News and Announcements
Proteomics Gaining Strong Traction in Analytical Services
- Published May 20, 2016 1:27PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
20th May 2016, ASX Announcement
- PILL 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 underscore ongoing activity.
- Growth driven by biosimilars (generic protein drug) market as the sector seeks to replicate the multiple billion dollar blockbuster biopharmaceutical drugs that are coming off patent.
- PILL has one of the few global ISO 17025 laboratories accredited to accurately analyse the make-up of biosimilar drugs as being like-for-like with the brand-name drugs they seek to replace.
- Present growth substantiates business model as PILL seeks to become cash flow positive.
Life sciences company Proteomics International Laboratories Ltd (ASX: PIQ) (the Company, PILL) is pleased to provide the following update on the growth of its analytical services operations.
PILL’s analytical services generate a regular ongoing revenue stream by providing a fee-for-service offering in proteomics, protein characterisation, biosimilars and biomarker diversity.
To view the full announcement, please click on the button below.
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