REG - Diaceutics PLC - PMx Promotional Partner Contract Enhancement

DiaceuticsAnnouncement

26/03/2025 07:00

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RNS Number : 1187C  Diaceutics PLC  26 March 2025

Diaceutics PMx Promotional Partner Contract Enhancement

 

Transition to new PMx customer and enhanced commercial terms agreed post the
license of US rights to BIZENGRI(®) (zenocutuzumab - zbco) to Partner
Therapeutics Inc.

 

Extended multi-year PMx promotional partnership to be worth up to £11.5m

 

New York, Belfast and London, 26 March 2025 - Diaceutics PLC
(https://www.diaceutics.com/) (AIM: DXRX), a leading technology and solutions
provider to the pharma and biotech industry, today announces that it has
agreed contractual terms with Partner Therapeutics, Inc. (Partner
Therapeutics), the new US license holder for the oncology precision medicine
BIZENGRI® (zenocutuzumab - zbco). Partner Therapeutics will continue to
deploy the PMx commercialisation solutions previously contracted with the
previous US license holder. The Partner Therapeutics PMx contract supersedes
the contract previously announced on 19 August 2024.

 

Ryan Keeling, Diaceutics' Chief Executive Officer, commented: "We are very
excited to be working with Partner Therapeutics as they commercialise this
novel and important therapy for patients with unmet needs.  Our platform will
enable Partner Therapeutics to identify and ensure patients get the
opportunity to be treated with the optimal oncology therapy as fast as
possible. The team at Partner Therapeutics recognises the need for an
innovative commercial model and the potential for our PMx solution to deliver
significant value as they bring BIZENGRI(®) to market."

 

PMx is a commercialisation service designed to combine all of Diaceutics'
unique solutions to ensure patients are identified, based on their unique
genomic profile, and offered the optimal treatment for their condition as fast
as possible. With Diaceutics' best in class daily Signal product at its core,
Diaceutics will provide all of the DXRX platform services including patient
identification, patient recruitment, diagnostic test adoption &
optimisation and physician engagement & education.

 

PMx represents a novel commercialisation solution which allows pharma and
biotech companies to launch precision medicines in a more lean and agile way,
whilst accelerating the adoption curve and maximising patients on therapy - an
approach that Diaceutics believes is revolutionary for the precision medicine
market.

 

Terms of the Agreement

Under the terms of the agreement with Partner Therapeutics, Diaceutics will
leverage its DXRX platform, specifically its best-in-class genomic lab data,
lab network, omni-channel marketing, digital and peer to peer physician
education to enable the commercialisation of BIZENGRI(®).

 

This agreement follows on from the original BIZENGRI(®  )PMx contract
announced 19 August 2024, superseding it from 01 April 2025, and follows the
sale of the US rights of BIZENGRI(®) to Partner Therapeutics.

 

Diaceutics will initially deploy its commercialisation solutions through to 30
September 2026, which is expected to be worth up to £4.5 million in
recurring service revenues over that timeframe. The contract includes annual
autorenewal terms, which if exercised at the end of September 2026, would see
the contract extended through to September 2028, which would deliver an
additional £7.0 million in recurring service revenue over that timeframe.

 

The Partner Therapeutics contract consists entirely of recurring service fee
revenue. The contingent milestone fees which were originally negotiated as
part of the previous contract, have been replaced in favour of guaranteed
recurring service fees.

 

£1.5 million of service fee revenue from the original PMx contract has
already been recognised in the first 10 months of the contract through to 01
April 2025.

 

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®.

About Partner Therapeutics

Partner Therapeutics is an integrated biotechnology company, focuses on
development and commercialisation of therapeutics to improve health outcomes
in cancer and other serious diseases. The company believes in delivering
products and supporting medical teams with the purpose of achieving superior
outcomes for patients and their families.  For additional information, please
visit the PTx website (https://www.partnertx.com/) .

 

Please see BIZENGRI(®) Important Safety Information and the complete
Prescribing Information, including Boxed Warning, at www.bizengri.com
(http://www.bizengri.com) .

 

Prior to publication the information communicated in this announcement was
deemed by the Company to constitute inside information for the purposes of
article 7 of the Market Abuse Regulations (EU) No 596/2014 as amended by
regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations No
2019/310 ('MAR'). With the publication of this announcement, this information
is now considered to be in the public domain.  The person responsible for
making this announcement on behalf of the Company is Nick Roberts, Chief
Financial Officer.

 

 

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