Last checked at 16 May 2024 07:00
Diaceutics Announces Two New Enterprise-Wide Engagements
Total number of enterprise-wide engagements now six
Belfast and London, 16 May 2024 - Diaceutics PLC (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 Nick Roberts, Chief Financial Officer | Tel: +44 (0)28 9040 6500 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 Kinvara Verdon Kieran Breheny | diaceutics@almastrategic.com |
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 ®.