19th Aug 2024 11:44
(Alliance News) - Diaceutics PLC on Monday announced the launch of PMx services alongside a new promotional partnership with a US biotech firm.
The Belfast-based technology and solutions provider to the pharmaceutical and biotech industry has launched PMx, a suite of data-driven services built for the promotion and commercialisation of precision medicine.
PMx services are designed to ensure patients are identified, based on their unique genomic profile, and offered the optimal treatment for their condition.
Diaceutics also reached an agreement with "a leading biotech" to become its primary promotional partner for the launch of an oncology precision medicine in the US using PMx.
The partnership makes use of a fee structure that will see Diaceutics receive a success fee per patient prescription to unlock new revenue streams.
"This agreement is to deploy PMx through to the end of 2025 and is worth at least GBP2.4 million in service revenue to Diaceutics, with additional milestone fees estimated to be worth another GBP1.9 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," Diaceutics said.
Diaceutics shares were up 5.9% to 131.30 pence each in London on late Monday morning.
By Elijah Dale, Alliance News reporter
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