- Diaceutics
- 26 March 2025 11:41:37
Source: Sharecast
The AIM-traded firm said the updated contract, which superseded a prior deal announced last August, was expected to generate up to £11.5m in recurring service revenues for Diaceutics.
Under the revised terms, Diaceutics said it would continue to deploy its PMx offering through its DXRX platform, delivering integrated services including patient identification, diagnostic adoption, recruitment, and physician education.
The initial term would run through to 30 September 2026 and was valued at up to £4.5m.
It said the contract also included an annual auto-renewal mechanism, which, if exercised, could extend the partnership through September 2028, adding a further £7m in revenue.
The new agreement shifted the revenue structure from a mix of service fees and contingent milestones to fully recurring service fees, offering greater visibility and predictability.
Diaceutics said it had already recognised £1.5m in service revenue from the initial PMx contract in the 10 months leading up to April.
PMx is positioned by Diaceutics as a novel, agile commercialisation solution for precision medicines, designed to accelerate therapy adoption and improve patient outcomes by matching individuals with appropriate genomic profiles to targeted treatments.
The board said the deal reflected Diaceutics’ strategy of securing long-term, recurring revenues through partnerships with pharma and biotech clients launching precision therapies in the US market.
“We are very excited to be working with Partner Therapeutics as they commercialise this novel and important therapy for patients with unmet needs,” said chief executive officer Ryan Keeling.
“Our platform will enable Partner Therapeutics to identify and ensure patients get the opportunity to be treated with the optimal oncology therapy as fast as possible.
“The team at Partner Therapeutics recognises the need for an innovative commercial model and the potential for our PMx solution to deliver significant value as they bring Bizengri to market.”
At 1011 GMT, shares in Diaceutics were up 0.79% at 127p.
Reporting by Josh White for Sharecast.com.