Proteomics International (ASX:PIQ) - Managing Director, Richard Lipscombe
Managing Director, Richard Lipscombe
Source: Proteomics International
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Proteomics International (PIQ) signs an exclusive licence agreement with Sonic Healthcare USA to commercialise PromarkerD in the US
  • PromarkerD is a newly developed blood test able to predict a decline in kidney function in type two diabetes
  • PIQ says its PromarkerD test is cost-effective, easy to use, and capable of predicting the onset of the disease in patients with diabetes
  • This US licence lasts five years and can be extended through mutual agreement
  • PIQ shares are up 16.7 per cent and trading at $1.05 at 2:03 pm AEST

Proteomics International (PIQ) has signed an exclusive licence agreement with Sonic Healthcare USA to commercialise its PromarkerD test for diabetic kidney disease (DKD) in the United States.

Under this agreement, Sonic will offer PromarkerD to physicians and healthcare systems through its client engagement teams across the country.

PromarkerD is a newly developed blood test able to predict a decline in kidney function in type two diabetes, with DKD a major complication arising from diabetes.

Proteomics reported an estimated 32 million adults live with diabetes in America and believes its PromarkerD could help identify risks of developing DKD.

Its PromarkerD blood test is considered cost-effective, easy to use, and capable of predicting the onset of the disease in patients with diabetes.

Sonic Healthcare Chief Medical Officer Dr Mohamed Salama said he looked forward to a “fruitful” partnership with Proteomics.

“Our goal of this partnership is to offer PromarkerD as a predictive test that will enable clinicians to identify which patients with type two diabetes are at risk of developing kidney disease,” Dr Salama said.

“The PromarkerD test is an important prognostic tool that will substantially advance diagnostic offerings for the diabetic population.”

The licence with Sonic Healthcare lasts five years and is exclusive to the US but can be extended through mutual agreement and will include commercially agreed royalties based on test sales at a price subject to Proteomics.

PIQ shares were up 16.7 per cent and trading at $1.05 at 2:03 pm AEST.

PIQ by the numbers
More From The Market Online
The Market Online Video

ASX Market Close: Consumer Discretionary rises ahead of interest rates decision | June 14, 2024

The ASX200 is down a third of a per cent to close the week. All sectors…
The Market Online Video

ASX Market Update: ASX slips 0.3%, Discretionary is the only sector to rise | 14 June, 2024

The ASX200 is trading down around 0.3%. The discretionary sector has made gains of 0.3%, all…

Week 24 Wrap: US contagion sentiment not so contagious; iron ore remains pressured

It was, overall, a lacklustre week for the ASX. We only saw one green day on…
The Market Online Video

Geology is King: Sun Silver says Maverick Springs will outshine high-grade Australian mines

Sun Silver Ltd (ASX:SS1) is seeking gold, silver and pathfinder elements at their Maverick Springs project…