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Proteomics International (ASX:PIQ) - Managing Director, Dr Richard Lipscombe - The Market Herald
Managing Director, Dr Richard Lipscombe
Source: Proteomics International
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  • Proteomics International Laboratories (PIQ) has received a $1.1 million research and development (R&D) tax incentive for the 2020 financial year
  • Throughout FY20, the company spent $2.62 million on R&D, making it eligible for a rebate of $1,138,815
  • Coupled with the recent $6 million placement, Proteomics is well-funded to continue with the commercialisation of its PromarkerD test
  • PromarkerD is a simple blood test that uses a unique protein 'fingerprint' to detect the onset of diabetic kidney disease up to four years before symptoms appear
  • Proteomics is steady on the market and shares are currently trading for 50.5 cents each

Proteomics International Laboratories (PIQ) has received a $1.1 million research and development (R&D) tax incentive for the 2020 financial year.

Throughout FY20, Proteomics spent $2.62 million on R&D, making it eligible for a rebate of $1,138,815.

Coupled with its recent $6 million share placement, Proteomics is well-funded to continue with the commercialisation of its PromarkerD test.

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

It allows patients to apply preventative measures before kidney damage occurs, leading to better outcomes for the patient and simplified care for physicians.

Clinical studies have shown it correctly predicts 86 per cent of previously disease free patients who went on to develop chronic kidney disease.

There is currently no other test for predicting a patient's risk of developing kidney disease, as the current processes only detect the disease once there has already been damage to the organs.

These processes include a blood or urine test which are not always reliable.

Proteomics is steady on the market and shares are trading for 50.5 cents each at 1:24 pm AEDT.

PIQ by the numbers
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