Diaceutics announces London Stock Exchange IPO
22 March 2019 | 0
Diaceutics, a data analytics and implementation services company, has been floated on the AIM market of the London Stock Exchange.
Founded by EY Entrepreneur of the Year 2018 finalist Peter Keeling, Diaceutics helps pharmaceutical companies reach more patients that need to be on better, targeted and potentially life-saving drugs. In doing so, it has amassed a set of data from over 2,500 laboratories including 3.5 million longitudinal patient records, insurance claims data for 50M patients and 58 million testing event data points from 35 countries. Diaceutics expects the addressable market for its specific services to reach $2.5 billion by 2023.
The move gives the company a market capitalisation of £52.9 million.
“We are very pleased with the level of interest generated from new institutional investors in support of our admission to trading on AIM,” said Keeling.
“The move to AIM and the additional funding will allow us to continue our growth trajectory by developing our product and services offering which is focused on better testing and better treatment in the global pharmaceutical industry.
“The name Diaceutics reflects our activities at the intersection between diagnostics and pharmaceuticals, as does the ticker we chose, DXRX which uses DX, the industry short hand for a diagnostic and RX, the one for a prescription drug. We would like to thank our new and existing investors for their support, and the whole Diaceutics team for coming with us on this exciting journey.”
Diaceutics is the fourth company from Northern Ireland listed on the London Stock Exchange.