000 new clinical trials begin each year around the world, with more than 9,000 studies listed by clinicaltrials.gov in Philadelphia alone.

Considering that orphan diseases affect a small number of people, the consequences of not retaining patients for trials can cause significant delays in drug-testing timelines. Greenphire has managed to grow by expanding its worldwide client base.

“It’s a conservative industry, but there is growing enthusiasm to embrace different types of technologies,” said Murphy.

Read more about the ambitious fintech at Philadelphia Magazine by clicking here.