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.
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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.
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“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.”
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