Last checked at 1 Apr 2021 07:00
1 April 2021
Diaceutics PLC
("Diaceutics" or "the Company" or "the Group")
COVID-19 Testing Data licensing agreement
Contract to provide data insights with global pharmaceutical company
Diaceutics PLC, (AIM: DXRX), announces that it has secured a data licensing agreement with a global pharmaceutical company to provide COVID-19 testing data insights in the US enabled by DXRX - the Company's proprietary diagnostic network for precision medicine. With circa 400 COVID-19 treatments[1] now in development to address the global pandemic, this contract win, which is the result of insights made available by the Company's recent algorithmic development of a COVID-19 diagnostic disease pathway (DDP®)[2], highlights that the Group is in a position to address the imminent opportunity presented by the COVID-19 treatment market using its DXRX data solution capabilities.
The details of the contract, including the identity of the pharmaceutical company and the value, are confidential and no further information can be disclosed. The contract value does not change management's expectations of performance for the current financial year.
Diaceutics' DXRX platform provides unrivalled access to deep data insights and analysis from 49 Diagnostic Deductive Pathways®, enabling the Company to help pharmaceutical customers understand the testing journey for patients across multiple disease types and identify real word data trends around COVID-19 testing.
Commenting, Peter Keeling, Diaceutics' Chief Executive Officer said: "We are delighted to be able to facilitate access to this valuable COVID-tested patient cohort. This first COVID-19 data-licensing agreement for the Company provides testing data insights and analytics to pharmaceutical companies actively developing treatments for the disease. With hundreds of COVID-19 treatments now in development to address a pandemic at global scale, it is critically important that pharmaceutical companies lean in towards digital testing solutions such as those enabled by DXRX, to ensure that they have the data insights, and testing infrastructure required to get patients tested and treated."
Enquiries:
Diaceutics PLC |
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Philip White, Chief Financial Officer | Via Walbrook PR | ||
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Cenkos Securities plc (Nomad & Broker) | Tel: +44(0)20 7397 8900 | ||
Callum Davidson / Giles Balleny |
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Michael Johnson (Sales) |
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Walbrook PR | Tel: +44 (0)20 7933 8780 or diaceutics@walbrookpr.com | ||
Anna Dunphy | Tel: +44 (0)7876 741 001 | ||
Paul McManus | Tel: +44 (0)7980 541 893 | ||
About Diaceutics
At Diaceutics we believe that every patient should get the precision medicine they deserve. We are a data analytics and end-to-end services provider enabled by DXRX - our Proprietary Diagnostic Network solution for the development and commercialisation of precision medicine diagnostics. Diaceutics has worked on every precision medicine brought to market and provides solutions to 36 of the world's leading pharmaceutical companies. DXRX - The Diagnostic Network® provides unrivalled access to deep analysis and insights from the world's largest repository of diagnostic testing data on one secure platform.
About DXRX - The Diagnostic Network®
DXRX is Diaceutics' proprietary diagnostic network for precision medicine. DXRX is an end-to-end solution for the development and commercialisation of Precision Medicine diagnostics. The platform enables a vibrant marketplace where all stakeholders in Precision Medicine come to find trusted partners and collaborations in a secure, standardised way. DXRX provides access to a pipeline of global diagnostic testing data on one secure platform.
[1] https://www.bio.org/policy/human-health/vaccines-biodefense/coronavirus/pipeline-tracker
[2] Diaceutics has established many years of proprietary data which has been used to develop data algorithms informing the testing pathway, creating a deep disease-level understanding which the Company describes as a Diagnostic Deductive Pathway® (DDP)