Proteomics International Laboratories (ASX:PIQ) shares have soared in trade today after the company was granted a U.S. patent for its PromarkerD Diagnostic Test for the early diagnosis of diabetic kidney disease (DKD).
The patent is a critical milestone in the development of the Diagnostic Test for Diabetic Kidney Disease in the world’s largest health care market.
The patent provides protection as both a predictive and diagnostic test in the United States.
The test was developed from the company’s world-leading proprietary proteomics-based technology platform.
It uses protein biomarkers found in the blood to provide an early and accurate detection of the presence of disease.
The market opportunity is vast, and the ability accurately detect the early onset of DKD via a simple blood test and then prescribe appropriate treatment could save health care systems globally $100's of millions annually.
Dr Richard Lipscombe, managing director, commented:
“We are delighted to have this protein based patent granted in the U.S. in such a challenging diagnostic patent environment.”
The grant of this patent is particularly significant, as there is an increasing level of stringency being applied to diagnostic patent applications.
The Australian High Court has determined that DNA sequences can no longer be patented, which follows an earlier finding by U.S. Federal Courts.
Patent details
The patent provides protection for the use of PromarkerD as both a predictive (prognostic) and diagnostic test in the U.S., and is valid until 20 September 2031.
The patent is entitled, “Method of assessing diabetic nephropathy using CD5 antigen-like” (patent number: US 9,146,243 B2).
Australian patent also granted
The company is pleased to confirm that its Australian patent for PromarkerD, entitled “Biomarkers associated with pre-diabetes, diabetes and diabetes related conditions” (Australian Patent Application 2011305050) granted on the 3rd September.
This patent is also valid until September 2031.
The company is also seeking patent protection for PromarkerD in other major global markets including Europe, China and India, and will advise further on these in due course.
Key catalysts
This represents considerable progress with a protein based patent granted in the USA in such a challenging diagnostic patent environment. Shares have soared since October for good reason.
Potential key catalysts ahead include agreements with partners, which could then lead to licensing and commercialisation.
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