Proteomics International appoints medical devices sales agency Growth Medics to further European expansion
Proteomics appoints medical devices sales agency for Europe
Perth, June 17, 2024 AEST (ABN Newswire) - Proteomics International Laboratories Ltd (
ASX:PIQ), a pioneer in predictive diagnostics is pleased to announce it has engaged the medical device sales agency, Growth Medics B.V., to assist with the identification and selection of EU alliance partners for its PromarkerD predictive test for diabetic kidney disease.
- Proteomics International engages the sales agency Growth Medics B.V. to recruit and manage new partners and customers for PromarkerD in Europe
- Growth Medics has a proven track record assisting medical device and diagnostic companies achieve market penetration, and the digital marketing experience required for Proteomics International's global go-to-market strategy
- Growth Medics are engaged on market standard terms including commission for achieving successful revenue generating partnerships for Proteomics International
- Across Europe there are over 61 million adults with type 2 diabetes, leading to healthcare costs across the region of EUR176 billion for diabetes and its complications
Growth Medics B.V., will assist in the identification, recruitment and management of new partners and customers in Europe. Growth Medics are an international medical device sales accelerator and have a proven track record assisting medical device and diagnostic companies achieve market penetration, and the digital marketing experience required for Proteomics International's global go-to-market strategy.
Growth Medics will also provide business development, marketing and administrative support for Proteomics International and PromarkerD from their office in the Netherlands. Their role will extend to attending trade shows on behalf of Proteomics International, customer service and training. Growth Medics will initially target new licensing and sales opportunities in the Netherlands, Belgium, Italy and Spain.
Diabetes is a 'silent pandemic' and one of the major health challenges of our generation. Diabetic kidney disease (DKD) is a serious complication arising from diabetes which can lead to other health issues such as high blood pressure, heart disease, and ultimately kidney failure. There are 61 million people in Europe living with diabetes . The total expenditure in the European region on the advanced treatment of diabetes and its complications was EUR176 billion (19.6% of global expenditure) in 2021.
Proteomics International Managing Director Dr Richard Lipscombe said, "We believe Growth Medics is an ideal partner to drive the commercialisation of PromarkerD through Europe due to their extensive market knowledge, proven track record, regulatory expertise, and strong relationships with key stakeholders. Their multilingual and multicultural capabilities ensure targeted sales and marketing strategies. This is a material development in our expansion strategy for PromarkerD across the diverse European market.
Growth Medics are engaged on market standard fee-for-service terms, including commission for achieving successful revenue generating partnerships for Proteomics International to sell the PromarkerD test. Under the agreement Proteomics International will not appoint any similar sales agency for the Netherlands, Belgium, Italy and Spain. The engagement is for two years and is extendable for additional periods of three months by mutual agreement. Both parties have the right to terminate the engagement with six weeks' notice upon the breach of any material terms of the engagement. The engagement is also subject to the standard terms, conditions, and warranties typical of an agreement of this type.
Growth Medics' Managing Director Emre Aykac said, "With our expertise in the IVD [in vitro diagnostics] industry, we are excited to embark on this journey with Proteomics International to develop selected markets for PromarkerD in Europe and make this innovative solution accessible to patients. By predicting DKD up to four years in advance, our alliance aims to implement preventative measures that can save lives and improve the quality of care for patients across Europe."
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, HDL cholesterol 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.
The PromarkerD test is CE Mark registered in the European Union. To visit the PromarkerD virtual booth please see: https://www.PromarkerD.com/product
About GrowthMedics (www.growthmedics.com)
Growth Medics (Almelo, Netherlands) is an ISO 13485 certified market development provider serving worldwide medical device companies with their international sales expansion in European and Middle Eastern Healthcare markets. Growth Medics mission is to make worldwide medical device companies reach their international growth objectives and unlock their full sales potential in European, Middle Eastern and North African healthcare markets.
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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