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Proteomics International Laboratories Ltd FY15 Company Update
- Published January 29, 2015 12:58PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Proteomics International Laboratories Ltd (ASX proposed: PIQ) is completing its IPO to raise $4 million to expand its existing operations.
PILL is finalising contracts with a major Chinese drug and diagnostic development company to commercialise its test for the early diagnosis of Diabetic Kidney Disease. This builds upon an earlier agreement with a global top 5 CRO to provide analytical services to the rapidly growing biosimilars sector.
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ABOUT PROTEOMICS INTERNATIONAL LABORATORIES
Proteomics International Laboratories Ltd (PILL) is an innovative biological research and drug discovery company specialising in the development of simple diagnostic tests for common diseases and the discovery of new therapeutic drugs to treat pain and infection. The Company, based in Perth, Western Australia, works across three units – diagnostics, therapeutics and analytical services.
The Company now seeks additional funding of $6 million to expand each business unit and accelerate commercialisation. It focuses on utilising the funds raised to commercialise the already-developed IP, and implement a measured programme for further compound discovery, whilst expanding existing revenues to underpin future efforts.
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