'We are really excited by these new partnerships and the opportunity to bring our DXRX platform to a much wider audience'
Diaceutics has reported significant growth in its US business in 2024, driven by a series of new commercial data partnership agreements
Diaceutics, a Belfast-based technology and services provider for the pharmaceutical and biotech industries, has reported significant growth in its US business in 2024, driven by a series of new commercial data partnership agreements.
The company announced that it executed a key partnership agreement in the first half of 2024, followed by an additional four agreements in the second half of the year to date. These agreements are expected to generate a total contract value of £1.13 million in their first year.
These partnerships are part of Diaceutics’ strategy to expand its reach in the US market through various marketplaces and by leveraging partner sales teams in a co-selling model.
According to Diaceutics, these commercial data partnerships are instrumental in scaling the company's US presence, allowing it to offer high-margin data products such as its DXRX Signal platform to a broader range of pharmaceutical brands and new customer segments.
Ryan Keeling, CEO of Diaceutics, expressed enthusiasm about the new agreements: "We are really excited by these new partnerships and the opportunity to bring our DXRX platform to a much wider audience. In doing so, we are set to grow and scale our market opportunity. It's particularly gratifying to see these agreements already contributing to revenue and Annual Recurring Revenue (ARR) ahead of plan for 2024."
The announcement underscores the ongoing expansion of Diaceutics’ commercial footprint and its growing influence in the global pharma and biotech sector, particularly in the US market.