Diaceutics investment set to bring 20 jobs at global diagnostics firm

Grainne McVeigh, director of Life Sciences at Invest NI with Diaceutics CEO Peter Keeling
Grainne McVeigh, director of Life Sciences at Invest NI with Diaceutics CEO Peter Keeling

Precision Medicine and diagnostics service provider, Diaceutics, is aiming to improve the way patients are tested in advance of treatment, with a £2 million R&D investment.

The firm is to create a new data platform leveraging data from global clinical laboratories,that is expected to create 20 jobs at its Blefast data hub.

Invest NI has offered the company more than £480,000 towards the project.

Diaceutics is the world’s leading provider of precision medicine data analytics, software and service solutions and works with the pharmaceutical industry to further the application of precision medicine, an approach which tailors medical treatments to the individual characteristics of each patient.

“Precision medicine relies on a step change in the way patients are being tested in advance of treatment,” said CEO Peter Keeling.

“High levels of missed and misdiagnosed patients still curtail the promise of precision medicine across the globe and along with the support of Invest NI we will continue to expand our collection, management and analysis of some of the most important patient testing data shaping the precision medicine space today.”

In particular, he said Invest’s support was enabling the business to offer a competitive advantage in the marketplace by providing real world evidence, more accurate forecasting and more detailed physician segmentation.

“We will be working with pharmaceutical firms in the coming months, to build awareness of our advanced insights here and explore opportunities to integrate those insights earlier into their commercial investments.”

Grainne McVeigh, Director of Life Sciences at Invest NI, said: “Diaceutics is undertaking an exciting investment that, through the work with their pharmaceutical clients, will equip physicians with the information and tools to deliver targeted patient care based on their molecular profile, improving outcomes and containing the costs associated with a trial-and-error approach to disease treatment.

“Life and health science is an area of high growth opportunities and we are delighted to be supporting Diaceutics’ efforts to lead the innovation and commercialisation of solutions that will develop the diagnostics market worldwide.”