Commercial launch of DXRX

RNS Number : 3939D

Diaceutics PLC

28 October 2020

 

Diaceutics PLC

("Diaceutics" or the "Company")

Commercial launch of DXRX - The Diagnostic Network®

Proprietary diagnostic network platform solution for precision medicine

-  Diaceutics launches their proprietary diagnostic network for precision medicine,DXRX- The Diagnostic Network® to solve the significant issues facing testing ecosystem

-  The platform provides access to a pipeline of global diagnostic testing data on one secure platform and enables industry-wide collaboration which is expected to accelerate biomarker test adoption and time to peak therapy prescription from years to just months

-  Early collaborations are now live on DXRX with pharma, labs and diagnostic companies benefitting from the technology in EU, US and Asian markets

Diaceutics PLC, (AIM: DXRX), announces the launch of DXRX - The Diagnostic Network® ("DXRX") digital platform. The platform has been designed to accelerate the development and commercialisation of precision medicine diagnostics using a new operating model. DXRX integrates a pipeline of global diagnostic testing data into one secure platform and brings together stakeholders from across the industry to collaborate in a vibrant forum in a secure, standardised way.

Early collaborations between pharma, labs and diagnostic companies are now live on DXRX's platform which enables cross-industry collaboration on testing hurdles at any stage of the development and commercialisation process.

One such recent collaboration to go live this week focusses on addressing PD-L1 test reimbursement in the US. Users are invited to share real world data to enable the creation of an improved reimbursement model. PD-L1 is an immune-related biomarker that is expressed on tumour cells in various tumour types, including non-small-cell lung carcinoma ("NSCLC").   The desired outcome of this collaboration is to establish a more realistic level of reimbursement for PD-L1 testing through the assignment of a reimbursement coding specific to the biomarker , as evidenced in the 2020 Pharma Readiness ("PM") report published recently by the Company. Data given in the report reveals that, although PD-L1 has a test adoption rate of 80% for NSCLC, hurdles such as reimbursement, which are inadequately addressed at the planning stage, have resulted in a time to test adoption of up to four years with only 50% of patients getting the right treatment at the right time. This is an industry red flag needing urgent addressing for patients.  

Chief Executive Officer at Diaceutics, Peter Keeling said: "We believe that DXRX sets a new industry standard for precision medicine which, until today, has been reliant upon an operational model entirely unfit for purpose. It places laboratories at the centre of a precision medicine network, enables diagnostic companies to extract more value from the industry, and allows pharma to deliver seamless diagnostic testing for their precision medicines through collaboration on one, secure platform."  

To read the full marketing launch press release, please see here: https://www.diaceutics.com/articles/diaceutics-launches-worlds-first-diagnostic-network-for-precision-medicine-to-solve-global-cancer-testing-issues

Enquiries:

Diaceutics PLC
Philip White, Chief Financial Officer		Via Walbrook PR
Cenkos Securities plc (Nomad & Broker)		Tel: [phone]
Callum Davidson / Giles Balleny
Michael Johnson (Sales)
Walbrook PR	Tel: [phone] or [e-mail]
Anna Dunphy			Tel: [phone]
Paul McManus			Tel: [phone]

At Diaceutics we believe that every patient should get the precision medicine they deserve. We are a data analytics and end-to-end services provider enabled by DXRX - a proprietary diagnostic network solution for the development and commercialisation of precision medicine diagnostics. Diaceutics has created commercially useful data sets for every precision medicine brought to market and provides services to 36 of the world's leading pharmaceutical companies. We have built the world's largest repository of diagnostic testing data with a growing network of 2,500 labs in 51 countries.

 

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