Business
Diagnostic network for precision medicine update
Diagnostic network for precision medicine update.
About this update from Diaceutics Plc
[{"type":"text","content":"\n \n \n RNS Number : 1223N\n Diaceutics PLC\n 18 May 2020\n \n \n \n Diaceutics PLC\n (\"Diaceutics\" or the \"Company\")\n \n Update on Diagnostic Network for Precision Medicine\n \n - Diaceutics names its Nexus platform 'DXRX - The Diagnostic Network™'\n - It will be launched in Q4 2020\n - DXRX puts 2500+ laboratories at the centre of a precision medicine network\n - DXRX is world's first diagnostic network enabling industry-wide collaboration needed for precision medicines to fulfil their promise\n - DXRX will unlock the power of the world's largest real-world testing data repository for network of industry partnerships\n - Company has built alliances with industry leading service providers enabling end-to-end solution for precision medicine's diagnostic needs\n Diaceutics PLC (AIM: DXRX), announces DXRX as the new name for Nexus, which will enable Diaceutics to scale its business to meet fast growing demand in the precision medicine market. It represents the culmination of a £23 million investment by Diaceutics in software and data. Onboarding of laboratory and diagnostic partners to DXRX will commence in Q3 2020, with pharmaceutical clients gaining access in Q4. \n \n \n \n \n DXRX will significantly enhance Diaceutics' service offering and enable it to meet the increased market demand being created by 1,0002 new precision medicines currently in pharmaceutical company pipelines. It will enable Diaceutics to meet the need for a global standardised diagnostic process by offering an end-to-end solution for the development and commercialisation of precision medicine diagnostic testing.\n \n \n \n \n \n As a platform, it is intended to do more than just provide access to the rich testing data owned by Diaceutics as it will also seek to address the stakeholder collaboration problems which have led to a suboptimal testing ecosystem and has resulted in most precision medicines reaching only 50% of eligible patients in oncology1. \n \n Diaceutics has spent the last ten years building relationships with more than 2500 laboratories worldwide. DXRX enables these laboratories to be integrated into a network providing a global flow of testing data, thus placing those labs at the centre of precision medicine.\n \n The development of an effective pre...