Diaceutics Announces Two New
Enterprise-Wide Engagements
Total number of
enterprise-wide engagements now six
Belfast and London, 16 May 2024 - Diaceutics PLC
(AIM: DXRX), a leading
technology and solutions provider to the pharma and biotech
industry, is pleased to announce that it has
increased the number of enterprise-wide engagements it has with top
20 global pharma customers from four to six engagements, across 29
separate therapeutic brands. These enterprise-wide engagements
demonstrate the successful execution of Diaceutics' strategy to
offer more products & services to existing
customers.
An enterprise-wide engagement is
characterised by a customer deploying the DXRX solutions across
three or more of the precision medicines in its portfolio, or a
customer deploying the DXRX solutions as the primary
commercialisation tool for a precision medicine.
Enterprise-wide engagements
currently represent Annual Recurring Revenue (ARR) of £9.0 million,
£2.5 million of which relates to the two additional engagements
announced today. Enterprise-wide engagements represent a
significant proportion of group ARR, which further demonstrates
their growing importance in driving Diaceutics' future growth and
embeddedness with its customer base. Diaceutics will continue
to measure the ongoing value of enterprise-wide engagements in
terms of ARR. All enterprise-wide engagements are with top 20
pharma customers and are on autorenewal contract terms with contact
lengths between 12 and 36 months.
In addition to the two new
engagements announced today, Diaceutics' largest existing
enterprise-wide customer recently extended the term of its
enterprise-wide engagement through the end of 2026.
Ryan Keeling, Chief Executive Officer of Diaceutics,
commented: "The strength of our growing
pipeline of new enterprise-level contracts highlights the progress
we are making in becoming the primary commercialisation partner for
pharma and biotech companies launching new precision medicines,
validating the accelerated investment in our platform technology.
These new engagements represent a significant step forward towards
our core mission of getting every eligible patient the right test
and the right therapy to positively impact their disease
outcome."
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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Ryan Keeling, Chief Executive
Officer
Nick Roberts, Chief Financial
Officer
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Tel: +44 (0)28 9040 6500
investorrelations@diaceutics.com
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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
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Kate Hanshaw
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Alma Strategic
Communications
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Tel: +44(0)20 3405 0205
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Caroline Forde
Kinvara Verdon
Kieran Breheny
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diaceutics@almastrategic.com
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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 commercialisation
solution for precision medicines through data analytics, scientific
and advisory services enabled by our platform DXRX - The
Diagnostics Network ®.
