US update - PromarkerD licensing negotiations
Perth, Mar 1, 2023 AEST (ABN Newswire) - Proteomics International Laboratories Ltd (ASX:PIQ) advises that it is in the closing stages of finalising the detailed terms of its Exclusive Licence Agreement with Sonic Healthcare USA for use of the Company's PromarkerD predictive test for diabetic kidney disease in the United States.
Proteomics International Managing Director Dr Richard Lipscombe said the relationship between the two organisations continues to strengthen. "Whilst the process of finalising the terms of the Exclusive Licence Agreement has taken the parties past the 28 February expiry date in the binding letter of intent [ASX 31 January], both organisations have already committed substantial resources towards a successful roll-out of PromarkerD across the USA and are still working actively together to achieve this."
The parties signed a binding and exclusive letter of intent in August to enter into an Exclusive Licence Agreement for the PromarkerD predictive test [ASX 9 August]. The Company will update the market once the Exclusive Licence Agreement has been signed.
About Proteomics International Laboratories Ltd
Proteomics International Laboratories (ASX:PIQ) is a wholly owned subsidiary and trading name of PILL, a medical technology company at the forefront of predictive diagnostics and bioanalytical services. The Company specialises in the area of proteomics - the industrial scale study of the structure and function of proteins. Proteomics International's mission is to improve the quality of lives by the creation and application of innovative tools that enable the improved treatment of disease.
Proteomics International Laboratories Ltd