March 2023 Quarterly Activities Report
Perth, April 27, 2023 AEST (ABN Newswire) - Proteomics International Laboratories Ltd (ASX:PIQ), a medical technology company at the forefront of precision medicine and predictive diagnostics, is pleased to provide the following update on its business activities for the three months to 31 March 2023 and subsequent to the period end.
- Novel blood test for endometriosis presented at international conference: Potential worldfirst blood test to improve screening for a disease that affects 1 in 9 women
- Major milestones achieved as CPT PLA reimbursement code approved and becomes effective for PromarkerD in the United States: Code is key to PromarkerD being covered by both Medicare and private health insurers in the US
- US licensing negotiation in closing stages: Proteomics International finalising terms with Sonic Healthcare USA to bring PromarkerD to the United States
- Clinical Advisory Board expanded to support PromarkerD USA and global rollout: New members comprise highly respected healthcare professionals and key opinion leaders (KOLs) specialising in primary care diabetes education and management
- Distribution agreement for PromarkerD in Britain extended: Deal with medical diagnostics company Apacor Limited extended for a further five years
- Application for PromarkerD listing on Australian Medicare Benefits Schedule (MBS) to be resubmitted: review committee notes potential wide uptake of the test and long term savings to the health system
- Exercise of options: The Company's balance sheet was boosted significantly following the exercise of options raising $3.1 million before costs.
Proteomics International's activities fall into three key areas:
(i) commercialisation of PromarkerD, the predictive test for diabetic kidney disease (DKD)
(ii) R&D for new diagnostic tests using the PromarkerTM pipeline
(iii) analytical services on a commercial basis
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About Proteomics International Laboratories Ltd
Proteomics International Laboratories (ASX:PIQ) is a wholly owned subsidiary and trading name of PILL, a medical technology company at the forefront of predictive diagnostics and bioanalytical services. The Company specialises in the area of proteomics - the industrial scale study of the structure and function of proteins. Proteomics International's mission is to improve the quality of lives by the creation and application of innovative tools that enable the improved treatment of disease.
Proteomics International Laboratories Ltd