USD 10.1 million multi-year enterprise engagement

Diaceutics PLC

05 June 2023

 

05 June 2023

Diaceutics PLC

("Diaceutics" or "the Company" or "the Group")

US$10.1 million multi-year enterprise engagement with top 10 global pharma company

Diaceutics PLC (AIM: DXRX), a leading technology and solutions provider to the pharmaceutical industry, is pleased to announce that it has been awarded a three-year enterprise contract with a top 10 global pharmaceutical company based in the USA. The contract will initially deliver US$10.1 million of revenue over a three-year period. Within the contract there are additional options which, if exercised, would significantly increase the scope and value over the contracted period. Revenue is expected to be recognised on a monthly basis, spread broadly evenly over the course of the contract, commencing immediately. This enterprise contract, alongside those announced in January 2023, evidences the value placed in Diaceutics as a leading tech-to-pharma strategic partner.

The three-year enterprise contract will see Diaceutics deliver a wide range of subscription data services via its DXRX platform, including: Physician Signal, Lab Segmentation, Physician Segmentation and Testing Rate Tracker. These services will accelerate commercialisation of the customer's therapeutic treatments, covering multiple indications and oncology disease areas, increasing eligible patient uptake and enhancing the organisations' return on R&D investment.

This enterprise contract highlights the scale of the opportunity available to the Group as it continues to rapidly expand in the growing precision medicine market. Diaceutics continues to successfully execute against its accelerated investment strategy, which has seen the Company expand its platform technology, product offerings, lab network and customer service. This serves to consolidate the position of Diaceutics as a trusted strategic partner for all life science companies developing new therapeutic products.

Ryan Keeling, Chief Innovation Officer of Diaceutics, said:

"This multi-year enterprise-level engagement serves to validate our strategy of acceleration as the investments made in our platform technology, data and products enable us to fully capitalise on the growing market opportunity. This is a significant step forward towards our core mission of getting every eligible patient the right test and the right therapy to positively impact their disease outcome.

"The strength of our growing pipeline of new enterprise-level contracts highlights the progress made in becoming the primary commercialisation partner for pharma or biotech companies launching a new precision medicine. Moreover, this contract shows that the data and expanded services we are now providing are seen as being of increasing value to their sales and marketing efforts. The additional opportunities that this creates for us is a very significant part of our accelerated growth strategy."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR. The person responsible for making this announcement on behalf of the Company is Nick Roberts, Chief Financial Officer.

Enquiries:

Diaceutics PLC
Peter Keeling, Chief Executive Officer Nick Roberts, Chief Financial Officer	Via Alma PR
Stifel Nicolaus Europe Limited (Nomad & Broker)	Tel: [phone]
Ben Maddison
Nick Harland
Nick Adams Kate Hanshaw
Alma PR	Tel: [phone]
Caroline Forde	[e-mail]
Kieran Breheny
Matthew Young Kinvara Verdon

About Diaceutics

At Diaceutics we believe that every patient should get the opportunity to receive the right test and the right therapy to positively impact their disease outcome. We provide the world's leading pharmaceutical and life science companies with solutions and technology for the commercialisation of their precision medicines, enabled by the proprietary DXRX platform.

DXRX is the world's first diagnostic commercialisation platform for precision medicine, utilising a global network of affiliate laboratories to deliver multiple pipelines of real-world healthcare data insights, advisory services and innovative platform enabled solutions.

 

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