A Belfast and Louth-based company called Diaceutics has launched what is believed to be the world’s first digital platform to solve global cancer testing issues and is the culmination of a €26m investment so far.
Devised to accelerate the development of precision drugs for cancer treatment, Irish company Diaceutics’ DXRX platform is understood to be the culmination of more than €26m worth of investment.
Underpinned by Diaceutics′ database of more than 227m patient records, the platform will enable the industry-wide collaboration required between pharmaceutical companies, laboratories and diagnostic companies to unlock the power of precision medicine and ensure every eligible patient gets the treatment they need, when they need it.
“The fact that it can take years for a biomarker test to reach optimal adoption – as is the case with PD-L1 today – is unacceptable for patients”
It is envisaged that the cloud-based system will be used by global pharma companies, labs and diagnostic to create a secure pipeline of global diagnostic testing data.
This in turn will accelerate biomarker test adoption and reduce therapy prescription from years down to months.
So far around 38 labs and diagnostic companies have been onboarded to the system and early collaborations are taking place to address real-world cancer testing issues in the US, the EU and Asia.
Two global pharma players are also piloting the technology.
More than a decade in the making
“As we see exponential growth in the number of precision medicine therapies coming to market, our pipeline of global diagnostic testing data points to a growing number of hurdles in the testing ecosystem,” explained Sarah Colgan, head of Global Marketing at Diaceutics.
“We need to urgently address these with a better model. The opportunity for collaboration to address these testing hurdles for patients can only be addressed by a transformational solution which is global, digital, and scalable and that is why DXRX has been launched.
“The fact that it can take years for a biomarker test to reach optimal adoption – as is the case with PD-L1 today – is unacceptable for patients. DXRX has been purpose built to accelerate time to peak therapy prescription by reducing that lag time from years to just months. The testing hurdles in PD-L1 are just the tip of the iceberg in terms of the opportunities for collaboration around biomarker testing hurdles which DXRX has been designed to enable.”
Diaceutics was founded 14 years ago by Peter and Ryan Keeling.
In recent months ThinkBusiness reported how Diaceutics raised a further €4.45m (£4m) in financing to accelerate the development of its DXRX platform
In June Diaceutics raised £20.5m (€22.9m) in a share placing on the London Stock Exchange ahead of the launch of the DXRX digital healthcare platform in Q4.
Last year Diaceutics went public on the London Stock Exchange, raising £17m (€19.5m).
Pictured at top: Sarah Colgan, head of Global Marketing at Diaceutics
By John Kennedy (firstname.lastname@example.org)
Published: 29 October, 2020