REG - Diaceutics PLC - Enterprise Partnership and Launch of PMx

DiaceuticsAnnouncement

19/08/2024 07:00

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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
(https://www.diaceutics.com/) (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                  investorrelations@diaceutics.com

 Nick Roberts, Chief Financial Officer

 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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