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ASX-listed medical technology company, Proteomics International Laboratories' coffers have been further boosted by a $1.1 million research and development tax rebate following a recent successful capital raise of $6 million. The Perth-based company, known for its predictive diagnostic tests, now has approximately $8.5 million in cash reserves including the funds from the share placement and the rebate of $1.13 million from the Australian Taxation Office.

ASX-listed Proteomics International Laboratories has locked away $6m in cash via a heavily oversubscribed placement to UK and local institutions and other sophisticated investors to progress the marketing and development of its ‘PromarkerD' predictive kidney disease test. Euroz-Hartleys Securities Ltd acted as sole lead manager for the placement to new and existing investors and Candour Advisory acted as Corporate Adviser.

ASX-listed medical technology company, Proteomics International Laboratories, has entered into an agreement with Medical Horizons that will see the Italy-based group distribute the easy-to-use immunoassay version of Proteomics' PromarkerD predictive test for diabetic kidney disease in Italy.

ASX-listed Proteomics International has published the findings of a major international, multi-centre clinical study involving more than 3,500 patients which provides the first-ever external support for the efficacy of its PromarkerD diagnostic test. Extraordinarily, patients identified by PromarkerD were 13.5 times more likely to develop Chronic Kidney Disease during a 4-year period.

Novel clinical diagnostics developer, Proteomics International has teamed up with the QMIR Berghofer Medical Research Institute in Queensland to improve and simplify the detection of oesophageal adenocarcinoma, the most common form of oesophageal cancer. Proteomics will use its trademarked Promarker platform with QIMR Berghofer's biomarkers to develop a simple blood test for the cancer, whose incidence is on the rise.

ASX-listed Proteomics International has locked up patent protection throughout much of Asia, Europe and the Americas for its predictive diabetic kidney disease test known as “PromarkerD”. Proteomics said granted patent and trademark protection now covers areas where 59 per cent of the 463 million adults living with diabetes reside after it recently secured patents for Brazil and Canada.

A major clinical study involving 3,000 patients has validated ASX-listed Proteomics' “PromarkerD” predictive test for diabetic kidney disease with the study confirming that PromarkerD has a high probability of predicting a clinical decline in kidney function up to four years in advance of it actually happening. With the major milestone achieved, Proteomics is now looking to commercialise the technology in the USA.

ASX-listed Proteomics International has received a $200,000 boost in funding courtesy of the WA Health Department and the WA Health Translation Network to develop a rapid test for COVID-19 and undertake some ground breaking research into why it attacks some worse than others. Proteomics will make use of its state-of-the-art facilities at the QE11 Medical centre.