Diaceutics awarded £1m in UKRI funding

(Sharecast News) - Diaceutics, a technology and solutions provider for the pharma and biotech sectors, announced on Thursday that it has been awarded £1m in grant funding from the UK Research Institute (UKRI) 'Strength in Places' fund. The AIM-traded firm said the funding would support efforts to address clinical practice gaps, ensuring broader access to precision medicine for patients in Northern Ireland and the wider UK.

As part of the initiative, Diaceutics said it planned to enhance its data products in 2025, contributing to improved precision medicine solutions.

The grant was part of the UKRI's £34m 'Wave 2' investment phase, supporting the Future Medicines Institute at Queen's University Belfast, aiming to provide infrastructure and expertise to Northern Ireland-based companies while serving as a research accelerator.

"We are very grateful to the UKRI for awarding this funding, which we will deploy to support our research and development activities," said chief executive officer Ryan Keeling.

"Initiatives such as this are very important and will help us progress our data products, clinical data & bioinformatics pipeline development, staff skills and apprenticeships development."

At 1240 GMT, shares in Diaceutics were down 0.32% at 116.12p.

Reporting by Josh White for Sharecast.com.