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Two local tech companies have raised more than $5 million, with medical firm Proteomics International Laboratories securing $3.4 million via the exercise of options.
Proteomics International Laboratories (ASX:PIQ) has some interesting news pending, with the ASX granting the company a trading halt to prepare.
Proteomics International Laboratories (ASX:PIQ) managing director, Richard Lipscombe, joined Proactive's CEO Sessions in Melbourne on Tuesday, 11th April and Sydney on Wednesday, 12th April.
Proteomics International Laboratories (ASX:PIQ) is targeting first commercial sales at the calendar year end for PromarkerD, a world leading diagnostic test for diabetic kidney disease.
Dimerix (ASX:DXB) is a clinical stage biotechnology company, with a focus on Phase II clinical trials for chronic kidney disease.
The company continues on a path to commercialisation as it advances deals with partners in Singapore and China to bring its PromarkerD, which is patented in both countries, to the Asian market.
Southern Gold (ASX:SAU) is an under the radar company producing gold near Kalgoorlie through ore agreements with Westgold Resources (ASX:WGX).
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Proteomics International Laboratories (ASX:PIQ) will advance deals with commercialisation partners in Singapore and China this week to bring PromarkerD to the Asian market.
The directors, who were scaled back in-line with other shareholders, have committed to top up their scale-back by buying shares in the open market.
The halt will remain in place until the opening of trade on Friday 2nd December 2016, or earlier if an announcement is made to the market.
The company has signed a contract with the Monash Antibody Technologies Facility to produce the custom antibodies needed for a multiplex ELISA (Enzyme-linked immunosorbent assay). This assay will be the precursor to a pathology lab in-vitro diagnostic (IVD) test. Proteomics’ shares were last trading at $0.29, up 16% intraday. The deal represents the culmination of a detailed evaluation of global manufacturing options and the required make-up of the kit's components.
Proteomics International Laboratories Ltd (ASX:PIQ) has signed an exclusive licence deal worth US$1.5 million for its PromarkerD assay used for the diagnosis of diabetic kidney disease in the Dominican Republic. PromarkerD is a specialised test that uses the unique make-up of proteins in a person’s blood to provide an early detection of the onset of diabetic kidney disease. The licence granted to Puerto Rico based Omics Global Solution will allow it to manufacture the kits in Puerto Rico and distribute in the Dominican Republic.
Proteomics International Laboratories Ltd (ASX:PIQ) has generated monthly revenues of $100,000 in each of March and April, a 60% uplift on the previous monthly average. Several recent contract wins support ongoing activity. The company’s strategy to expand its analytical services business and in so doing, underpin its cash position. PILL's analytical services generate a regular ongoing revenue stream by providing a fee-for-service offering in life sciences.