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Proteomics International Laboratories (ASX:PIQ) - Managing Director, Dr Richard Lipscombe - The Market Herald
Managing Director, Dr Richard Lipscombe
Source: Proteomics
  • Proteomics International (PIQ) has entered a trading halt pending an upcoming capital raising
  • The company will remain in the halt until the earlier of October 23 or when an announcement is made
  • Last week Proteomics signed a licensing agreement with Medical Horizons SRL to see its PromarkerD diabetic kidney disease test be launched in Italy
  • PromarkerD is a simple blood test that uses a unique protein 'fingerprint' to detect diabetic kidney disease up to four years before symptoms appear
  • While Proteomics will receive payment for each test kit sold, the exact amount hasn't be released as it is deemed to be commercially sensitive
  • Medical Horizons will now complete registration of PromarkerD with the Italian Ministry of Health which will allow the device to be sold in the country once completed
  • Shares in Proteomics last traded for 55 cents on October 20

Proteomics International (PIQ) has entered a trading halt pending an upcoming capital raising.

The company will remain in the halt until the earlier of October 23 or when an announcement is made.

At this point Proteomics is yet to disclose how much it will be raising or what the funds will be used for.

Just last week the company signed a distribution licensing agreement with Medical Horizons SRL to see its PromarkerD diabetic kidney disease test be launched in Italy.

PromarkerD is a simple, low-cost blood test that uses a unique protein 'fingerprint' to detect the onset of diabetic kidney disease up to four years before symptoms appear.

Chronic kidney disease is one of the main and most serious complications arising from diabetes and if unchecked it can lead to dialysis or a kidney transplant.

While Proteomics will receive payment for each test kit sold, the exact amount hasn't be released as it is deemed to be commercially sensitive.

Medical Horizons will now complete registration of PromarkerD with the Italian Ministry of Health.

This is expected to take one month and, once completed, the test will officially be able to be sold in Italy.

Shares in Proteomics last traded for 55 cents on October 20.


Find out more about this capital raise


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