DIACEUTICS PLC

Business and Financial Review • Aug 19, 2024

National Storage Mechanism | Additional information

RNS Number : 8461A

Diaceutics PLC

19 August 2024

Groundbreaking Enterprise Promotional Partnership and Launch of PMx

Diaceutics will be the promotional partner with a leading biotech company for the launch of a breakthrough oncology precision medicine in the US

Diaceutics will receive a success fee per patient prescription to a new and novel therapy

Promotional partnership worth up to £4.3 million over first 18 months

Belfast and London, 19 August 2024 - Diaceutics PLC (AIM: DXRX), a leading technology and solutions provider to the pharma and biotech industry, is pleased to announce it has launched PMx, a suite of data-driven services built for the promotion and commercialisation of precision medicines and that it has reached agreement with a leading biotech to become its primary promotional partner for the launch of a breakthrough oncology precision medicine in the US using PMx. 

This partnership represents Diaceutics' seventh enterprise-wide engagement, and the first PMx primary promotional partnership deal whereby Diaceutics' fee structure is aligned with patient recruitment onto therapy. PMx unlocks new revenue streams for Diaceutics and shows the path to considerable increase in revenue per brand.

Terms of the Agreement

Under the terms of the agreement, Diaceutics will leverage its DxRx platform, specifically its best-in-class genomic lab data, lab network, omni-channel, digital and peer to peer physician education to enable drug commercialisation. Diaceutics' partner will retain all rights to the license for the drug .

This agreement is to deploy PMx through to the end of 2025 and is worth at least £2.4 million in service revenue to Diaceutics, with additional milestone fees estimated to be worth another £1.9 million payable during that period based on successful patient recruitment onto therapy. There is an expectation that the agreement will extend beyond 2025 should the initial phase be successful.

Ryan Keeling, Chief Executive Officer of Diaceutics commented: "Today's announcement is a milestone for Diaceutics in three ways. Firstly, it's the start of a new era for Diaceutics, bringing together everything we have built in one solution, whilst providing a full promotional solution for this new partner and others in the future.  Secondly, the construct of a PMx contract is different, allowing us to retain a greater share of the value we provide and this will increase revenue per brand, an important growth KPI for us as we scale our business. Lastly, it brings us ever closer to our core purpose   of ensuring that patients in need get every opportunity to be treated with the optimal therapy as fast as possible".

PMx services are designed to ensure patients are identified, based on their unique genomic profile, and offered the optimal treatment for their condition. With Diaceutics' best in class daily Signal product at its core, Diaceutics will provide, through PMx, all of the DxRx platform services including patient identification, patient recruitment, diagnostic test adoption and optimisation, physician promotion, engagement and education.

PMx represents a novel commercialisation solution which allows pharma and biotech companies to launch precision medicines in a lean and agile way while still maximising patient recruitment to drug - an approach that Diaceutics believes is revolutionary for the precision medicine market.

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	Tel: +44 (0)28 9040 6500
Ryan Keeling, Chief Executive Officer  Nick Roberts, Chief Financial Officer	investorrelations@diaceutics.com
Stifel Nicolaus Europe Limited (Nomad & Broker)	Tel: +44 (0)20 7710 7600
Ben Maddison
Nick Harland  Ben Good
Alma Strategic Communications	Tel: +44 (0)20 3405 0205
Caroline Forde	diaceutics@almastrategic.com
Kinvara Verdon

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 commercialization solution for precision medicines through data analytics, scientific and advisory services enabled by our platform DXRX - The Diagnostics Network ®.

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