12% of global health expenditure is spent on diabetes. That equates to approximately USD $673 billion. Scarily, 1 in 2 adults with diabetes is undiagnosed.
Diabetic kidney disease (DKD) is directly caused by diabetes, and the damage the disease does to the kidneys. It is estimated that 1 in 3 diabetics will go on to develop DKD. Left unchecked, DKD can lead to dialysis or kidney transplant.
DKD is a silent disease, with most sufferers unaware due to the lack of symptoms. Current standard of care tests involve blood and urine analysis to check for indications of disease.
Proteomics International Laboratories (ASX: PIQ) have developed PromarkerD, the world’s first predictive diagnostic test specifically for DKD. The test analyses the patient’s blood for three specific biomarkers that indicate the early onset of DKD. The test also takes into consideration the patient’s age, HDL-cholesterol levels and glomerular filtration rate (kidney function). PIQ’s proprietary algorithm analyses these data points and delivers a patient risk report. The test has been clinically validated with studies published in multiple leading journals confirming that it can predict DKD disease up to 4 years in advance. The test is also CE Mark registered in Europe.
Protecting their intellectual property, PromarkerD has patented their tech in multiple jurisdictions. The Company has today announced that they’ve added India to that list, where more than 74 million people live with diabetes. As the second largest diabetic population in the world (China is the largest), PIQ already has a strong existing footprint.
The patent complements others already held by the Company, who’s intellectual property portfolio now covers 63% of the world’s population living with diabetes.
Dr Richard Lipscombe, Managing Director of PIQ said: “Proteomics International has strong ties to India, having operated in the country since 2004. We’ve also taken part in multiple trade visits to India, connecting with the huge Indian biotechnology and pharma sectors.
“PromarkerD can help prevent the need for renal replacement therapies such as dialysis and kidney transplant, potentially saving global healthcare systems billions of dollars a year.”
The test is yet to be FDA approved with the regulatory body advising a De Novo classification pathway to approval.
PIQ’s share price has jumped 3.57% just one hour after market open. The Company rounded out the December quarter with $4.5 million cash at hand.