Northern Ireland technology and services provider agrees contract with US firm which could generate over £4.5m in recurring service revenues
Belfast’s Diaceutics has agreed a contract with the new US licence holder for the oncology precision medicine BIZENGRI, which could generate more than £4.5m in recurring service revenues
Diaceutics, a Belfast-based technology and services provider to the pharma and biotech industry, has agreed a contract with the new US licence holder for the oncology precision medicine BIZENGRI, which could generate more than £4.5m in recurring service revenues.
Partner Therapeutics will continue to deploy the PMx commercialisation solutions previously contracted with the previous US license holder.
Diaceutics chief executive Ryan Keeling, said: "We are very excited to be working with Partner Therapeutics as they commercialise this novel and important therapy for patients with unmet needs.
"Our platform will enable Partner Therapeutics to identify and ensure patients get the opportunity to be treated with the optimal oncology therapy as fast as possible. The team at Partner Therapeutics recognises the need for an innovative commercial model and the potential for our PMx solution to deliver significant value as they bring BIZENGRI to market."
PMx is a commercialisation service designed to combine all of Diaceutics' services to ensure patients are identified, based on their unique genomic profile, and offered the optimal treatment for their condition as fast as possible.
Under the terms of the agreement with Partner Therapeutics, Diaceutics will leverage its DXRX platform to enable the commercialisation of BIZENGRI.
This agreement follows on from the original BIZENGRI PMx contract announced August 19 2024, superseding it from April 1 2025, and follows the sale of the US rights of BIZENGRI to Partner Therapeutics.
Diaceutics will initially deploy its commercialisation solutions through to 30 September 2026, which is expected to be worth up to £4.5m in recurring service revenues over that timeframe.
The contract includes annual autorenewal terms which, if exercised at the end of September 2026, would see the contract extended through to September 2028. This could generate an additional £7m in recurring revenue.