Diaceutics has announced a five-year partnership with BioReference Laboratories.
Through its partnership with BioReference, Diaceutics will have access to data from 50,000 patient samples per day. Coupled with insights from BioReference, the real-time data will help improve patient testing by ensuring that pharmaceutical companies better understand the testing patterns of physicians considering precision medicine therapies for patients.
Currently, Diaceutics estimates that pharmaceutical companies are missing out on more than 12% of cancer patients every year in the US alone due to poor diagnostic planning.
“Diagnostic data from laboratories like BioReference helps pharmaceutical companies better understand the testing journey that patients go on in the often difficult search for a targeted therapy, determined by biomarkers,” Peter Keeling, CEO, Diaceutics, said. “That information allows Pharma to pinpoint patients that need to be on a specific – and often life-saving – drug, accelerate speed to market for new drugs and improve patient outcomes.”
Diaceutics will integrate the data gathered from BioReference with its existing data sets accumulated through partnerships with other labs. The data will allow Diaceutics to provide Pharma with more complete, aggregated testing data which helps to close the 12% patient gap in the oncology testing market and achieve a better return on new drug investments.
“With knowledge derived from more than 85 million patient samples and relationships with more than 30,000 healthcare providers, we have developed unique insights that can help pharmaceutical companies provide targeted therapies to patients that help fulfil the vision of precision medicine,” Richard Faherty, Executive Vice President, BioReference, said. “Diaceutics is transforming patient testing and has built trusted relationships with pharmaceutical companies by providing years of expert analysis to support drug launches. We are delighted to be able to work closely with them to meet the needs of our mutual customers and patients around the world seeking more effective therapies.”