Diaceutics PLC Expansion of US Commercial Activities

RNS Number : 9305N

Diaceutics PLC

28 November 2024

 

Diaceutics - Expansion of US Commercial Activities

 

Belfast and London, 28 November 2024 - Diaceutics PLC (AIM: DXRX), a leading technology and solutions provider to the pharma and biotech industry, is pleased to provide an update to the scaling of its US commercial activities strategy. A commercial data partnership agreement was executed in H1 2024, and a further four agreements were executed in H2 2024 to date, with a total contract value in the first year of £1.13 million ($1.48 million). The commercial data partnership contracts already underway are contributing to revenue in 2024 and Annual Recurring Revenue (ARR) growth.

 

Commercial data partnerships expand Diaceutics' US commercial reach through marketplaces and leverage partner sales teams in a co-selling model. The directors believe these contracts will further scale the company's commercial reach through the selling of high-margin data products, such as DXRX Signal, to a broader customer base, both in terms of new customer segments and pharmaceutical brands.   

 

Ryan Keeling, Chief Executive Officer of Diaceutics, commented: "We are really excited by these new agreements and the ability to offer our DXRX platform to a much wider audience and, in the process, grow and scale our market opportunity. We are pleased to see these partnerships contributing revenue and ARR ahead of plan in 2024".

 

Enquiries: 

 

Diaceutics PLC
Ryan Keeling, Chief Executive Officer   Nick Roberts, Chief Financial Officer	Tel: [phone] [e-mail]
Canaccord Genuity Limited (Nomad & Broker)	Tel: [phone]
Simon Bridges, Andrew Potts, Harry Rees

 

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

 

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