Join our daily newsletter At The Bell to receive exclusive market insights
- Proteomics International Laboratories (PIQ) extends its exclusive distribution agreement for PromarkerD in Great Britain
- The company added an additional five years to its existing deal with medical diagnostics company Apacor to bring its PromarkerD predictive test for diabetic kidney disease to patients in England, Scotland and Wales
- The updated contract allows Apacor the exclusive right to sell the immunoassay version of the PromarkerD test across the three countries, with Proteomics to receive payment for each kit sold up until the end of January 2028
- The two parties have now begun discussions to extend their relationship into selected countries in Europe
- Proteomics International shares are trading 0.94 per cent higher to $1.07 at 11:06 am AEDT
Proteomics International Laboratories (PIQ) has extended its distribution agreement for its PromarkerD product in Great Britain.
The company added an additional five years to its existing agreement with medical diagnostics company Apacor to bring its PromarkerD predictive test for diabetic kidney disease to patients in England, Scotland and Wales.
PromarkerD is a prognostic test that can predict future kidney function decline in patients with type two diabetes or no existing diabetic kidney disease using a simple blood test.
An initial distribution deal was signed between PIQ and Apacor in November 2021 for a two-year licence agreement. Since then, the parties have achieved several key milestones, including PromarkerD being registered for use with the UK Medicines and Healthcare products Regulatory Agency.
On the back of this success, the companies agreed to extend the contract for a further five-year term, with an expiration date of January 31, 2028.
The updated distribution agreement gives Apacor the exclusive right to sell the immunoassay version of the PromarkerD test across the three countries, while Proteomics International will receive payment for each kit sold.
Both parties are now working towards seeing PromarkerD included in the NICE Guidelines and engaging with the National Health Service (NHS) supply chain tender process as part of the commercial roll-out of the test in the UK.
Apacor Managing Director Anthony Bellm said he was “excited” by the feedback the companies were seeing for PromarkerD.
“This world-first test offers huge benefits for the growing number of people living with diabetes in Great Britain, as well as significant savings to the NHS,” Mr Bellm said.
“The test will support doctors in providing early treatment options for high-risk patients while avoiding unnecessary interventions for patients who are predicted to be at low risk of a decline in kidney function.”
Proteomics International and Apacor have also now begun discussions regarding extending their relationship to selected countries in Europe.
Proteomics International shares were trading 0.94 per cent higher to $1.07 at 11:06 am AEDT.
