Business
Investment in data lake
Investment in data lake.
About this update from Diaceutics Plc
[{"type":"text","content":"\n \nRNS Number : 3777C Diaceutics PLC 17 June 2019 \n\n \nDiaceutics PLC\n(\"Diaceutics\" or the \"Company\")\n \nInvestment in data lake\nDiaceutics invests additional £1 million in patient data to improve outcomes\n \n- Acquisition of 16 million additional patient records per annum\n- Creation of new partnerships with laboratories and payers across US, Asia and Europe to enhance industry-leading data lake\n- Investment enables greater automation, disease insight and geographic concentration of data to help pharmaceutical companies target patients better\n- In-line with IPO commitment to invest £5.5 million on data acquisition and AI analysis\n \nBelfast, 17 June 2019 - Diaceutics PLC, the diagnostics data analytics and implementation services company, announces that it has invested £1 million in the expansion and enhancement of its global data lake through the acquisition of 16 million additional patient records per annum.\n \nUtilising Diaceutics' proprietary software, this anonymised patient data is being acquired through new partnerships with a number of key commercial reference laboratories, academic institutions, payers and data providers from the US, Asia, UK and Europe. \n \nThe investment enables regular data transfers from laboratory partners in multiple markets that will ultimately improve Diaceutics' service to its Pharma clients, through a greater ability to track real-time changes to patient testing at the disease level. This investment also broadens Diaceutics' geographic scope and provides new insight into these testing markets.\n \nPrecision medicine drugs are tailored to patients expressing specific molecular or genetic biomarkers, which are identified with a diagnostic test. Diaceutics' expansive data lake pinpoints information such as where these tests are taking place, which physician or consultant has ordered them, the frequency and turnaround times of those tests and how accurate the results are. Leveraging sophisticated data analytics capabilities, Diaceutics transforms this granular, data-rich information into real world insights to help pharmaceutical companies increase the uptake of their precision medicine drugs and therefore improve p...