Proteomics International – Pioneering Diagnostic Solutions for Chronic Diseases
Founded in Western Australia in 2001, Proteomics International (ASX: PIQ) is a medical technology company at the forefront of predictive diagnostics, pharmacokinetic and bio-analytical services. The company is recognised as a specialist in the area of proteomics – the industrial-scale study of structure and function of proteins.
Proteomics International’s aim is to use its expertise in proteins to develop and commercialise diagnostic tests for chronic diseases where there is unmet medical need and include diabetic kidney disease (DKD), endometriosis and oesophageal cancer.
It was one of three companies selected (two of which were from WA) in 2021 to receive funding in Round Four of the BioMedTech Horizons (BMTH) program, an initiative of the Medical Research Future Fund (MRFF) delivered by MTPConnect, aiming to accelerate the development of innovative health technologies. Proteomics International was funded to develop and commercialise its PromarkerD diagnostic, a groundbreaking blood test that can predict the onset of diabetic kidney disease (DKD) up to four years before clinical symptoms appear.
Notably, an estimated 11 percent of the American population live with diabetes, and 1 in 3 currently have DKD which is a serious complication of diabetes. Kidney damage, which often goes unnoticed, is irreversible and if left unchecked, leads to kidney failure, necessitating dialysis or kidney transplant. Therefore, early detection is critical for patients to enable early management and treatment.
Charting the progress of developing a medtech product
PromarkerD is a first-in-class predictive test for DKD and will have a substantial impact on clinical outcomes for diabetic patients and the healthcare system. The test has been registered in the EU and the company has filed a submission with the Australian Therapeutic Goods Administration. This is the company’s flagship product, paving the way for the other diagnostics coming through their pipeline.
In 2021, Proteomics International was one of five WA-based companies awarded a total pool of $450,000 through the Hub’s MTP Manufacturing Voucher program. This initiative injected over $1 million into WA’s medical technology, biotechnology, and pharmaceutical sector, promoting job creation and economic growth. Proteomics International is using these funds to develop WA-based manufacturing capabilities for some components of PromarkerD.
In May 2023, Proteomics International achieved a significant milestone by signing an exclusive license agreement with Sonic Healthcare USA for the use and commercialisation of PromarkerD in the United States.
Support from WA Life Sciences Innovation Hub
Since the WA Life Sciences Innovation Hub was established in 2018, it has been actively engaged with Proteomics International. Proteomics International joined MTPConnect’s delegation at the 2018 MedTech Conference in Boston, and the Australian delegation to BIO in Philadelphia in 2019 and Boston in 2023. Additionally, the company was among the 22 organisations featured at the Life Sciences WA booth during AusBiotech 2022 in Perth. The booth, supported by the Hub, the Government of Western Australia, and Business events Perth, showcased the thriving WA MTP sector to over 1,000 conference delegates.
In 2021, Founder and Managing Director, Dr Richard Lipscombe was a guest speaker at the WA MTP Sector Spotlight series, sharing insights on developing a medtech product within Australia's R&D framework and successfully raising investment. The series began in February 2021 and has since hosted 23 events, highlighting successful WA organisations and their leaders. By promoting these events through MTPConnect's national network and media channels, it has helped to raise the profile of WA companies across the country.
WA Proteomics Facility Expands
In October 2022, a significant development was announced for WA’s precision diagnostic capabilities with a $2 million expansion of the WA Proteomics Facility, a public-private partnership with BioPlatforms Australia and jointly managed by Proteomics International and the University of Western Australia. The state-of-the-art facilities expansion includes increased capacity and throughput, incorporating new automated sample handling equipment and analytical instruments, and development of advanced data processing capabilities. The facility will accelerate precision diagnostic test development and facilitate research into biological markers across medicine, agriculture, and the environment.
Proteomics International is positioned to become a leading medical technology company through the commercialisation of its flagship product, PromarkerD and its rich pipeline of diagnostics for chronic diseases. By building local manufacturing capability and achieving recent milestones, strategic partnerships, licensing agreements and funding support, Proteomics International is committed to revolutionising healthcare outcomes, fostering innovation and bringing hope for patients worldwide through its predictive diagnostics and bio-analytical services.