Diagnostics data analytics and implementation services company, Diaceutics, to open regional hub in Asia
With more than 10% of the company’s annual revenues now coming from the Asian market, the announcement represents Diaceutics’ official move into the continent, supported by the Singapore Economic Development Board (EDB).
Diaceutics estimates that there are currently more than 300 targeted oncology drugs in late stage development across the major Asian markets. From its Asian HQ, Diaceutics will support the launch of – and access to – precision therapies in China, Japan, Hong Kong, South Korea, Thailand and Taiwan.
Damian Thornton, COO, Diaceutics, said:
We expect our presence in Asia will be buoyed by recent activity in the Chinese precision medicine market. The country is making a concerted effort to provide those who get sick access to the latest and most effective treatments. That means rapidly approving ground-breaking new drugs. This is making it an attractive market for pharmaceutical companies to launch new therapies and as more targeted treatments become available, efficient biomarker testing will be crucial to getting those drugs to the right people. That is where we believe we will make a difference – not only in China but also throughout the rest of Asia.”
Diaceutics currently works with 166 laboratories across Asia. In order to maximise patient impact, it will expand its Asian laboratory network, allowing it to gather patient testing data and work with pharmaceutical companies and local manufacturers to improve testing accuracy and turnaround times.