Emerging Company in the Spotlight sponsored by JFK Communications.
BioNJ is pleased to shine the spotlight on one of our Innovation Members each month featuring their progress and work on behalf of Patients and their impact on the New Jersey life sciences ecosystem. This month’s Emerging Company in the Spotlight is Diaceutics.
So many of our Members are making a dramatic impact on our State’s innovation ecosystem. We celebrate you! Diaceutics is one such company.
In 2005, Peter Keeling, Chief Executive Officer of Diaceutics, envisioned the future of precision medicine, specifically the importance of diagnostics in efficient drug development. Keeling and his team saw that the personalized medicine space was starting to incorporate biomarkers into targeted therapies and pipelines, which would later become an increasingly large part of the drug development paradigm. Keeling recognized that global markets review diagnostics and drugs along separate regulatory pathways. In a future where the strategic development of companion diagnostics will become more attractive to industry and regulatory bodies, Diaceutics works to integrate the development process of both diagnostics and drugs.
Diaceutics is comprised of a group of over 50 experts recruited from commercial and government laboratories, academic organizations, pharmaceutical and biotech companies and diagnostic companies. Supported by a proprietary database of laboratory testing information, these areas of expertise combined with a global footprint enables the company to provide comprehensive solutions to pharmaceutical companies, regardless of where the company is geographically or where they are in the development process.
Assessing the Diagnostic Landscape
Diaceutics’ team of global experts is uniquely qualified to help pharmaceutical companies identify and effectively work with diagnostic partners to co-develop and commercialize companion diagnostics. Diaceutics provides critical landscape assessments designed to inform and build strategies that match best-in-class diagnostic and prognostic tools in parallel with targeted therapies. Diaceutics provides data and fact-based insights derived from the patient’s diagnostic journey, to best match the diagnostic with the therapeutic. This landscape assessment also helps inform the ideal ways to communicate to pathologists and physicians making therapeutic recommendations to patients.
Diaceutics’ innovative business tool, the Diaceutics Method, uses the insights and analysis from the landscape assessment to develop targeted strategies supporting the diagnostic test. The Diaceutics Method helps navigate the complexities of combining testing and therapy into a treatment pathway and helps track the implementation process from end-to-end. Within the Diaceutics Method is the Diagnostic Launch Planner, an innovative, proprietary launch planning and implementation tool. It contains over 150 case studies and 12 tools designed around the vital business questions each therapy team needs to work through. The Launch Planner provides data-driven, comprehensive recommendations to identify specific risks and actionable opportunities. Frequently, it is used as a tool to help track ROI during the commercialization process. Diaceutics typically finds that for every dollar invested in making the diagnostic test most effective, clients can expect to see a return of $30-$60 in increased therapy sales.
The Next 5-10 Years
While there has been much pressure on drug pricing, specifically for more expensive targeted therapies, there is also pricing pressure and proof for validity in diagnostic testing. Diaceutics anticipates that leveraging diagnostics will unlock the significant value and potential of precision medicine and help differentiate pharmaceutical brands.
Diaceutics aims to improve the “lab-physician interface” — a generally neglected area in the treatment process between physicians and patients. Diaceutics’ goal is to help laboratories present actionable information to the physician, who can then accurately interpret results and make the right treatment decision for the patient. In tandem, Diaceutics plans to leverage diagnostic testing to help pharma better integrate diagnostic testing solutions with targeted therapies.
Diaceutics continues its momentum in providing a forward-looking approach to patients in need by helping to evolve the management of various disease states and delivering targeted patient care through efficient diagnostic testing. “Diaceutics has shifted the perception that precision medicine is a construct only for targeted therapies and companion diagnostics,” said Peter Keeling. “We realize that EVERY therapy actually exists in its very own, often unlit, diagnostic ecosystem. By identifying and enabling diagnostic opportunities and collaborations with all pharma companies, Diaceutics believes that there will be substantial improvements in health outcomes, with immeasurable benefits seen for patients.”
For more information on Diaceutics, please visit www.diaceutics.com.