Diaceutics PLC USD 10.1 million multi-year enterprise engagement (5697B)
June 05 2023 - 2:00AM
UK Regulatory
TIDMDXRX
RNS Number : 5697B
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 Via Alma PR
Nick Roberts, Chief Financial Officer
Stifel Nicolaus Europe Limited (Nomad & Broker) Tel: +44 (0)20 7710
7600
Ben Maddison
Nick Harland
Nick Adams
Kate Hanshaw
Alma PR Tel: +44(0)20 3405
0205
Caroline Forde diaceutics@almapr.co.uk
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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