Proteomics International Laboratories Ltd (PIQ.AX) PromarkerD US Commercialisation and Promarker Pipeline Update
Proteomics International Laboratories Ltd (ASX:PIQ) continues to work diligently toward a national launch in the United States of America, of PromarkerD, the Company's innovative predictive test for diabetic kidney disease, and also advancing the development of its rich pipeline of diagnostic tests for other chronic diseases.
Proteomics International advises that, based on its latest assessment of the necessary technical and commercial work required to launch PromarkerD in the USA, the USA launch previously planned for Q2 2024, is now likely to be delayed.
The work required to launch a novel test has multiple components and, whilst considerable progress has been made preparing PromarkerD for the US market, the complexities involved in bringing a new test into broad clinical use have meant the process is taking longer than expected.
The Company continues to engage with its USA licensee, Sonic Healthcare USA [ASX 10 May 2023] and will provide further updates to the market, as and when information becomes available.
Significantly, our experience with PromarkerD has provided the Company with invaluable knowledge and experience to accelerate the commercialisation of other tests in development. To this end, the necessary technical work has already commenced to prepare for the commercialisation of PromarkerEndo, the Company's test for endometriosis, and PromarkerEso, the Company's test for oesophageal cancer.
The Company remains focussed on executing further licensing and distribution deals in new jurisdictions for its PromarkerD test and is currently in discussions with a number of parties.
Dr Richard Lipscombe Managing Director Proteomics International Laboratories Ltd T: +61 8 9389 1992 E: enquiries@proteomicsinternational.com Dirk van Dissel Investor Relations & Corporate Advisor Candour Advisory T: +61 408 326 367 E: dirk@candouradvisory.com.au Kyle Moss Corporate Advisor Euroz Hartleys T: +61 8 9488 1400 E: kmoss@eurozhartleys.com Lisa Barnes Public Relations Profile Media T: +61 416 583 672 E: lisab@profilemedia.com.au
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