StockMarketWire.com - Diagnostic commercialisation company Diaceutics reported annual revenue ahead of market expectations as the launch of its diagnostic DXRX platform bolstered growth.

For the year ended 31 December 2021, revenue grew 10% year-on-year and 2% ahead of market expectations, and adjusted earnings before interest, tax, depreciation, and amortisation, or EBITDA, was up 294% to £2.1 million.

The DXRX platform was launched in October 2020 and in the full year 2021 delivered 57% of total revenues, 'significantly' ahead of the initial target of 20% set in 2020, the company said.

'Diaceutics continues to invest in the development and commercialisation of the DXRX platform, with adjusted EBITDA for the year ended 31 December 2021 in line with market expectations,' it added.

The group's annual audited results will be announced on 22 March 2022.

In a separate statement, Diaceutics also said it had appointed Nick Roberts as chief financial officer starting in mid-March 2022.

Roberts was currently Head of Group Reporting at Ergomed, a clinical trial service provider to the pharmaceutical and biotechnology industries.

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