LONDON: Diaceutics PLC (AIM: DXRX), the diagnostic commercialisation company, has secured a three year data subscription contract with a top five global life sciences company worth in excess of $2.5m, to be recognised over the course of the contract, a statement said.
This is the Company’s largest data subscription contract to date, adding to the Group’s growing levels of recurring revenues.
Under the contract, Diaceutics will deliver real-world data and insights on the demand for biomarkers across a number of diseases and therapy brands. This information will help the customer to identify trends and gaps in the adoption of biomarkers, to support the commercialisation of new and existing diagnostics for Precision Medicines.
The contract further demonstrates the demand from leading life science companies for real-world data and insights to support sales and marketing initiatives and is an endorsement of the quality of the insights that the DXRX platform can provide.
The data will be supplied via DXRX, the world’s first platform to support the commercialisation of Precision Medicine. DXRX uses machine learning to integrate and analyse real-world, real time diagnostic testing data from a global network of laboratories to identify current gaps within the diagnostic landscape.
Diaceutics then provides services over the platform to enhance the level of testing at the front line, quickly.
Peter Keeling, CEO and Founder of Diaceutics PLC, commented: “The adoption of Precision Medicine continues apace and those Pharma companies leading the way are embedding real world testing data in their planning to identify where the patients who could benefit from better testing and better treatment are currently being missed.
“Through DXRX, we can not only provide the insights but also the solution – using our platform network to directly improve testing at the front line, maximising the revenue opportunity for Pharma.
“This significant contract adds to a strong start to the year and demonstrates the ability of the DXRX platform to improve the quality and long-term visibility of the revenues of the business.”