Sharecafe

Proteomics International Secures $4.5M Placement

Thumbnail
Funds to drive commercial launch of Promarker diagnostic tests in US, Australia.

Proteomics International (ASX: PIQ) has announced a successful A$4.5 million placement to institutional and sophisticated investors. The company secured binding commitments for the placement and expects to raise an additional A$1 million through a Share Purchase Plan (SPP) offered to eligible shareholders. Directors and Key Management Personnel will also subscribe for $0.5 million, subject to shareholder approval.

The funds will be used to facilitate the commercial launch of Proteomics International’s suite of diagnostic tests, including PromarkerD for diabetic kidney disease, PromarkerEso for esophageal cancer, and PromarkerEndo for endometriosis, in the United States and Australia. The placement was priced at $0.37 per new share, a 17.9% discount to the 15-day volume weighted average price and a 16.9% discount to the last traded price on April 16, 2025. The new shares will include 1 free attaching option for every 2 new shares issued, exercisable at $0.50 until May 31, 2026.

According to Managing Director Dr. Richard Lipscombe, the placement was strongly supported by key existing institutional shareholders and new investors. The company is strategically positioned to secure licensing agreements and is targeting initially the US and Australian markets, with the EU and other jurisdictions to follow.

The company plans to utilize the raised capital for several key initiatives, including launching the Promarker tests in Australia and the USA, upgrading systems to provide clinical diagnostic tests in Australia, establishing laboratory platforms for the Promarker tests in the USA, and for working capital and costs associated with the offer. The company will seek insurance reimbursement and PBS listings. Euroz Hartleys Limited and Bell Potter Securities Limited acted as Joint Lead Managers to the Placement. The launch strategy is clinician-driven, focusing on educating GPs and supported by an online patient awareness campaign. The company has a dedicated commercialization team responsible for driving commercial adoption.

Serving up fresh finance news, marker movers & expertise.
LinkedIn
Email
X

All Categories