Diaceutics PLC (AIM: DXRX), the diagnostic commercialisation company, is pleased to announce that it has secured a contract with a global pharmaceutical company for the provision of technology enabled services, to be delivered via its DXRX platform. The contract value is in excess of $900,000, with the majority of revenue to be recognised in the current financial year, supporting the Company’s growth targets and current year forecasts.
Diaceutics will collaborate with the client to support the launch of a diagnostic test alongside a new oncology drug. Both the diagnostic test and drug are new to the market and as such the diagnostic test will require adoption by laboratories globally in order for the drug to be prescribed by physicians. This initial contract will involve creating a Quality Assurance standard across 30 laboratories in ten countries to ensure that results and interpretation are consistent wherever the test is undertaken.
Peter Keeling, CEO and Founder of Diaceutics PLC, commented:
We are very pleased to be supporting the commercialisation of this new oncology drug for our client. This drug has the potential to help many cancer patients when on the market and the work done now will mean more patients having access to this drug, earlier. Through the use of the DXRX platform, we anticipate the study to be completed swiftly, utilising our growing online lab network.
Philip White, Chief Financial Officer
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