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Diaceutics wins data deal with unnamed pharma firm

Thu 01 April 2021 16:05 | A A A

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(Sharecast News) - Diaceutics has secured a data licensing agreement with an unnamed global pharmaceutical company to provide Covid-19 testing data insights in the US, it announced on Thursday, enabled by its proprietary diagnostic network 'DXRX'.

The AIM-traded company said that with around 400 treatments for the coronavirus now in development, the contract win- which came as a result of insights made available by its recent algorithmic development of a Covid-19 diagnostic disease pathway (DDP) - showed the group was in a position to address the "imminent opportunity" presented by the Covid-19 treatment market.

It said the details of the contract, including the identity of the pharmaceutical company and the value, were confidential, and no further information could be disclosed.

The board did say that the contract value did not change management expectations of performance for the current financial year.

"We are delighted to be able to facilitate access to this valuable Covid-tested patient cohort," said chief executive officer Peter Keeling.

"This first Covid-19 data-licensing agreement for the company provides testing data insights and analytics to pharmaceutical companies actively developing treatments for the disease.

"With hundreds of Covid-19 treatments now in development to address a pandemic at global scale, it is critically important that pharmaceutical companies lean in towards digital testing solutions such as those enabled by DXRX, to ensure that they have the data insights, and testing infrastructure required to get patients tested and treated."

At 1503 BST, shares in Diaceutics were up 1.57% at 103.6p.

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