The head of Belfast data analytics and diagnostic commercialisation specialist Diaceutics says the company is seeing “tangible results” from two-year accelerated investment plan.
It came as the company, a leading technology and solutions provider to pharma and biotech companies, revealed that in the six months to June 30, its revenue grew by 24% to £12.3 million while its order book swelled to £27.9 million, of which around a third (£8.9m) is expected to be realised in the second half of this year.
Diaceutics’ chief executive Ryan Keeling said: “As we approach the end of our two-year accelerated investment plan, we are seeing tangible results being delivered.
“We are now working with more customers, across more brands and generating increased revenue per brand.
“We are constantly growing our data gathering capabilities and improving the efficacy of the DXRX platform through the use of AI, and can now provide our customers with the critical data insights they need within 24 hours which is hugely valuable to their efforts to identify patients in need.
“We are very excited by the recent launch of PMx which enables us to offer a full promotional solution for customers and also allows us to retain a greater share of the value we create.”
He added: “Given our strong performance in the first half, we remain confident in our full year revenue target and our ability to deliver profitability and cash flow generation from 2025.”
Among the strategic and commercial highlights noted by Diaceutics during the trading period was a 26% increase to 63 customer brands it has worked on.
It also said its well invested and highly scalable DXRX platform can now deliver up to $100 in additional therapy revenue for every $1 invested by its customers.
Looking ahead, it said it secured a first commercial contract for its successfully launched new PMx brand, which has the potential to increase annual revenue per therapeutic brand from £0.38 million to more than £2 million.
