Diaceutics PLC, (AIM: DXRX), the diagnostics commercialisation company for precision testing, announces it has secured four projects with two leading pharmaceutical companies to solve real-world testing hurdles for the rare disease group: Inherited Retinal Disease (IRD). IRD has, until now, been a largely untreatable disease group causing severe vision loss or even blindness, affecting around two million people worldwide. The contracts demonstrate the applicability of the DXRX diagnostic commercialisation platform outside of the Company’s core area of oncology.
The services will be delivered over the course of six months in 2021 across Europe, the UK, APAC & the US. The projects are in partnership with existing pharmaceutical customers of the Company and represent an expansion of its commercial relationship into a new therapy area, in line with the Company’s ‘land and expand’ strategy, and the increased engagement of the customers with the DXRX platform. The contracts will deliver approximately £1.0 million revenue within 2021.
Peter Keeling, CEO and Founder of Diaceutics Diaceutics is excited to be involved with these ground-breaking therapies for IRD, giving us an opportunity to bring our extensive knowledge of personalized medicine in the oncology field to rare disease and to help patients with IRD access the best treatments available. These new project wins across a new disease area show the confidence that leading pharma companies have in Diaceutics and our considerable expansion opportunity. Through utilising the DXRX platform, alongside our advisory services, the projects can be delivered efficiently, at scale, across multiple geographies, bringing together all the segments in the precision medicine diagnostics market required to facilitate change and ensure patients get the right treatment at the right time.
Diaceutics is the first to market with a unique diagnostic commercialisation platform, DXRX, allowing stakeholders in the precision medicine market to collaborate and shape the diagnostics marketplace, in real time. Via the DXRX platform, the Group is providing both data analysis services to pharmaceutical customers, collected within the platform to highlight key opportunities and hurdles that need to be considered for testing launch, and subsequent implementation solutions, in which key testing laboratories will be engaged to ensure seamless and high-quality diagnostic testing is in place at the time of therapy launch.