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