Total
0
Shares
Proteomics International (ASX:PIQ) - Managing Director, Richard Lipscombe
Managing Director, Richard Lipscombe
Source: Proteomics International
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Proteomics International (PIQ) has received $200,000 in COVID-19-related research grants from the Western Australian government
  • The money has been granted in two endowments for the diagnosis and triage of COVID-19 patients
  • With faster, more efficient diagnostic and treatment tools, it is believed Australia will be able to open up its state and international borders sooner, helping the country’s post-pandemic recovery
  • If either or both tests are successful and approved for market, Proteomics could save a number of lives, make communities safer, and possibly make a fair bit of money along the way
  • Proteomics International is down three per cent today to a price of 32 cents per share

Predictive diagnostics researcher Proteomics International (PIQ) has received $200,000 in COVID-19-related research grants from the Western Australian government.

The money has been granted across two endowments: firstly, in relation to PIQ’s research to develop a rapid diagnostic test for the identification of the virus; and secondly, to isolate biomarkers that may be indicators for the severity of the infection.

Both projects are to be completed in the next 12 months or less and are aimed at the improved diagnosis and treatment of COVID-19 patients.

With faster, more efficient diagnostic and treatment tools, it is believed Australia will be able to open up its state and international borders sooner, helping the country’s post-pandemic recovery.

The tests

While both tests are aimed at faster diagnosis of COVID-19, each takes a different approach, with different outcomes in mind.

The rapid diagnostic test is aimed at producing a reliable result without invasive sinus swab tests. Saliva will be used instead, providing the potential for faster results and far less patient discomfort.

Universal, rapid, non-invasive testing could enable asymptomatic carriers to be quickly diagnosed and isolated, enabling authorities to safely reopen sooner while the pandemic is still potentially active within a populace.

The protein biomarker test will be aimed at testing, which may reveal the potential severity of the patient’s case.

While most people are either asymptomatic or suffer only mild symptoms of the virus, 14 per cent of infections are severe and require oxygen, while six per cent are life-threatening and require ventilation.

PIQ will aim to develop a test which picks up the biomarkers associated with the severity of the infection, which will enable the rapid triage of those testing positive, potentially before severe symptoms develop.

If either or both tests are successful and approved for market, Proteomics could save a number of lives, make communities safer, and possibly make a fair bit of money along the way.

Proteomics International is down three per cent today to a price of 32 cents per share as at 3:05 pm AEST.

PIQ by the numbers
More From The Market Herald
Dimerix (ASX:DXB) - Managing Director and CEO, Nina Webster

" Dimerix (ASX:DXB) expands DMX-200 study into Australia

Dimerix (DXB) has entered an agreement with the NHMRC Clinical Trials Centre at the University of Sydney to expand the CLARITY 2.

" ACCC scrambles to halt Virtus Health’s (ASX:VRT) purchase of Healius (ASX:HLS) IVF clinics

The ACCC has taken “a significant step” as it seeks an urgent injunction to stop Virtus Health’s (VRT) proposed acquisition of Adora Fertility
IDT Australia (ASX:IDT) - Chair, Alan Fisher

" IDT Australia (ASX:IDT) signs manufacturing deal with Monash University

IDT Australia (IDT) has entered a master services agreement and services order with Monash University.
Prescient Therapeutics (PTX) - CEO and MD, Steven Yatomi Clarke

" Prescient Therapeutics (ASX:PTX) to present new OmniCAR data at conference

Prescient Therapeutics (PTX) will present new results for its OmniCAR drug at the Cell & Gene Meeting on Mesa in California.