Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n°159

Diagnostics Data Analytics Company Diaceutics to List on London Stock Exchange

Posted by fidest press agency su venerdì, 22 marzo 2019

Diaceutics plc, a revenue-generating and profitable diagnostics data analytics and implementation services company which services the global pharmaceutical industry, today announces that it is seeking a listing on the AIM Market of the London Stock Exchange. The company is expected to have a market capitalization on admission of approximately £53M.
Diaceutics has conditionally raised £17M by way of a Placing of 22,368,427 Ordinary Shares of 76p each through its nominated adviser and broker, Cenkos Securities plc. It is expected that Admission will become effective at 8am on or around 21st March 2019 and shares will trade under the AIM symbol ‘DXRX’.Diaceutics was founded in 2005 by Peter Keeling and operates in the global diagnostics commercialization market. With offices in Belfast, UK; Dundalk, Ireland; Parsippany, New Jersey; and Singapore, the organization’s services result in more effective pairing of patients with specific treatments, which in turn leads to better patient healthcare outcomes. In 2018, the Group had an average of 65 full-time employees in 17 countries. The Group has achieved compound annual revenue growth in sales of over 50% in the past two years.Last year, 42% of all FDA drug approvals were for precision medicine therapies, representing 25 approvals in total. Precision medicine drugs are tailored to patients expressing specific molecular or genetic biomarkers, which are identified with a diagnostic test. Ineffective testing, accompanied by persistent challenges throughout the current diagnostic testing market, can therefore significantly reduce access to new, more effective drugs.To address this, Diaceutics has amassed a set of data from more than 2,500 laboratories including 3.5M longitudinal patient records, insurance claims data for 50M patients and 58M testing event data points from 35 countries. As part of this data collection, it has accumulated a global proprietary database of individual laboratories’ capabilities across the industry.Using its expertise and its data set, the Group is able to assist pharmaceutical clients improve the development, and delivery, of diagnostic testing. This is manifested through faster testing, better turnaround times, quicker positive identification and higher number of patients treated.

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