Diaceutics strikes two new enterprise-wide agreements

16th May 2024 10:09

(Sharecast News) - Technology and solutions provider Diaceutics has struck two new enterprise-wide agreements, taking the total number to six engagements, across 29 separate therapeutic brands.

Diaceutics said on Thursday that these enterprise-wide engagements demonstrated the "successful execution" of its strategy to offer more products and services to existing customers.

Enterprise-wide engagements currently represent annual recurring revenues of £9.0m, £2.5m of which relates to the two additional engagements announced today, making up "a significant proportion of group ARR".

The AIM-listed group added that in addition to the two new engagements announced today, its largest existing enterprise-wide customer had recently extended the term of its enterprise-wide engagement through the end of 2026.

Chief executive Ryan Keeling said: "The strength of our growing pipeline of new enterprise-level contracts highlights the progress we are making in becoming the primary commercialisation partner for pharma and biotech companies launching new precision medicines, validating the accelerated investment in our platform technology.

"These new engagements represent a significant step forward towards our core mission of getting every eligible patient the right test and the right therapy to positively impact their disease outcome."

As of 1000 BST, Diaceutics shares were up 4.33% at 108.50p.

Reporting by Iain Gilbert at Sharecast.com