Gresham House invests £4.5m in Diaceutics IPO
Gresham House Ventures has invested £4.5m in pharmaceutical data analytics business Diaceutics as part of the company's IPO on the AIM segment of the London Stock Exchange.
The investment is part of a £17m capital raise by the company, which says it is aiming to capitalise on the growing demand for test-dependent pharmaceuticals. The flotation gives the business a market cap of £53m.
Diaceutics will use the fresh capital to pay down its existing debt facility, fund the acquisition of data sets and invest in the development of artificial intelligence analysis and its software-as-a-service platforms.
WhiteRock Capital Partners and Sillicon Valley Bank provided Diaceutics with $5m of mezzanine financing in April 2018 to support the company's international expansion.
Company
Founded in 2006 and dual headquartered in Belfast and Parsippany, New Jersey, Diaceutics provides data analytics related to diagnostic tests. Its platform aggregates data related to around 2,500 laboratories across 35 countries. The company has a headcount of 65 across operations in the UK, Ireland, US and Singapore.
People
Gresham House Ventures - Brendan Gulston (investment director).
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