Earlier this year VFS offered an opportunity to invest in Proteomics International Laboratories Ltd.
PIQ today announced Ground-breaking Predictive Test for Diagnosis of Diabetic Kidney Disease.The test, called PromarkerD, is the world’s first proteomics-derived predictive test for the condition.
“Proteomics’s predictive test predicted with a high level of accuracy the specific individuals in the 576-patient population who constituted the 10 per cent,” said the Perth based company.
The test can predict which patients with diabetes will progress to have diabetic kidney disease and which people with normal kidney function, as measured by conventional tests, are at risk of developing the disease.
The company said it was in talks with several global pharmaceutical companies about partnering and licensing opportunities to commercialise the test.
The potential global medical benefits and cost savings from PIQ’s predictive test are huge. Diabetes is the fastest growing health issue in the world today and is the largest cause of kidney disease – for example, 35% of adults in the USA with diabetes have chronic kidney disease.
Proteomics International Lab LTD (PIQ.ASX) specialises in the area of proteomics, the study of the structure and function of proteins. It has one central technology that performs protein analysis across three areas — a service business, a diagnostics business and a drug discovery business.
PIQ raised $3.61m in their IPO and listed on the ASX in April at 20c. Shares in PIQ today are up 246.34% closing at 71cents
Prior to listing on the ASX, VFS sat down with Founder and Managing Director Richard Lipscombe who told us about PIQ.
