Diaceutics PLC (AIM: DXRX), the diagnostic commercialisation company, is pleased to announce that it has secured a five year subscription contract with a top five global life sciences company, a global leader in diagnostics, to deliver customised data insights via the DXRX platform. The total contract value is in excess of $1m spread across five years and subject to milestones in year 1 and year 3. This contract demonstrates the demand for customised real-world data to support sales and marketing initiatives for leading life science companies, the applicability of the Company’s offering to businesses outside of its core pharma customer base, and supports the move towards enhanced subscription-based revenues, a key strategy for the Company going forward.
The contract will see Diaceutics deliver real-world data and insights on the demand for biomarkers customised to the client’s needs across a number of diseases. This information will help the customer to identify important biomarker adoption trends and gaps which can support the commercialisation of new and existing diagnostics. The data will be supplied from DXRX, the world’s first diagnostic commercialisation platform for Precision Medicine, which uses machine learning to integrate output of real-world, real time diagnostic testing data from a global network of laboratories.
Peter Keeling, CEO and Founder of Diaceutics PLC, commented: “This multi-year deal demonstrates the confidence which one of the acknowledged global leaders in diagnostics has in the quality of our Deductive Diagnostic Pathways, and the strength of the DXRX platform. “This agreement represents another step towards our recurring, high margin and scalable multi-year subscription revenue targets and reinforces our belief in the opportunity for the DXRX platform, to serve multiple stakeholders across healthcare industry unlock the promise of Precision Medicine.”
Diaceutics PLC Philip White, Chief Financial Officer Via Alma PR
Stifel Nicolaus Europe Limited (Nomad & Broker) Tel: +44 (0)20 7710 7600 Ben Maddison, Stewart Wallace, Nick Adams
Alma PR Tel: +44(0)20 3405 0205 Caroline Forde, Kieran Breheny, Matthew Young [email protected]