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Pharma & Biotech

Proteomics International Laboratories Ltd reaches milestone for test kit

Proteomics International Laboratories Ltd (ASX:PIQ) has reached a strategic milestone in its commercialisation pathway for PromarkerD, a predictive test kit for diabetic kidney disease.

The company has signed a contract with the Monash Antibody Technologies Facility to produce the custom antibodies needed for a multiplex ELISA (Enzyme-linked immunosorbent assay).

This assay will be the precursor to a pathology lab in-vitro diagnostic (IVD) test.

Proteomics’ shares were last trading at $0.29, up 16% intraday.

The deal represents the culmination of a detailed evaluation of global manufacturing options and the required make-up of the kit's components.

This follows the successful manufacture of synthetic analogues of the biomarkers that make up the protein 'fingerprints' used to diagnose disease.

In August, the company signed an exclusive licence deal worth US$1.5 million for the PromarkerD assay in the Dominican Republic.

Last month, Proteomics edged out shipbuilding giant Austal and Fortescue Metals Group to win the Western Australia Exporter of the Year Award.

In undertaking the development pathway for PromarkerD as an IVD test kit, Proteomics now has multiple commercialisation pathways for PromarkerD as a Laboratory Developed Test (LDT), standard clinical pathology IVD test and Companion Diagnostic (CDx).

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