Join our daily newsletter At The Bell to receive exclusive market insights
- Proteomics International Laboratories (PIQ) awarded $409,000 pharmacokinetic testing contract with Linear Clinical Research
- The partnership will allow Proteomics to test a novel drug for degenerative and inflammatory diseases on behalf of pharmaceutical company Sironax
- The study forms part of a Phase I clinical trial examining the safety, tolerability and pharmacokinetics of the drug and will be undertaken over the next 12 months
- The agreement supports Proteomic’s integrated business model and wider
strategic vision to exploit its specialised biomarker discovery and analytical services
capabilities - Proteomics International Laboratories shares are trading in the grey at $1.12 at 2:16 pm AEDT
Proteomics International Laboratories (PIQ) has been awarded a $409,000 pharmacokinetic testing contract with Linear Clinical Research.
The partnership will allow Proteomics to test a novel drug for degenerative and inflammatory diseases on behalf of pharmaceutical company Sironax.
The study forms part of a Phase One clinical trial examining the safety, tolerability and pharmacokinetics of the drug and will be undertaken over the next 12 months.
Managing Director Dr Richard Lipscombe said the contract comes amid strong global demand for pharmacokinetic testing and other analytical services.
“With Australia as a leading destination for clinical trials, we are seeing strong demand for our specialist testing services in this fast-growing space,” Dr Lipscombe said.
The company’s testing capabilities operate under a suite of global laboratory accreditations, recognising Proteomics ability to achieve technical, valid, traceable and reproducible results.
These include ISO 17025 chemical testing, ISO 17025 R&D with good laboratory practice overlay and the discrete ISO 13485 for medical devices.
“Proteomics International’s strengthened pharmacokinetic testing business continues to boost our analytical services revenue, which in turn helps offset the expenditure on our pioneering diagnostics pipeline, and its development and commercialisation,” Dr Lipscombe said.
“This area of contract research is a hot area globally, and is seeing lots of investment alongside mergers and acquisitions. It’s exciting to see this as we pursue our strategic vision to exploit our unique capabilities across analytical services and specialised biomarker discovery.”
Proteomics International Laboratories shares are trading in the grey at $1.12 at 2:16 pm AEDT.
