Proteomics International Laboratories Limited (ASX: PIQ) is a medical technology company founded in 2001 and headquartered in Perth, Western Australia. The company focused on improving the quality of life by creating and applying technologies, which motivated it to develop various solutions to benefit the general public. Proteomics International Laboratories Limited was listed on the ASX on 16 April 2015 at an issue price of AUD 0.22 per share.
Financial Performance
Proteomics International reported revenue of AUD 3.6 million in FY24, primarily supported by its established bioanalytical services business, which helps offset its R&D expenditure. For FY24, the company held AUD 5.3 million in cash, providing a solid runway for multiple commercial launches in 2025. The average quarterly cash burn during FY24 was AUD 1.6 million, reflecting ongoing investment in test development, regulatory approvals, and infrastructure. With a market capitalisation of AUD 55 million and a share price of AUD 0.42, the company enters CY25 in a strong financial position.
Importantly, the upcoming revenue streams from high-margin diagnostics, such as PromarkerD, which has already been launched in Australia and the US, are expected to significantly bolster income soon, particularly as sales channels expand through direct-to-consumer and licensing pathways.
Strategic Development
Proteomics International is launching a multi-product strategy in 2025, driven by its proprietary Promarker platform, which identifies disease-specific protein patterns in blood. The company is announcing four diagnostic tools in the market. The first tool is PromarkerD, a blood test that can predict diabetic kidney disease up to four years before symptoms appear. This test is now available in both Australia and the US, targeting over 33 million diabetics in these areas.
The other three tools are expected to launch between Q2 and Q3 of CY25. Those products are called PromarkerEndo, PromarkerEso, and OxiDx.
PromarkerEndo is used for the treatment of endometriosis, offering a sensitivity and specificity of up to 96%. The test can potentially reduce the current 7-year delay in diagnosis. PromarkerEso is a non-invasive, highly accurate blood test for detecting oesophageal adenocarcinoma (EAC), the most common form of oesophageal cancer. OxiDx is a blood test to monitor oxidative stress, useful for assessing muscle damage and recovery in elite athletes and thoroughbred racehorses.
Each test addresses a major diagnostic gap and leverages a flexible go-to-market strategy, including direct to customer and laboratory licensing models.
Growth Pipeline
The company has integrated a digital platform called myTEST, which enables test delivery, reporting, and GP integration, streamlining the customer experience and opening scalable sales channels.
In Australia, the PromarkerD test launched in Q1 2025 with full DTC support, including blood collection logistics, GP partnerships, and telehealth options. In the USA, where 32 million people live with diabetes, PromarkerD has launched at a reimbursement rate of USD 391, supported by the company’s CLIA-certified US reference laboratory.
PromarkerEso and PromaekerEndo are both undergoing final preparations for ISO 15189-accredited launches in Australia, with global distribution potential through licensing agreements and reference labs.
The OxiDx test is a world first in sports and equine diagnostics and has demonstrated success in early clinical studies. Proteomics is exploring potential spin-outs or partnerships in sports tech and animal health sectors.
The company combines a validated technology platform with high-margin products, international certifications, and scalable go-to-market strategies. Its addressable markets are large, underserved, and backed by strong clinical need and economic rationale. As PromarkerD gains traction in Australia and the US, and with follow-on tests for endometriosis, esophageal cancer, and oxidative stress nearing commercial readiness, PIQ is well-positioned for significant revenue growth. Supported by a world-class team, global IP protection, and strong clinical validation, Proteomics International stands out as a high-impact, high-potential ASX-listed medtech company worth watching and investing in.
