Diaceutics PLC (AIM:DXRX) shares surged some 22% higher in Thursday morning’s deals after it unveiled a series of new business wins worth more than US$7mln, in aggregate.
The data and pharma-tech small-cap, in a statement, said it had won two separate ‘enterprise level’ engagements, each with a ‘top 10’ global pharmaceutical company.
These contract wins are expected to result in US$7mln of contract value over a two year period, it added, via a subscription-based monetisation.
"These enterprise level engagements are a testament to the value placed in our expanding offerings by pharmaceutical and life science organisations,” said chief executive Peter Keeling.
Diaceutics highlighted that it is delivering the subscription data services through its proprietary DXRX platform.
“The continued strong pipeline build serves to highlight the scale of the opportunity available to us within the market, as we continue to further embed within existing customers and onboard new top pharma companies to the DXRX platform,” Keeling added.
“Looking ahead, our position as a trusted precision medicine partner grants us a unique opportunity to expand our offerings beyond initial data insights and into our full suite of commercialisation solutions and advisory services."
In London, Diaceutics shares were up 17.6p or 22.3% changing hands at 96.66p, giving the AIM-quoted firm a market worth of around £81.6mln.