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Precision diagnostics company Proteomics International Laboratories Ltd (ASX:PIQ) has been granted a patent in Australia for its OxiDx test.
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OxiDx is designed to detect oxidative stress via a fingerprick blood sample, which is attracting interest from a range of sectors – including sports analytics and horse racing.
The Australian patent – which has been secured by PIQ subsidiary OxiDx Pty Ltd – lasts until 2039 and will add to the company’s property protection for this technology in the United States, Japan, and Europe.
PIQ now aims to launch the test in Oz before expanding to the U.S., with commercialisation efforts bolstered by ongoing validation studies in athletes and racehorses.
The significance of oxidative stress is its link to more than 70 health conditions, including muscle injuries – responsible for up to 55% of sports injuries and costing upwards of $1.2 billion in treatments in Australia alone. It occurs when an excess of toxic oxidants or free radicals overwhelm antioxidant defences.
Managing director Dr Richard Lipscombe declared gaining the new patent means property protection for the test would be extended within that country.
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“We now have broad, long-term protection for the technology which greatly strengthens its
commercial value,” he said. “The OxiDx test is attracting wide-ranging interest – from sports shoe companies to horse trainers, and we are looking forward to bringing it to market in the coming months.”
PIQ moved up following the news, gaining 4.12% to sell at 50.5cps.
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