REG - Diaceutics PLC - Diaceutics Wins New $5.1m Contract

DiaceuticsAnnouncement

17/12/2024 07:00

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RNS Number : 2855Q  Diaceutics PLC  17 December 2024

Diaceutics Wins New $5.1m Contract

 

Second largest contract win in Diaceutics' history

 

A global pharma customer has selected the DXRX platform to deliver laboratory
engagement services through Q4 2026

 

Belfast and London, 17 December 2024 - Diaceutics PLC
(https://www.diaceutics.com/) (AIM: DXRX), a leading technology and solutions
provider to the pharma and biotech industry, is pleased to announce that it
has secured a new contract with a global pharma customer which is expected to
be worth up to $5.1 million over 24 months (the "Customer"). The scientific
services provided during the contract term will facilitate a global outreach
and education program for the Customer via the DXRX platform.

 

Diaceutics believes there are currently limited solutions in the market that
enable pharma companies to identify key global laboratories and engage
directly with them on complex studies at scale. This contract will see
Diaceutics leverage its laboratory network and DXRX platform to engage 50
pathology laboratories across the US and other major pharma markets to support
the Customer's recently approved oncology therapy.

 

Diaceutics will utilise the DXRX platform to engage laboratories in order to
educate them on the appropriate use of HER2 testing in cancer types that have
not previously required HER2 testing, and in doing so, optimise patient
identification for these cancer types.

 

Contract & Terms

This new contract represents Diaceutics' second largest contract ever and
demonstrates the value and utility the DXRX platform and laboratory network
deliver to Diaceutics' pharma customers. This contract extends to Q4 2026, and
it's expected to be worth up to $5.1 million in revenue over this initial
term. Approximately 10% of the revenue associated with the contract will be
recognised in 2024 with the balance flowing through to the 2025/26 order book.
There is an expectation that the contract may extend beyond 2026 should the
initial term be successful.

 

Ryan Keeling, Chief Executive Officer of Diaceutics, commented: "This is a
very significant contract win for Diaceutics and demonstrates that our
strategy to increase average spend per brand is succeeding. More importantly,
this engagement has the potential to deliver a meaningful impact to patient
lives and clinical outcomes with Diaceutics working closely with our customer
to bring this new therapy option to patients in need".

 

 Enquiries:

 Diaceutics PLC
 Ryan Keeling, Chief Executive Officer              Tel: +44 (0)28 9040 6500

 Nick Roberts, Chief Financial Officer              investorrelations@diaceutics.com (mailto:investorrelations@diaceutics.com)

 Canaccord Genuity Limited (Nomad & Broker)         Tel: +44 (0)20 7523 8000
 Simon Bridges, Andrew Potts, Harry Rees

 

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 pharma and biotech companies
with an end-to-end commercialisation solution for precision medicines through
data analytics, scientific and advisory services enabled by our platform DXRX
- The Diagnostics Network®.

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.

 

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