Diaceutics is a data analytics and implementation services company which services the global pharmaceutical industry. It has established a suite of data-driven products and implementation services powered by the data held in its proprietary database. Its products and services are focused on optimising its clients’ strategies for the development and launch of precision medicines and specifically, the diagnostic testing required to guide selection of such medicines. The Group currently provides services to 20 of the 30 largest global pharmaceutical companies.
Precision medicines (or therapies) are a class of drug tailored to individual patient groups dependent on molecular or genetic factors of the individual. Today, they are used for treatment in oncology as well as other disease areas such as multiple sclerosis and rheumatoid arthritis. The increasing use of precision medicines results from the fact that some drugs have demonstrated significant positive clinical results in some patients but have been shown to be less effective or less safe across the entire patient population.
Growth in the precision medicine market is evident, with major pharma companies such as AstraZeneca confirming that approximately 90 per cent of their clinical development pipeline is currently driven by precision therapeutics. This growth is being led by technological advances in genetics and improved understanding in molecular diagnostic techniques, enabling better prospects of the successful development of precision therapeutics. Leading pharma companies working in precision medicine include Novartis, Roche/Genentech, AstraZeneca, Pfizer, BMS, Merck and Amgen.
Given the specific nature of precision therapeutics, the successful roll-out of these medicines by a pharmaceutical company is increasingly reliant on having effective and widespread testing available for doctors and patients from launch.
Noting the increasing importance of these market changes, since its inception in 2005, Diaceutics has focused on the diagnostic testing market, collating large amounts of laboratory, patient (on an anonymised and aggregated basis), claims and payor data which it uses to deliver diagnostic testing strategies to its clients. The Group has amassed a set of data from over 2,500 laboratories including 3.5 million longitudinal patient records, insurance claims data for 50 million patients and 58 million testing event data points from 35 countries. As part of this data collection, it has accumulated a proprietary database of laboratory capabilities across the industry.
Diaceutics’ products and services are predominantly focussed on precision testing, being tests carried out in laboratories which are used alongside a precision medicine to identify which patients will benefit most from that drug. From the pharmaceutical company’s perspective, the Directors have identified that it is essential that from launch, it has optimised the practical process for testing of potential patients by labs to ensure the highest levels of drug sales from the outset. Failure to have effective testing can significantly reduce the adoption of the relevant drug. Despite the increasing importance of effective diagnostic testing, the testing market itself is currently highly fragmented and the pharmaceutical industry has varied insight into it. The Directors believe that the addressable market for their specific services today is approximately US$0.5 billion. With expected market growth in the number of test-dependent therapies alongside increased investment by pharma to remove testing hurdles to seamless treatment, Diaceutics forecast the overall market will increase to US$2.5 billion by 2023.
The Group’s services are split into the following four discrete, sequential modules:
- Landscape – initial views on the testing environment for pharmaceutical companies that often have little insight into the actual data required to make decisions in advance of a launch.
- Planning – advising on steps to ensure rapid and effective test adoption, including advice on how tests should be developed, who they should be developed with and how should they be optimally communicated to physicians and patients.
- Implementation – identifying and solving issues with leading laboratories relating to the adoption and efficacy of testing.
- Tracking – ongoing post launch analysis to understand how testing is promoting or restricting access to precision therapy.
The Directors believe that these services benefit pharma clients with improved return on investment, reduced time to peak market penetration and greater revenue potential in relation to their precision therapeutic development programmes. The Group’s products also improve testing outcomes for patients, enabling better access to the right drug at the right time. During 2018, the Group, which is headquartered in Belfast, Northern Ireland, had an average of 65 full time employees in 17 different countries. The Group has achieved compound annual revenue growth in sales of over 50 percent in the past two years.