Diaceutics PLC Investment in data lake (3777C)
17 June 2019 - 4:00PM
UK Regulatory
TIDMDXRX
RNS Number : 3777C
Diaceutics PLC
17 June 2019
Diaceutics PLC
("Diaceutics" or the "Company")
Investment in data lake
Diaceutics invests additional GBP1 million in patient data to
improve outcomes
- Acquisition of 16 million additional patient records per annum
- Creation of new partnerships with laboratories and payers
across US, Asia and Europe to enhance industry-leading data
lake
- Investment enables greater automation, disease insight and
geographic concentration of data to help pharmaceutical companies
target patients better
- In-line with IPO commitment to invest GBP5.5 million on data acquisition and AI analysis
Belfast, 17 June 2019 - Diaceutics PLC, the diagnostics data
analytics and implementation services company, announces that it
has invested GBP1 million in the expansion and enhancement of its
global data lake through the acquisition of 16 million additional
patient records per annum.
Utilising 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.
The 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.
Precision 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 patient
outcomes.
Ryan Keeling, Chief Innovation Officer, Diaceutics, said:
"Precision medicine is revolutionising patient healthcare. However,
its impact is held back by the fragmented patient testing landscape
at a patient and disease level - burdened by ineffective testing,
slow turnaround times and inconsistent uptake. This additional
investment advances our ability to provide timely and actionable
insights about the testing landscape to our clients in all key
geographic markets. We are expanding our global data lake to
further increase the granularity, frequency and concentration of
data, which is vital for pharmaceutical companies looking to make
strategic and tactical decisions relating to the rollout of their
precision therapies. We are transforming an industry model by
helping pharma companies interpret this mass of data, translate it
into seamless testing globally and ultimately drive better patient
outcomes through better access to these often life-changing
medicines."
In March, Diaceutics announced its initial public offering (IPO)
on the AIM market of the London Stock Exchange. The Company
committed to dedicating GBP5.5M of the net proceeds towards the
acquisition of additional data sets to enhance its proprietary data
lake. As part of this, Diaceutics will add new data and implement
activities to further develop AI analytics capabilities. The
announcement today is the first phase of this GBP5.5M
investment.
Enquiries:
Diaceutics PLC www.diaceutics.com
Peter Keeling, Chief Executive Via Walbrook PR
Officer
Philip White, Chief Financial
Officer
Cenkos Securities plc (Nominated
adviser and broker) +44 (0) 20 3861 6630
Callum Davidson / Giles
Balleny
Michael Johnson (Sales)
Walbrook PR Tel: +44 (0)20 7933 8780 or diaceutics@walbrookpr.com
Anna Dunphy Mob: +44 (0)7876 741 001
Paul McManus Mob: +44 (0)7980 541 893
About Diaceutics
Diaceutics PLC is a leading diagnostics data analytics and
implementation services business for major pharmaceutical
companies. The Company, listed on the Alternative Investment Market
(AIM) of the London Stock Exchange, is transforming an industry
model by enabling pharma to accelerate their market penetration and
achieve a better return on new therapies by helping them to
revolutionise their patient testing. It does this by providing
insights generated from its vast data lake consisting of real time
diagnostic testing data gather from clinical laboratories around
the world. Diaceutics' services help pharma to understand and
leverage the diagnostic landscape and deploy initiatives that
improve patient diagnosis. The Company has experience of more than
300 precision medicine projects and works with more than 30 global
pharmaceutical companies. The Company employs a leading global
group of experts from the laboratory, diagnostic and pharmaceutical
industries. www.diaceutics.com
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