Proteomics International (ASX:PIQ) - Managing Director, Dr Richard Lipscombe
Managing Director, Dr Richard Lipscombe
Source: Proteomics International
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  • Proteomics International (PIQ) completes the “pre-assessment” phase of its application to have PromarkerD included on the Australian Medicare Benefit Schedule (MBS)
  • PromarkerD is the world’s first predictive diagnostic test for diabetic kidney disease
  • Inclusion on the MBS would allow eligible patients to receive a medicare rebate for the test
  • The company will now submit a full application, which will be evaluated by a second sub-committee and the full Medical Services Advisory Committee (MSAC)
  • Shares closed 7.46 per cent lower today at $1.24 each

Proteomics International (PIQ) has completed the “pre-assessment” phase of its application to have PromarkerD included on the Australian Medicare Benefit Schedule (MBS).

PromarkerD is the world’s first predictive diagnostic test for diabetic kidney disease.

Inclusion on the MBS would allow eligible patients to receive a medicare rebate for the test.

The pre-assessment phase includes a systematic review of clinical evidence and practice, an economic evaluation, and the proposed item descriptor and fee by a specialist sub-committee.

The company will now submit a full application, which will be evaluated by a second sub-committee and the full Medical Services Advisory Committee (MSAC).

The MSAC is expected to meet in November this year to consider the proposal at which point it will either recommend, defer, or reject the test for listing.

The company is also currently pursuing Therapeutic Goods Administration (TGA) approval for the test.

Managing Director Dr Richard Lipscombe said he is hopeful the test will be included on the MBS.

“If MSAC recommendation is secured, it will be a key milestone in commercialising PromarkerD in Australia,” he said.

“It means eligible patients are likely to receive Medicare rebate for the test.”

Shares closed 7.46 per cent lower today at $1.24 each.

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