Business Irish

Tuesday 25 June 2019

Irish medtech firm Diaceutics opens new Singapore hub to capitalise on growing Asian market

Damian Thornton
Damian Thornton
Louise Kelly

Louise Kelly

Irish med tech firm Diaceutics is opening a new regional hub in Singapore in an effort to expend its presence across the Asian market.

The Dundalk-based company, which uses diagnostics intelligence to connect patients to the right drugs, estimates that there are currently more than 300 targeted oncology drugs in late stage development across this region.

Diaceutics currently works with 166 laboratories across Asia and more than 10pc of the company’s annual revenues come from this market.

Its move into the continent, with an initial team of six, is supported by the Singapore Economic Development Board (EDB).

From its Asian HQ, Diaceutics will support the launch of, and access to, precision therapies in China, Japan, Hong Kong, South Korea, Thailand and Taiwan.

COO Damian Thornton said the company is on a mission to improve patient outcomes worldwide through better testing.

"With more than half of the world’s population residing in Asia, this is a natural step for us. Singapore provides the ideal hub from which to ramp up our work in Asia and the EDB was instrumental in helping us to establish here," he said.

Diaceutics also has offices in the US, UK and Ireland.

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