Diaceutics announces good start to year as DXRX platform builds momentum

Irish data analytics firm Diaceutics said it had a good start to fiscal 2021 despite the Covid-19 pandemic, with the launch of its DXRX platform providing momentum.

In a business update for the six-month period ended June 30, the company said it expected revenue growth of around 13% to £ 6.0million, up from £ 5.3million in the first semester 2020.

The DXRX platform was launched in October 2020, with the goal of early 2021 to generate 20% of the annual turnover to be generated via the platform. It exceeded that target, generating 30% of revenue from 25 projects through the platform.

Diaceutics continues to invest in the development of the platform. He ended the period with net cash of £ 23.7million.

“I am pleased to report a positive business performance in the first half of the year, demonstrating the growing momentum of the business following the successful launch of the DXRX platform last year,” said Peter Keeling, CEO and founder of Diaceutics. “We see clear evidence of its value to stakeholders in the pharmaceutical industry and to Diaceutics, providing us with the ability to tailor our offering as the increased growth of the precision medicine industry continues. We remain confident that we are on track to become a strategically integrated platform provider to the pharmaceutical industry. ”

The Group’s half-year results for the half-year should be published in September.