PromarkerD to be available in Chile in expanded deal with Omics Global Solutions
PromarkerD licence with Omics Global extended to Chile
Perth, Dec 20, 2023 AEST (ABN Newswire) - Proteomics International Laboratories Ltd (
ASX:PIQ) is pleased to announce the signing of a licence agreement to expand PromarkerD's reach in Central and South America.
The deal with long-standing partner Omics Global Solutions (Omics) will see the predictive test for diabetic kidney disease made available in the Republic of Chile, which is home to 1.7 million adults with diabetes.
- Proteomics International has signed a licence agreement for the sale of the PromarkerD predictive test for diabetic kidney disease in Chile
- Deal expands a long-standing partnership with biotechnology company Omics Global Solutions
- In Chile, 1.7 million adults, or 12.7% of the adult population, lives with diabetes
- Omics now targeting other markets in Central and South America
Almost one in eight adults in Chile have diabetes, where the number of people with the condition has risen almost 50 per cent in the past ten years.
Proteomics International Managing Director Dr Richard Lipscombe said it was fantastic to expand the collaboration with Omics. "The company was the first licence partner for PromarkerD (sold as Innovatio ND2), launching the test in Puerto Rico and the Dominican Republic ahead of entry to the United States market. We are delighted to be expanding the relationship with Omics to bring the test to patients in South America."
The licence with Omics Global Solutions is for five years, extendable by mutual agreement, and exclusive to Chile. The licence agreement also includes commercially agreed royalties based on sales of the test, which Omics manufactures under licence. The agreement is also subject to standard terms and conditions (including confidentiality and the parties continuing to comply with their obligations) and warranties typical for a document of its type. As for any novel test, market penetration cannot be reliably predicted, hence for the new market it is not possible to reliably quantify the potential financial impact on Proteomics International in any given timeframe.
The test will initially be targeted at Chile's private payer market. Omics is also targeting expansion into other markets in Central and South America.
Omics General Manager, Luben Ron said the company was delighted to bring the PromarkerD test to more patients in Latin America. "Our vision is to introduce innovative diagnostic products that help health professionals intervene early and save lives," he said. "We are pleased to be working with Proteomics International to improve quality of life for people living with diabetes in Central and South America."
About PromarkerD (www.PromarkerD.com)
Diabetic kidney disease (DKD) is a serious complication arising from diabetes which if unchecked can lead to dialysis or kidney transplant. PromarkerD is a prognostic test that can predict future kidney function decline in patients with type 2 diabetes and no existing DKD. The patented PromarkerD test system uses a simple blood test to detect a unique 'fingerprint' of the early onset of the disease by measuring three serum protein biomarkers, combined with three routinely available conventional clinical variables (age, HDLcholesterol and estimated glomerular filtration rate (eGFR)). A cloud-based algorithm integrates the results into a patient risk report. In clinical studies published in leading journals PromarkerD correctly predicted up to 86% of otherwise healthy diabetics who went on to develop diabetic kidney disease within four years. Further information is available through the PromarkerD web portal.
To visit the PromarkerD virtual booth please see:
https://www.PromarkerD.com/product
About Omics Global Solutions
Omics Global Solutions (OGS) vision is to serve as a platform to develop and commercialise innovative diagnostic products based on the "omics" sciences (proteomics, genomics, etc.) to have an impact on the lives of patients, and medical professionals involved with their treatment. Located in Puerto Rico (USA) it seeks to serve the population of the Latin American and the Caribbean.
About Proteomics International Laboratories Ltd
Proteomics International Laboratories (ASX:PIQ) is a wholly owned subsidiary and trading name of PILL, a medical technology company at the forefront of predictive diagnostics and bioanalytical services. The Company specialises in the area of proteomics - the industrial scale study of the structure and function of proteins. Proteomics International's mission is to improve the quality of lives by the creation and application of innovative tools that enable the improved treatment of disease.
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