Diaceutics reports progress with rare-disease offerings

27th Aug 2024 12:24

(Sharecast News) - Diaceutics announced a significant enhancement to its rare-disease offerings on Tuesday, leading to the acquisition of a new contract aimed at supporting the commercialisation of a rare-disease therapy.

The AIM-traded firm said the expansion was poised to revolutionise the early identification of patients - an area of critical importance for pharmaceutical companies focused on developing treatments for rare diseases.

Central to the enhancement was the expansion of Diaceutics' lab network, which now included several new genomic lab data partners specialising in rare diseases.

Among the partners was the largest genetic testing lab in the US - a major addition that would provide vital data to improve early patient diagnosis.

The board said the expanded network was expected to play a crucial role in identifying patients with rare diseases at an earlier stage, thus improving clinical outcomes and enhancing the potential for successful treatments.

In addition to expanding its lab network, Diaceutics said it had made significant advancements in its lab labelling capabilities through the use of natural language processing (NLP) technology.

The upgraded NLP process allowed for more accurate and standardised data processing, addressing a longstanding challenge in the industry by enabling the differentiation between pathogenic variants and variants of unknown significance (VUS).

Diaceutics said the technological advancement was expected to add significant value to the data being used by pharmaceutical companies in their efforts to diagnose and treat rare diseases.

Moreover, Diaceutics said it had strengthened its team by adding industry experts with deep experience in rare diseases.

The expanded expertise was expected to help biopharma clients maximise the value of Diaceutics' enhanced data capabilities, ensuring that the company could meet the complex needs of the specialised market.

The board said the strategic enhancements had already borne fruit, as evidenced by its recent contract win to provide a multi-product solution in support of the commercialisation of a therapy for a rare autosomal-recessive disease.

"These enhancements to our rare-disease data offering represent significant progress in our mission to support the earlier identification and treatment of patients with rare diseases," said chief data officer Jordan Clark.

"By integrating new data, advanced labelling and a specialised team, we are well-positioned to address the critical needs of this underserved market and help patients in need."

At 1110 BST, shares in Diaceutics were up 2.69% at 133.5p.

Reporting by Josh White for Sharecast.com.