Company of the Month

Company of the Month November 2020: Diaceutics launches €26m precision medicine platform

By Business & Finance
02 December 2020
Pictured: Peter Keeling, CEO, Diaceutics

Diagnostics company launched €26m precision medicine platform in late October

Diagnostics company Diaceutics is the Business & Finance Company of the Month November 2020. The Belfast-based group launched its €26 million DXRX precision medicine platform in late October, which the company hopes will improve the efficiency of patient testing for a range of diseases.

The aim of the DXRX platform is to streamline the securing of treatment for patients from years to months. “When you look at that diagnostic journey we see lots of wasted opportunities to find those patients earlier and intervene earlier, because we all know that the earlier you get them on the right therapy the better the outcomes,” CEO Peter Keeling said. “This is really about triaging patients through the system faster.”

DXRX integrates a pipeline of anonymised global diagnostic testing data into one secure platform, providing access to reporting on diagnostic utilisation at a local level.

The platform also provides users access to a global expert advisory panel of key opinion leaders from the areas of oncology, including lung cancer research and colorectal research; and pathology, including tissue pathology and uropathology.

Sarah Colgan, head of global marketing at Diaceutics, said: “As we see exponential growth in the number of precision medicine therapies coming to market, our pipeline of global diagnostic testing data points to a growing number of hurdles in the testing ecosystem.

“We need to urgently address these with a better model. The opportunity for collaboration to address these testing hurdles for patients can only be addressed by a transformational solution which is global, digital, and scalable, and that is why DXRX has been launched.

“The fact that it can take years for a biomarker test to reach optimal adoption is unacceptable for patients. The platform has been purpose built to accelerate time to peak therapy prescription by reducing that lag time from years to just months.

“We believe DXRX sets a new industry standard for precision medicine which, until today, has been reliant on a business model entirely unfit for purpose, and it’s exciting to see a network of early collaborations across the industry.

“There is a better way to get every patient the treatment they deserve, and we believe DXRX is that way.”

The platform is currently live in 38 laboratories and diagnostic companies across the EU, Asia and the US. The company says it is working with leading service providers in 51 countries.

Business & Finance, Company of the Month

Business Person the MonthBusiness & Finance, in association with KPMG, recognises excellence in business through the ‘Company of the Month’ award. The Company of the Month award recognises the company which best demonstrates outstanding business leadership, sustainable growth, innovative strategy, strong financial returns and employee development.