Diaceutics strikes 'groundbreaking' enterprise promotional partnership

Technology and solutions provider Diaceutics has struck a "groundbreaking enterprise promotional partnership" with a "leading biotech" firm worth up to £4.3m over 18 months.

Diaceutics said on Monday that it will become the unnamed client's primary promotional partner for the launch of a breakthrough oncology precision medicine in the US using its PMx suite of data-driven services built for the promotion and commercialisation of precision medicine.

The AIM-listed firm stated the partnership represented its seventh enterprise-wide engagement and the first PMx primary promotional partnership deal in which its fee structure was aligned with patient recruitment onto therapy.

"PMx unlocks new revenue streams for Diaceutics and shows the path to considerable increase in revenue per brand," said Diaceutics.

"This agreement is to deploy PMx through to the end of 2025 and is worth at least £2.4min service revenue to Diaceutics, with additional milestone fees estimated to be worth another £1.9m payable during that period based on successful patient recruitment onto therapy. There is an expectation that the agreement will extend beyond 2025 should the initial phase be successful."

As of 0930 BST, Diaceutics shares were up 6.35% at 131.88p.

Reporting by Iain Gilbert at Sharecast.com