REG - Diaceutics PLC - Two New Enterprise-Wide Engagements

DiaceuticsAnnouncement

16/05/2024 07:00

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RNS Number : 6322O  Diaceutics PLC  16 May 2024

Diaceutics Announces Two New Enterprise-Wide Engagements

 

Total number of enterprise-wide engagements now six

 

Belfast and London, 16 May 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 increased the number of
enterprise-wide engagements it has with top 20 global pharma customers from
four to six engagements, across 29 separate therapeutic brands. These
enterprise-wide engagements demonstrate the successful execution of
Diaceutics' strategy to offer more products & services to existing
customers.

 

An enterprise-wide engagement is characterised by a customer deploying the
DXRX solutions across three or more of the precision medicines in its
portfolio, or a customer deploying the DXRX solutions as the primary
commercialisation tool for a precision medicine.

 

Enterprise-wide engagements currently represent Annual Recurring Revenue (ARR)
of £9.0 million, £2.5 million of which relates to the two additional
engagements announced today. Enterprise-wide engagements represent a
significant proportion of group ARR, which further demonstrates their growing
importance in driving Diaceutics' future growth and embeddedness with its
customer base.  Diaceutics will continue to measure the ongoing value of
enterprise-wide engagements in terms of ARR. All enterprise-wide engagements
are with top 20 pharma customers and are on autorenewal contract terms with
contact lengths between 12 and 36 months.

 

In addition to the two new engagements announced today, Diaceutics' largest
existing enterprise-wide customer recently extended the term of its
enterprise-wide engagement through the end of 2026.

Ryan Keeling, Chief Executive Officer of Diaceutics, commented: "The strength
of our growing pipeline of new enterprise-level contracts highlights the
progress we are making in becoming the primary commercialisation partner for
pharma and biotech companies launching new precision medicines, validating the
accelerated investment in our platform technology. These new engagements
represent 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."

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

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

 Stifel Nicolaus Europe Limited (Nomad & Broker)        Tel: +44 (0)20 7710 7600
 Ben Maddison
 Nick Harland
 Kate Hanshaw

 Alma Strategic Communications                          Tel: +44(0)20 3405 0205
 Caroline Forde                                         diaceutics@almastrategic.com

 Kinvara Verdon

 Kieran Breheny

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 ®.

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