TRAXX by KLATU™ Replaces Traditional Fail-and-Fix Maintenance Practices with a Next-Gen Monitoring Solution That Can Predict and Prevent Cold Storage Failures Before They Occur.
The COVID-19 pandemic amplified the importance of reliable cold storage to protect valuable vaccines, but the life sciences industry has continued to rely on antiquated cold-storage practices. KLATU Networks is committed to changing the game with the industry’s first monitoring solution that can predict and prevent cold storage failures before they occur. It wants cold storage operations in the life sciences to make freezer failures resulting in the loss of refrigerated biological materials a “never event,” similar to how healthcare systems view preventable events that result in a loss of life due to a medical error.
“Freezer failures that lead to the loss of valuable research and assets are preventable and the industry should not stand for the status quo of waiting until a failure occurs to fix a problem – because that is often too late,” said Rick Kriss, CEO of KLATU. “The recent lawsuit that resulted in a jury awarding $15 million to five litigants whose embryos were lost when a cryogenic storage tank failed in 2018 is an example of a preventable situation that resulted in substantial loss. This is just the first of likely many legal actions, as attorneys for the plaintiffs have since filed a motion to consolidate similar lawsuits seeking class-action status. Given the avoidable circumstances surrounding these failures, plaintiff lawyers’ may be gearing up for a new billion-dollar industry targeting cold-chain and cold-storage related lawsuits making the time ripe for life science companies to put new predictive failure monitoring solutions into place.”
Eight of the U.S.’s top 10—and 15 of the top 25—largest biopharma companies rely on TRAXX software to predict failures, reduce energy costs and make objective repair, retirement and replacement decisions before expensive repairs and product losses occur. Protected by four patents and taking KLATU seven years to develop, TRAXX leverages proprietary algorithms –to produce a TRAXX/Score™– a scoring technique that compares the performance of equipment against a digital model of its peers. The models are created from the analysis of 20 billion records from thousands of assets and hundreds of customers from dozens of equipment manufacturers, over the last 10 years.
Not only can life science companies gain confidence that their valuable assets are protected, but new features in TRAXX are aligning with corporate and academic energy and sustainability initiatives. Typically, each freezer consumes the equivalent energy of a whole house and research laboratories consume up to 10 times more energy per square meter compared to commercial office buildings. Therefore, KLATU Networks data can help laboratories identify when equipment is operating inefficiently to help reduce plug-loads.
Originally posted on Businesswire