Diaceutics is a Belfast-based data analytics company focused on precision medicine diagnostics and the DXRX platform, an end-to-end diagnostic network intended to develop and commercialise companion tests for new drugs. The company says DXRX aggregates over 227 million patient records—the "world’s largest repository of diagnostic testing data"—and connects a network of 2,500 labs across more than 50 countries, serving 36 pharmaceutical companies. Diaceutics aims to reduce delays that leave patients without access to precision medicines—its research claims half of patients miss out and that companion diagnostics are available on average 4.5 years after a drug’s launch. Over £20 million has already been invested in the DXRX platform. To support global expansion and further product development, the company has secured £4 million from Silicon Valley Bank’s UK Branch as working capital under a three-year plan. Diaceutics was founded in 2005 and entered the Alternative Investment Market of the London Stock Exchange last March. Diaceutics provides data-driven diagnostic commercialization services, generating insights from real-time testing data across its worldwide laboratory network to help pharmaceutical companies commercialize targeted therapies. The company sells data analytics services to pharmaceutical clients and supports a lab network and precision-medicine projects. It plans to invest further in its data analytics capabilities, expand its laboratory network, grow its team, broaden data sources, and diversify beyond oncology into general medicine. Diaceutics has partnered with Intel and Lenovo to leverage artificial intelligence and machine learning to improve diagnosis and treatment. Over the last three years the company reported 60% year-on-year revenue growth; it recorded $10 million in revenue in 2017 and aims to reach $40 million by the end of 2020. Diaceutics works with 31 of the world’s top pharmaceutical companies, leads the top 10 global markets with a 60% market share, and has experience in more than 300 precision medicine projects.

Total raised

$10M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2020