FedEx Institute will partner with pharmacy company

The FedEx Institute of Technology is partnering with Good Shepherd Pharmacy to build a new blockchain infrastructure in Memphis to help get needed cancer medications into people’s hands.

Blockchain technology allows information to be distributed securely, and that can help with Memphis-based Good Shepherd’s initiatives to retrieve unused medications from cancer patients and make them available to the disadvantaged.

“In Tennessee alone, over $10 million worth of perfectly good prescription medication gets flushed down the toilet every year,” said Phil Baker, Good Shepherd Pharmacy’s CEO.

“Blockchain is the solution for that problem. The REMEDI project (REclaiming MEDicine) will divert valuable medication into the hands of patients who would not otherwise use it.”

FedEx Institute will host an event with Blockchain 901, which specializes in expanding Memphis’ technology workforce. The event will offer blockchain enthusiasts and professionals the opportunity to connect and discuss the challenges of Good Shepherd’s blockchain resource development program.

“One of the most valuable resources universities can provide to the innovation ecosystem is the space to explore new ideas and opportunities in an unrestrained environment,” said Cody Behles, FedEx Institute’s Innovation and Research Support’s assistant director.

“Memphis is attracting next-wave startups that recognize that setting up shop in traditional renovation markets like San Francisco is not always the best business decision. We are here to cultivate collaboration through aligned partnerships and amplification or opportunity.”

The FedEx Institute of Technology’s “hacknight” event will take place July 10 at 5:30 p.m. in the Fishbowl at the FedEx Institute.