Belfast medtech Diaceutics has been named IPO of the Year at the 2020 Small Cap Awards.
The awards celebrate the finest in the sub-£200m market cap quoted company sector, and recognise the success of the organisations that work within the AIM and NEX exchange communities.
The ceremony was held virtually via Zoom at the end of June this year due to the ongoing Covid-19 pandemic.
Data analytics provider Diaceutics was listed on the AIM (Alternative Investment Market) of the London Stock Exchange in March 2019 – becoming one of only four companies in Northern Ireland currently listed there.
It provides services to 36 of the world’s leading pharmaceutical companies and said that it has built the world’s largest repository of diagnostic testing data, with a growing network of 2500 labs in 51 countries.
Its work includes a Covid-19 real-time oncology tracker, which shows the impact of the crisis on cancer testing and diagnosis in the US.
In its 2019 annual results, the company reported a 30% rise in revenues to £13.4m, as well as gross profit growth of 52% to £1.3m.
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Last month, Diaceutics announced it had raised £20.5m in a share placing as it said it is preparing for an increased demand in commercial diagnostic services.
In the later months of 2020 Diaceutics will launch its DXRX platform, which it says is the world’s first diagnostic network for precision medicine.
The firm believes the network will enable the industry-wide collaboration required to ensure every eligible patient gets the treatment they need, when they need it.
Peter Keeling, Diaceutics founder and CEO said: “We are absolutely delighted, not only with the award and nomination, but also the progress we have made over the last 18 months. The IPO has enabled us to grow, invest in our company and platform and increase our market share.
"Now we must build on this and further penetrate the precision testing market, and that’s where DXRX comes in. We are very excited to roll this platform out and witness the impact it has for patients across the globe.”
Following its IPO of the Year achievement, Diaceutics received a nomination in the International Star category in the European Small and Mid-Cap Awards which are due to take place in November 2020. A joint initiative by Europeanissuers, the Federation of European Securities Exchanges (FESE) and the European Commission, these awards showcase SMEs that recently went through an IPO.
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Source: Written from press release
