Diaceutics PMx Promotional Partner Contract Enhancement

Transition to new PMx customer and enhanced commercial terms agreed post the license of US rights to BIZENGRI^® (zenocutuzumab - zbco) to Partner Therapeutics Inc.

Extended multi-year PMx promotional partnership to be worth up to £11.5m

New York, Belfast and London, 26 March 2025 - Diaceutics PLC (AIM: DXRX), a leading technology and solutions provider to the pharma and biotech industry, today announces that it has agreed contractual terms with Partner Therapeutics, Inc. (Partner Therapeutics), the new US license holder for the oncology precision medicine BIZENGRI® (zenocutuzumab - zbco). Partner Therapeutics will continue to deploy the PMx commercialisation solutions previously contracted with the previous US license holder. The Partner Therapeutics PMx contract supersedes the contract previously announced on 19 August 2024.

Ryan Keeling, Diaceutics' Chief Executive Officer, commented: "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' unique solutions to ensure patients are identified, based on their unique genomic profile, and offered the optimal treatment for their condition as fast as possible. With Diaceutics' best in class daily Signal product at its core, Diaceutics will provide all of the DXRX platform services including patient identification, patient recruitment, diagnostic test adoption & optimisation and physician engagement & education.

PMx represents a novel commercialisation solution which allows pharma and biotech companies to launch precision medicines in a more lean and agile way, whilst accelerating the adoption curve and maximising patients on therapy - an approach that Diaceutics believes is revolutionary for the precision medicine market.

Terms of the Agreement

Under the terms of the agreement with Partner Therapeutics, Diaceutics will leverage its DXRX platform, specifically its best-in-class genomic lab data, lab network, omni-channel marketing, digital and peer to peer physician education to enable the commercialisation of BIZENGRI^®.

This agreement follows on from the original BIZENGRI^®  PMx contract announced 19 August 2024, superseding it from 01 April 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 £4.5 million 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, which would deliver an additional £7.0 million in recurring service revenue over that timeframe.

The Partner Therapeutics contract consists entirely of recurring service fee revenue. The contingent milestone fees which were originally negotiated as part of the previous contract, have been replaced in favour of guaranteed recurring service fees.  

£1.5 million of service fee revenue from the original PMx contract has already been recognised in the first 10 months of the contract through to 01 April 2025.

Enquiries: 

About Diaceutics

At Diaceutics we believe that every patient should get the opportunity to receive the right test and the right therapy to positively impact their disease outcome. We provide the world's leading pharma and biotech companies with an end-to-end commercialisation solution for precision medicines through data analytics, scientific and advisory services enabled by our platform DXRX - The Diagnostics Network®.

About Partner Therapeutics

Partner Therapeutics is an integrated biotechnology company, focuses on development and commercialisation of therapeutics to improve health outcomes in cancer and other serious diseases. The company believes in delivering products and supporting medical teams with the purpose of achieving superior outcomes for patients and their families.  For additional information, please visit the PTx website.

Please see BIZENGRI^® Important Safety Information and the complete Prescribing Information, including Boxed Warning, at www.bizengri.com.

Prior to publication the information communicated in this announcement was deemed by the Company to constitute inside information for the purposes of article 7 of the Market Abuse Regulations (EU) No 596/2014 as amended by regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations No 2019/310 ('MAR'). With the publication of this announcement, this information is now considered to be in the public domain.  The person responsible for making this announcement on behalf of the Company is Nick Roberts, Chief Financial Officer.