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 its granted patent and trademark protection now covers areas where 59 per cent of the 463 million adults living with diabetes reside around the globe, based on estimates provided by the International Diabetes Federation after it recently secured patents for Brazil and Canada.
The Federation also claimed one in three adults afflicted by diabetes were likely to develop diabetic kidney disease, an ailment that Proteomics’ technology can predict in advance of it happening.
The company recently completed clinical studies involving 3,000 patients validating its PromarkerD test as an effective and low-cost predictive tool in the fight against the disease.
Proteomics says it is able to validate PromarkerD as an effective, high-throughput, predictive test for the decline in kidney function up to four years in advance of it actually happening and this week’s patent protection will effectively prevent others from replicating its technology in key markets.
Management said the significant milestone of patent protection over much of the world will help Proteomics in its strategy to commercialise the PromarkerD technology in the USA and across the globe.
Early detection of diabetic kidney disease could help prevent the need for renal replacement therapies, potentially saving global healthcare systems billions of dollars annually. The company said the annual cost of diabetic kidney disease is estimated at US$50 billion per year in the USA alone.
Proteomics International Managing Director Dr Richard Lipscombe said: “Being able to correctly predict an early decline in kidney function in these people means that doctors and patients can take action to prevent patients going on to costly dialysis and eventual kidney transplant.”
The company’s PromarkerD patent portfolio now covers much of the Americas, including the USA, Canada and Brazil where almost 50 million diabetes patients will benefit from an affordable test, according to management. Patent protection also covers much of Europe and Russia, plus a big chunk of Asia, including Australia, China, Indonesia, Singapore and Japan.
To further strengthen its global IP position, Proteomics said it had registered PromarkerTM as a trademark in multiple target markets. The company said trademark protection has the potential to extend the lifespan of future revenue streams beyond the expiry of Proteomics’ patents.
Whilst it appears the global patent and trademark protection is well advanced, Proteomics has not forgotten the third ‘plank’ of its IP protection, namely its PromarkerD test system Trade Secrets.
The company said its Trade Secrets cover both the PromarkerD Hub, a software algorithm, and the key antibody reagents used in the manufacture of the PromarkerD immunoassay. The PromarkerD immunoassay requires specialist reagents, or antibodies used to detect the biomarkers, which the Company said it has produced and owns the sole rights to the use of them.
Proteomics said the PromarkerD Hub enables the results of the proprietary PromarkerD algorithm to be delivered to its partners around the world, via a remote server with an additional layer of intellectual property security.
Having climbed the IP mountain, the focus now for Proteomics is firmly set on revenue generation, with the company suggesting an indicative test price of between US$55-$150 per patient and royalties of between 5 per cent and 15 per cent being touted by the company as industry standards for “out-licensing” its intellectual property.
Is your ASX listed company doing something interesting ? Contact : matt.birney@businessnews.com.au
By Matt Birney
