Diaceutics, the Belfast based data analytics company that specialises in the area of healthcare and medicine, said its chief executive Peter Keeling is to step down from the position on January 1, 2024.
Mr Keeling has been CEO of Diaceutics for the past 18 years and the company said he will continue to serve on the Board as an Executive Director, to support the transition.
Ryan Keeling, the company's Chief Innovation Officer, has today been appointed CEO Designate and will become CEO on 1 January 2024.
He joined Diaceutics in 2006 and became a member of the board when the company listed in 2019.
Diaceutics also reported its results for the six months to the end of June - posting a rise in revenues and an increase in pre-tax losses.
Revenues for the half year rose by 32% to £9.9m from £7.5m the same time last year, while the company said its pre-tax losses increased to £2m from £1.1m in 2022.
The company said it had seen a 43% increase in its order book to £24.1m, up from £16.9m at December 2022. £6.8m of the order book expected to be realised in the second half of 2023, it added.
During the six month period, Diaceutics said it worked with 50 therapies, up 22% on last year, across 37 customers.
It said that four enterprise-wide engagements were secured by the end of June with a total contract value of $20.1m to deliver insight data solutions for up to three years across 25 pharma therapies.
Peter Keeling, CEO of Diaceutics, said that as its pharma customers continue to evolve their investment to precision medicines, the company was extremely well positioned to deliver the data insights and lab network they need to find patients in need of appropriate therapies.
He said the strong momentum the company saw in 2022 has continued into 2023 and delivered a very positive first half performance, with recurring revenue and order book growth, continued expansion of its lab network and therapy brand growth in line with its strategic roadmap.
"Pharma companies are increasingly recognising the importance of utilising our data technology and lab network to significantly improve their commercial success," Mr Keeling said.
"We remain confident in our proven growth strategy and ability to perform and deliver future growth as we continue to hit our key milestones for the DXRX platform expansion and introduce new products to profile and target suitable patients," he added.
