REG - Diaceutics PLC - USD 10.1 million multi-year enterprise engagement

DiaceuticsAnnouncement

05/06/2023 07:00

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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 (https://www.diaceutics.com/) (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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