Proteomics International Laboratories Ltd (PIQLF) Receives $2.2m in Research and Development Tax Incentive
Proteomics International Laboratories Ltd (ASX:PIQ) (OTCMKTS:PIQLF) announced that its cash reserves have been further strengthened by the receipt of $2.2 million in research and development tax incentive for the 2024-25 financial year.
Proteomics International's business model sees the Company pursue ground-breaking R&D with blue-sky potential in next generation diagnostic tests using its disruptive Promarker(R) technology platform. This R&D is also supported by revenue generated from providing sophisticated analytical services to the biopharmaceutical and life science industry.
The funding helps to underpin the continued development of the Company's suite of diagnostic tests as they enter their commercialisation phases, along with the advance of Proteomics International's rich pipeline of diagnostics tests in R&D:
- Promarker(R)D - a predictive test for Diabetic Kidney Disease
- Promarker(R)Endo - a diagnostic test for Endometriosis
- Promarker(R)Eso - a diagnostic test for Esophageal Cancer
- OxiDx - a test to measure oxidative stress and track athletic training-related muscle stress
- The Promarker(R) diagnostics pipeline including asthma, COPD and complications of diabetes
In 2024-25, Proteomics International Laboratories Ltd and its subsidiaries spent $5.15 million on R&D, enabling the Company to receive an Australian Government rebate of $2,241,476.
The Federal R&D tax incentive encourages companies engaging in beneficial research to Australia by providing a cash rebate of 43.5% for qualifying activities.
Dr Richard Lipscombe Managing Director Proteomics International Laboratories Ltd T: +61 8 9389 1992 E: enquiries@proteomicsinternational.com Dirk van Dissel Investor Relations and Corporate Advisor Candour Advisory T: +61 408 326 367 E: dirk@candouradvisory.com.au Matthew Wright Media and Public Relations NWR Communications T: +61 451 896 420 E: matt@nwrcommunications.com.au Proteomics International (Europe) Plesmanweg 9, 7602 PD Almelo The Netherlands T: +31 85 40 11 173 E: Europe@PromarkerD.eu
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