Proteomics banks $4.5M to fast-track novel diagnostic test launches
Medical innovator Proteomics International Laboratories is charging into selling mode after locking away $4.5 million from institutional and sophisticated investors to fast-track the roll-out of its novel Promarker diagnostic tests across Australia and the United States.
The Perth-based biotech is known for its pioneering work in predictive diagnostics through the large-scale study of proteins.
Its new funds will propel the launch of three first-in-class blood tests, the PromarkerD for diabetic kidney disease, PromarkerEso for oesophageal cancer and PromarkerEndo for endometriosis.
The placement was priced at 37 cents per share with one free-attaching option for every two shares and was snapped up at a nearly 18 per cent discount on the company's recent trading price.
Directors and key management also jumped on board, pledging a further $500,000 subject to shareholder approval. A $1M share purchase plan is also on the table, giving existing investors a shot at the action.
'The funds will drive the US and Australian launch of our suite of diagnostic tests.'
Proteomics International Laboratories managing director Dr Richard Lipscombe
The first-of-its-kind PromarkerD predictive blood test can detect the likely risk of a diabetic patient developing chronic kidney disease up to four years before symptoms appear. It is now being rolled out in the US.
PromarkerEso tackles a notoriously difficult-to-detect cancer by picking up those patients at risk because of chronic acid reflux. Trials have shown the test has a remarkable 94 per cent accuracy in diagnosing oesophageal cancer in patients. The test is now ready for public sale.
Proteomics is also set to launch PromarkerEndo for early endometriosis detection between June and September this year when patents are locked in across all the major markets. The test offers a simple blood test for a condition that is currently chronically underserviced and can take an average of seven years to diagnose.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Perth Now
an hour ago
- Perth Now
500 jobs axed in major Jetstar move
Qantas has announced it will close Jetstar Asia, its Singapore-based budget airline after two decades in the air, as it looks to focus on the domestic market. In an announcement to the ASX Qantas said the closure of Jetstar Asia will enable the airline to recycle up to $500m in capital and support its fleet renewal program. The airline said it would redirect 13 Jetstar Asia Airbus A320 aircraft to be progressively redeployed to Australia and New Zealand, adding 100 local jobs in the process. The decision will have zero impact to all of Jetstar and Jetstar Japan's flying into Asia. None of the highly popular routes they operate into Indonesia, Vietnam, Japan, Singapore are affected. The restructure could see up to 500 jobs axed from its Singapore operation. A statement to the ASX said employees of Jetstar Asia would be provided with redundancy benefits and employment support services, and Qantas was working to find job opportunities elsewhere in the group or with other airlines in the region. Qantas announces it is axing its Jetstar Asia flights. NewsWire / Luis Enrique Ascui Credit: News Corp Australia The airline said the closure would have a cost of approximately $175m due to one-off redundancy and restructuring costs with the first third coming this financial year, with the rest coming in 2026. Qantas Group CEO Vanessa Hudson said Jetstar Asia has been a pioneering force in the Asian aviation market for more than 20 years, making air travel accessible to millions of customers across Southeast Asia. 'We are incredibly proud of the Jetstar Asia team and the work they have done to deliver low fares, strong operational performance and exceptional customer service. This is a very tough day for them. Despite their best efforts, we have seen some of Jetstar Asia's supplier costs increase by up to 200 per cent, which has materially changed its cost base.' Qantas chief executive Vanessa Hudson thanked the Jetstar Asia crew. Qantas/NewsWire Credit: Supplied 'I want to sincerely thank and acknowledge our incredible Jetstar Asia team who should be very proud of the impact they have had on aviation in the region over the past two decades.' Qantas said the closure came after a deterioration in Jetstar Asia's earnings, with the airline facing strong competition from AirAsia and Singapore's own national carrier. Qantas said it expected the subsidiary to post an underlying earnings loss of $25 million in the six months to June 30.
7NEWS
3 hours ago
- 7NEWS
Best dentist-approved teeth straightening treatment that is surprisingly affordable: Urban Smile
It's official, straightening your teeth just got a glow-up. Say goodbye to awkward metal braces and waiting months for an orthodontist appointment. There's a new name in town shaking up smiles, and you'll find it on your local high street. Urban Smile is the brainchild of Melbourne-based Specialist Orthodontists Dr Igor Lavrin and Dr Sarah Lawrence, who between them have over 40 years of experience and credentials from Harvard, Melbourne and Otago universities. They're ditching the traditional clinic feel for bright, modern studios that feel more like your fave skincare boutique than your average dentist's office. And the big idea? Making professional, orthodontist-designed clear aligners more affordable, accessible and way more convenient, all without compromising on care. What makes Urban Smile different? First off, every smile plan at Urban Smile is created by a Specialist Orthodontist, not a general dentist. That's important, because while your dentist is great for cleans and fillings, orthodontists go through an extra three years of training to specialise in bite correction and teeth straightening. Urban Smile patients won't meet the orthodontist in person, but they'll still be guided through treatment remotely and that's exactly how the prices stay so affordable. On average, their aligner treatment is 25 per cent cheaper than traditional orthodontics. Oh, and consultations? They're completely free. You'll get a full set of X-rays, 3D scans (no gooey moulds here), and detailed photos, all done in-studio. The specialist team then creates a fully personalised plan using a mix of high-tech tools and decades of experience. How do clear aligners work? If you've never used aligners before, think of them like a nearly invisible, removable version of braces. You'll wear each set of trays for around a week at a time, for 20 to 22 hours per day. The best part? No food restrictions. You simply pop them out before eating, then put them back in after a quick rinse or brush. From overbites and gaps to crowding or ' snaggle' teeth, these custom-made trays gradually move your teeth into their new, straighter positions using gentle, targeted pressure. Urban Smile offers three treatment types, Lite, Moderate or Advanced, selected by your orthodontist based on what your teeth need. Plans also include advanced attachments (to help with more complex movement), IPR (that's a fancy term for creating a bit of space between teeth when needed), bite correction, a take-home whitening kit and even an aftercare retainer. High-tech, high-convenience The big game-changer? Everything's monitored remotely. Each week, you'll scan your smile using the Dental Monitoring app on your phone. You'll get a ping when it's time to scan, and the clinical team checks your progress and lets you know when to move to the next set. If you've got questions, just message them in the app. Why it matters Urban Smile was launched in 2022 after Dr Lavrin and Dr Lawrence grew increasingly concerned about patients arriving at their Collins Street practice needing corrective treatment after using cheap online aligners. Most had gone without X-rays, professional oversight or any clue if their teeth were even healthy enough to move safely. Some were left with poor results, or worse, damage that needed urgent repair. That's why Urban Smile exists. It bridges the gap between online convenience and professional care. It gives you the expertise of a specialist, without the hefty price tag or hassle of regular in-person appointments.
Perth Now
4 hours ago
- Perth Now
Retailers fined for dodgy Black Friday sales
Three major Australian retailers have been fined for dodgy Black Friday sales. Jeweller Michael Hill, homewares retailer Global Retail Brands Australia, and Hairhouse Online have each paid a $19,800 fine following infringement notices from the Australian Competition and Consumer Commission (ACCC), the regulator says. Paying fines does not amount to an admission of breaking the Australian Consumer Law. The consumer watchdog issued the infringement notices after finding the retailers were selling non-discounted items despite their website homepages spruiking 'sitewide' sales or sales on 'everything'. The discrepancies were found during a sweep the ACCC did of Black Friday sales, the period at the end of November where retailers typically have large discounts. Black Friday sales in Australia have extended to the whole of November, not just the end of the month. NewsWire / Luis Enrique Ascui Credit: News Corp Australia 'Businesses that make false discount claims not only risk misleading consumers, they also compete unfairly against other businesses which correctly state the nature of their sales,' ACCC deputy chair Catriona Lowe said. ACCC analysis shows that while Michael Hill had a prominent banner on its homepage promoting a 'member event' 25 per cent off sitewide sale, some items were not discounted. 'Michael Hill's statement may have misled consumers, and contravened the Australian Consumer Law, because some of the products in its online store were not part of the sale and were not discounted,' Ms Lowe said. Global Retail Brands Australia owns MyHouse, which has 28 physical stores in Australia, plus a range of similar homewares businesses. Splashed across the MyHouse e-store late last year was an ad saying 'everything' was subject to a Black Friday sale with discounts up to 60 per cent. The ad also promised an 'extra' 20 per cent off. 'We say this was misleading because the extra 20 per cent discount was not available on all of its products,' Ms Lowe said. 'Retailers need to ensure that their advertising makes it clear to consumers which products are discounted and by how much.' Hairhouse Online promised 20 to 50 per cent off 'sitewide' for Black Friday sales. More than one-quarter of items on the site were not discounted at all, the ACCC says. The haircare retailer is owned by Melbourne-based The Hairhouse Warehouse. Australians spent about $7bn on the Black Friday sales in 2024. NewsWire has contacted the three companies for comment.
