Contract Win

RNS Number : 5055V

Diaceutics PLC

14 December 2021

 

14 December 2021

Diaceutics PLC

("Diaceutics" or "the Company")

Contract win

US$1m contract with leading life sciences company for data feed from the DXRX platform

Diaceutics PLC (AIM: DXRX), the diagnostic commercialisation company, is pleased to announce that it has secured a five year subscription contract with a top five global life sciences company, a global leader in diagnostics, to deliver customised data insights via the DXRX platform. The total contract value is in excess of $1m spread across five years and subject to milestones in year 1 and year 3. This contract demonstrates the demand for customised real-world data to support sales and marketing initiatives for leading life science companies, the applicability of the Company's offering to businesses outside of its core pharma customer base, and supports the move towards enhanced subscription-based revenues, a key strategy for the Company going forward.

The contract will see Diaceutics deliver real-world data and insights on the demand for biomarkers customised to the client's needs across a number of diseases. This information will help the customer to identify important biomarker adoption trends and gaps which can support the commercialisation of new and existing diagnostics.

The data will be supplied from DXRX, the world's first diagnostic commercialisation platform for Precision Medicine, which uses machine learning to integrate output of real-world, real time diagnostic testing data from a global network of laboratories.

Peter Keeling, CEO and Founder of Diaceutics PLC, commented:

"This multi-year deal demonstrates the confidence which one of the acknowledged global leaders in diagnostics has in the quality of our Deductive Diagnostic Pathways, and the strength of the DXRX platform.

"This agreement represents another step towards our recurring, high margin and scalable multi-year subscription revenue targets and reinforces our belief in the opportunity for the DXRX platform, to serve multiple stakeholders across healthcare industry unlock the promise of Precision Medicine."

Enquiries:

Diaceutics PLC
Philip White, Chief Financial Officer	Via Alma PR
Stifel Nicolaus Europe Limited (Nomad & Broker)	Tel: [phone]
Ben Maddison, Stewart Wallace, Nick Adams
Alma PR	Tel: [phone]
Caroline Forde, Kieran Breheny, Matthew Young	[e-mail]

About Diaceutics

At Diaceutics we believe that every patient should have access to the right treatment at the right time. We provide the world's leading pharmaceutical companies with an end-to-end solution for the launch of precision medicine diagnostics enabled by DXRX - The Diagnostic Network®. 

DXRX is the world's first diagnostic commercialisation platform for precision medicine, integrating multiple pipelines of real-world diagnostic testing data from a global network of laboratories.

Diaceutics' proprietary Deductive Diagnostic Pathways (DDPs) translate millions of complex data points into valuable actionable insights enabling pharmaceutical customers to understand the testing journey for patients across multiple disease types and identify real world data trends.

 

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