Business
USD 10.1 million multi-year enterprise engagement
USD 10.1 million multi-year enterprise engagement.
About this update from Diaceutics Plc
[{"type":"text","content":"\n\n05 June 2023\nDiaceutics PLC\n(\"Diaceutics\" or \"the Company\" or \"the Group\")\n \nUS$10.1 million multi-year enterprise engagement with top 10 global pharma company\n \nDiaceutics PLC (AIM: DXRX), a leading technology and solutions provider to the pharmaceutical industry, is pleased to announce that it has been awarded a three-year enterprise contract with a top 10 global pharmaceutical company based in the USA. The contract will initially deliver US$10.1 million of revenue over a three-year period. Within the contract there are additional options which, if exercised, would significantly increase the scope and value over the contracted period. Revenue is expected to be recognised on a monthly basis, spread broadly evenly over the course of the contract, commencing immediately. This enterprise contract, alongside those announced in January 2023, evidences the value placed in Diaceutics as a leading tech-to-pharma strategic partner.\n \nThe three-year enterprise contract will see Diaceutics deliver a wide range of subscription data services via its DXRX platform, including: Physician Signal, Lab Segmentation, Physician Segmentation and Testing Rate Tracker. These services will accelerate commercialisation of the customer's therapeutic treatments, covering multiple indications and oncology disease areas, increasing eligible patient uptake and enhancing the organisations' return on R&D investment.\n \nThis enterprise contract highlights the scale of the opportunity available to the Group as it continues to rapidly expand in the growing precision medicine market. Diaceutics continues to successfully execute against its accelerated investment strategy, which has seen the Company expand its platform technology, product offerings, lab network and customer service. This serves to consolidate the position of Diaceutics as a trusted strategic partner for all life science companies developing new therapeutic products.\n \nRyan Keeling, Chief Innovation Officer of Diaceutics, said:\n\"This multi-year enterprise-level engagement serves to validate our strategy of acceleration as the investments made in our platform technology, data and products enable us to fully capitalise on the growing market opportunity. This is a significant step forward towards our core mission of getting every eligible patient the ...