Dundalk medtech company signs ‘multimillion-euro’ US deal

24 Apr 2017

Peter Keeling, CEO, Diaceutics. Image: Kevin Boyes/Press Eye

Diaceutics has signed a five-year, ‘multimillion-euro’ partnership with a US company to help the Irish business deliver on its patient testing plans.

Dundalk-based Diaceutics works to use patient data to better provide for approaches to treatment, and it just hit the big time.

The company has revealed a deal with US-based BioReference Laboratories that will provide Diaceutics with access to 50,000 patient data samples per day.

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Coupled with insights from BioReference, the real-time data will help improve patient testing, claims Diaceutics, by ensuring that pharma companies learn more about various doctors’ testing patterns.

BioReference works with 30,000 healthcare providers in the US, meaning the data coming through Diaceutics’ programmes will provide a wealth of opportunity.

BioReference’s data “allows pharma to pinpoint patients that need to be on a specific – and often life-changing – drug, accelerate speed to market for new drugs and improve patient outcomes,” said Peter Keeling, CEO of Diaceutics.

Claiming “timing is key” for patients and their treatment, Keeling claims the attraction of new drugs into the healthcare system is paramount.

“We have seen first-hand the improved decision-making by our pharma clients when presented with the relevant data trends in specific disease areas,” said Keeling.

“Enriching our real-time and retrospective analytics with BioReference’s knowledge base allows us to further map the diagnostic journey of patients and help pharmaceutical companies better understand how testing impacts precision prescribing.

“With this information, we can simply enable better decision-making and investment in patient, physician and laboratory education.”

Earlier this week, Diaceutics announced 30 new jobs in the area of data analysis, global operations and marketing on the back of 60pc revenue growth.

The jobs, which will be filled by the end of 2018, will facilitate further international growth for Diaceutics and allow it to expand its presence in all of its key markets, including the US, Europe, Asia and South America.

The new roles will increase its global team to 100, and will be created at its headquarters in Ireland, its US headquarters in Parsippany, New Jersey, and in satellite offices in Asia and South America.

Gordon Hunt was a journalist with Silicon Republic