Diaceutics: Half of Eligible Cancer Patients Missing out on Potentially Life-saving Drugs
22 October 2019 - 12:35AM
Business Wire
- Diaceutics finds the average precision medicine drug is
launched 4.5 years before the accompanying diagnostic test is
available to all patients, therefore denying patients access to the
newest therapies
- Pharma’s precision testing pre-launch investment is being
monopolized by a small number of diagnostic companies and diverting
focus away from the investment needs of laboratories carrying out
testing
- Research finds labs continue to develop their own tests in
response to monopolization and to overcome delays in getting
precision medicines to patients
- 74% of oncology precision testing in the US now carried out
using tests developed by labs
- New research published in the 2019 Diaceutics Pharma PM
Readiness Report
Diaceutics PLC, (AIM: DXRX), a provider of diagnostic data
analytics and implementation services to the global pharmaceutical
industry, announces new research which shows that half of eligible
cancer patients may be missing out on tests for potentially
life-saving precision medicines. The findings are published in the
2019 Diaceutics Pharma Precision Medicine (“PM”) Readiness
Report.
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Diaceutics' 2019 Pharma Precision
Medicine Readiness Report has found that half of eligible cancer
patients are missing out on potentially life-saving drugs.
Pictured: Peter Keeling, CEO and founder, Diaceutics (Photo:
Business Wire)
Precision medicine drugs are tailored to patients expressing
specific molecular or genetic biomarkers, which are identified with
a diagnostic test. At the end of 2018 there were 173 FDA-approved
precision medicine drugs on the market, and it is estimated that
more than 100 will be approved in the next three years for oncology
alone.
Despite advances in precision medicine and the continuous
discovery of transformative biomarkers and biomarker combinations
that can identify new treatable patient groups, Diaceutics’ report
uncovers a highly fragmented precision testing ecosystem. It found
that the average oncology precision medicine therapy is launched
some 4.5 years before an accompanying diagnostic test is readily
accessible by all patients, resulting in a significant proportion
of the eligible patient population missing out on precision
medicine therapies.
A chief reason for this, according to Diaceutics’ findings, is
the near-monopolization of Pharma’s precision testing pre-launch
investment by a few diagnostic technology supply companies,
diverting focus away from the investment needs of laboratories and
other diagnostic providers on the front line.
The research found that as of 2019, the oncology revenues of 54
precision therapies rest upon the shoulders of six diagnostic
companies. This, the report states, is resulting in slow laboratory
test adoption, minimal support for the introduction of new
precision tests in laboratories, inadequate biomarker education for
physicians and lengthy lag times between the publication of
guidelines recommending a new therapy and guidelines recommending
the associated diagnostic test.
Furthermore, the Pharma PM Readiness Report found that in an
effort to improve the success and human impact of new precision
medicine drugs, laboratories are moving to bridge the gap between
themselves and Pharma. The Company found that following the launch
of a treatment, they are bypassing diagnostic technology supply
companies entirely and developing equally effective biomarker tests
themselves. Some 74% of all oncology precision testing in the US –
and more elsewhere in the world – is now carried out with tests
developed by laboratories, most without Pharma support.
Peter Keeling, CEO and founder, Diaceutics, said: “It is
mind-blowing that cutting edge treatments aren’t reaching the
patients they are intended for because of problems in the testing
ecosystem, which in a large part is being exacerbated by the
monopolization of essential investment needed in the post-launch
testing ecosystem. Monopolization in any industry is risky and
reduces competition. But in the case of precision medicine, the
risk is loss of patient lives.
“Today’s diagnostic companies generate revenues by developing
new tests to meet Pharma’s regulatory needs. Their profits
therefore no longer rely on the long-term success of precision
medicine therapies, so the seamless integration of patient testing
into new therapy launches is not of value to them. In contrast, for
Pharma, there is enormous value in improving the daily function of
the testing ecosystem. Our own research shows that for every dollar
invested by Pharma in appropriate and timely diagnostic
commercialization, the return is $30-$60 in additional therapy
revenue. This, in turn, results in more patients getting tested,
which is good news for labs, too.
“What we are seeing is the democratization of the testing
ecosystem by laboratories – something that we in Diaceutics welcome
but believe can be accelerated and improved with better
coordination between all the stakeholders. Diaceutics was founded
on a mission to connect the dots in the precision medicine
ecosystem and we are working with laboratories and pharmaceutical
companies to ensure more patients get access to better treatment at
the right time.”
- Ends -
About Diaceutics
Diaceutics PLC is a leading diagnostics data analytics and
implementation services provider for global pharmaceutical
companies. The Company, quoted on the Alternative Investment Market
(AIM) of the London Stock Exchange, is enabling Pharma to
accelerate their market penetration and achieve a better return on
precision medicine therapies by helping them to revolutionize
patient testing. By generating insights from its data lake of
clinical laboratory testing data and other data, Diaceutics helps
Pharma understand and leverage the diagnostic landscape through
initiatives that improve patient testing, leading to better
treatment outcomes. The Company works with more than 30 global
pharmaceutical companies across hundreds of precision medicine
projects. The Company employs a leading global group of experts
from the laboratory, diagnostic and pharmaceutical industries.
www.diaceutics.com
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Helen Morrogh Comit Communications & Marketing
helen@comit.ie +353 85 781 4755
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