Diaceutics PLC, the diagnostics data analytics and implementation
services company, announces that it has invested £1 million in the
expansion and enhancement of its global data lake through the
acquisition of 16 million additional patient records per annum.
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Ryan Keeling, Chief Innovation Officer, Diaceutics, says the expansion of the company’s global data lake is helping to provide vital insights for pharmaceutical companies rolling out precision medicine therapies. (Photo: Business Wire)
Utilizing Diaceutics’ proprietary software, this anonymized patient data
is being acquired through new partnerships with a number of key
commercial reference laboratories, academic institutions, payers and
data providers from the US, Asia, UK and Europe.
The investment enables regular data transfers from laboratory partners
in multiple markets that will ultimately improve Diaceutics’ service to
its Pharma clients, through a greater ability to track real-time changes
to patient testing at the disease level. This investment also broadens
Diaceutics’ geographic scope and provides new insight into these testing
markets.
Precision medicine drugs are tailored to patients expressing specific
molecular or genetic biomarkers, which are identified with a diagnostic
test. Diaceutics’ expansive data lake pinpoints information such as
where these tests are taking place, which physician or consultant has
ordered them, the frequency and turnaround times of those tests and how
accurate the results are. Leveraging sophisticated data analytics
capabilities, Diaceutics transforms this granular, data-rich information
into real world insights to help pharmaceutical companies increase the
uptake of their precision medicine drugs and therefore improve patient
outcomes.
Ryan Keeling, Chief Innovation Officer, Diaceutics, said: “Precision
medicine is revolutionizing patient healthcare. However, its impact is
held back by the fragmented patient testing landscape at a patient and
disease level – burdened by ineffective testing, slow turnaround times
and inconsistent uptake. This additional investment advances our ability
to provide timely and actionable insights about the testing landscape to
our clients in all key geographic markets. We are expanding our global
data lake to further increase the granularity, frequency and
concentration of data, which is vital for pharmaceutical companies
looking to make strategic and tactical decisions relating to the rollout
of their precision therapies. We are transforming an industry model by
helping pharma companies interpret this mass of data, translate it into
seamless testing globally and ultimately drive better patient outcomes
through better access to these often life-changing medicines.”
In March, Diaceutics announced its initial public offering (IPO) on the
AIM market of the London Stock Exchange. The Company committed to
dedicating £5.5M of the net proceeds towards the acquisition of
additional data sets to enhance its proprietary data lake. As part of
this, Diaceutics will add new data and implement activities to further
develop AI analytics capabilities. The announcement today is the first
phase of this £5.5M investment.
About Diaceutics
Diaceutics PLC is a leading diagnostics data analytics and
implementation services business for major pharmaceutical companies. The
Company, listed on the Alternative Investment Market (AIM) of the London
Stock Exchange, is transforming an industry model by enabling pharma to
accelerate their market penetration and achieve a better return on new
therapies by helping them to revolutionize their patient testing. It
does this by providing insights generated from its vast data lake
consisting of real time diagnostic testing data gather from clinical
laboratories around the world. Diaceutics’ services help pharma to
understand and leverage the diagnostic landscape and deploy initiatives
that improve patient diagnosis. The Company has experience of more than
300 precision medicine projects and works with more than 30 global
pharmaceutical companies. The Company employs a leading global group of
experts from the laboratory, diagnostic and pharmaceutical industries. www.diaceutics.com
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