LONDON-listed diagnostic commercialisation company Diaceutics has confirmed plans to move its head office to the new Dataworks precision medicine hub at Kings Hall Life Sciences Park in Belfast.
It has signed a ten-year lease on a 10,000 square foot grade A building in the hub, paying an annual rent of £195,000. It moves in on July 1.
Diaceutics says the new larger facility will provide increased capacity to support its operational footprint.
The Dataworks precision medicine hub is part of the £100 million redevelopment of the Kings Hall in Belfast in a joint venture by developer Benmore and UK healthcare and property investor Octopus
Peter Keeling, chief executive of Diaceutics, which will be the first tenant of Dataworks, said: "These new premises in this exciting and dynamic area mark a new stage of growth for our business.
"Dataworks is well placed for us to work alongside two of the UK's leading universities and innovative medical research facilities.
"In this way we are using the strength in our location, to further support our goal to improve patient testing and health globally, and we continue to build on this through our DXRX platform."
The creation of a scientific hub with a precision medicine focus in line with government policy has been key in the company’s decision, and the Life Sciences Park will bring together a convergence of companies from drug development to health technology.
The move will enable Diaceutics to leverage the talent from universities like Queen's and UU to create a diverse group with a core focus on the latest science, data and technology.
Mr Keeling is a director and has a financial stake in O'Connor McCann Limited, which is the landlord company at Dataworks.
Earlier this month Diaceutics reported that sales in 2020 fell by 6 per cent from £13.4 million to £12.7m, while gross profit fell back by 8 per cent to £9.4m (2019: £10.3m).
It ended the year with a pre-tax loss of £700,000, compared to a profits of £500,000 in 2019, though the company's net assets doubled to £40.2m from £20.1m a year earlier.
