Diaceutics PLC (AIM:DXRX) saw its shares jump over 13% higher after news the firm has secured a three-year enterprise contract with a top 10 global pharmaceutical company in the United States, marking a significant achievement for the leading technology and solutions provider.
The contract, valued at US$10.1mln over the initial three-year period, includes additional options that could substantially increase its scope and value, with revenue to be recognized on a monthly basis, spread evenly throughout the contract.
In a statement, Ryan Keeling, the company's chief innovation officer, commented: "The strength of our growing pipeline of new enterprise-level contracts highlights the progress made in becoming the primary commercialisation partner for pharma or biotech companies launching a new precision medicine.
"Moreover, this contract shows that the data and expanded services we are now providing are seen as being of increasing value to their sales and marketing efforts. The additional opportunities that this creates for us is a very significant part of our accelerated growth strategy."
Around 9.05am on Monday, shares in Diaceutics were up 13.7% at 91.50p.