Diaceutics unveils €26m precision medicine network plan

Data analytics company Diaceutics has revealed its plans for a €26 million network that aims to support the use of precision medicines and help the Belfast company grow its business

The new network, which will be called DXRX, could help get precision drugs to more patients who will benefit from them and is expected to be available to pharmaceutical clients in the fourth quarter of the year.

DXRX is the result of a €26 million investment by Diaceutics in software and data, and will allow the company to meet the surge in demand for test and lab information that has come from an increase in precision medicines in the pharma pipeline.

The network will also facilitate a global standardised diagnostic process, offering an end-to-end solution for the development and commercialisation of precision medicine diagnostic testing.

AbbVie closes acquisition of Irish-based Allergan

---

Irish pharma exports to US in Trump’s sights

---

How the private sector answered Ireland’s call for help on coronavirus testing

---

Fusion Antibodies gets green light from investors for £3m rights issue

---

The network has taken 10 years of work, building relationships with more than 2,500 laboratories that will play a central role in the precision medicine network. The new network will be the world’s largest real-world diagnostic data repository, allowing different stakeholders to collaborate and opening up access to precision medicine for patients.

Collaboration problems up to now have led to a situation where, in oncology for example, only 50 per cent of eligible patients have access to precision medicines, according to figures cited by Diaceutics.

“Given the richness of the data we have, Diaceutics has been uniquely positioned to identify that, as an industry, we have been getting it wrong when it comes to patient testing for precision medicines.

"Our evidence, our partners and our experience tell us that there is a better way and that the time for that better way is now. We believe that DXRX is the model that can deliver significantly more value for all stakeholders, and most importantly, a model which enables every patient to get the treatment they deserve," said Diaceutics' chief innovation officer Ryan Keeling.

“The era of a therapy being launched with a single companion diagnostic option is behind us. We need to consider the global needs of our patients and the regional restrictions commonly faced. This calls for pharma to think beyond a one-size-fits-all approach to testing and embrace the democratisation of testing.”