Proteomics International Laboratories (ASX:PIQ) is targeting first commercial sales at the calendar year end for PromarkerD, a world leading diagnostic test for diabetic kidney disease.
Sales will be in the Dominican Republic in Latin America as a result of Proteomics’ first licensing deal.
Proteomics sees its market as worldwide and it has patents are now granted in the U.S., Australia, Russia, Singapore and China, covering a potential market size of 153 million adult diabetics.
The company is in discussion with pathology laboratories and diagnostic companies in Australia, Japan and the U.S. for the commercial use of PromarkerD as an in vitro diagnostic device (IVD).
A recent Frost & Sullivan independent report has identified PromarkerD as the world leader with high adoption potential across the Asia Pacific.
PromarkerD
PromarkerD is a predictive diagnostic test for diabetic kidney disease and is patented in both Singapore and China.
Results have shown PromarkerD can correctly predict 95% of the previously kidney disease-free diabetic patients who go on to develop chronic kidney disease.
There is currently no available test for predicting the onset of diabetic kidney disease and Frost &
Sullivan suggests Proteomics is one of only two companies worldwide developing such a test.
Proteomics is rated at the forefront of using proteomics technology for diabetes diagnostics worldwide, and has already been granted patents for PromarkerD in China, Singapore, Russia, Australia and the U.S.
Next steps
Data from Proteomics’ follow-up validation study on the diabetic kidney disease predictive test has been collected and the interpretation of the results is now pending.
Results from this independent study will be presented via forums such as the American Diabetes Association, and released once the peer-review process has been completed appropriately.
For these clinical studies Proteomics continues to work closely with the University of Western Australia Medical School and Fremantle Diabetes Study.
The global opportunity
Worldwide this number is forecast to rise to 642 million people by 2040, and 214 million people are predicted to get chronic kidney disease as a result.
Kidney disease is one of the major complications of diabetes and affects circa one-third of all adult diabetics.
Keeping people alive on dialysis costs more than $100,000 per person per year and globally the diabetes epidemic cost health systems $673 billion dollars in 2015.
PromarkerD provides countries and the world with a potential solution to this costly disease.