Proteomics has launched 2 Promarker tests in a matter on months and is about to launch a 3rd

Proteomics‘ suite of Promarker tests are all being launched in 2025.

The range includes:

• PromarkerD for DKD which has been launched in Australia and the USA;
• PromarkerEso for Esophageal cancer which is now commercially available in Australia, and
• PromarkerEndo for Endometriosis which will be commercialised shortly.

Launching 3 tests in a a year is a feat few other companies can boast of, but the company is flying under the radar of many investors.

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The investment case for Proteomics and its Promarker tests restated

All 3 of PIQ’s tests can help diagnose conditions earlier than conventional methods can now and can allow for earlier intervention that may be more effective. PromarkerD is predictive (meaning it can predict the likelihood of developing Diabetic Kidney Disease), but the other two tests are purely diagnostics.

In all conditions targeted, the conventional methods today are highly invasive and time consuming – endometriosis for instance can only be diagnosed with invasive surgery. Alternatively they may not be accurate or sensitive unless the disease is at a later stage. Several studies over the years have validated Proteomics’ tests and their capability.

Furthermore, Proteomics’ tests have significant market opportunities. PromarkerD has a market opportunity of 21.1m in the USA, 40.9m in the EU and 1m in Australia. These are the two-thirds of diabetics who do not have DKD, as PIQ believes it can serve these people by predicting whether or not they will develop DKD.

For PromarkerEndo, it is estimated that one-ninth of women of child-bearing age suffer from endometriosis and this is 7.39m in the USA, 14.8m in the EU and 609k in Australia. PromarkerEso’s aim is to provide an easy testing alternative to endoscopic scans. PIQ estimates there are 390,000 Australians eligible for them, and we believe there are 1.5m in the USA and 2m in the EU.

2025 has been the year of commercialisation, starting with PromarkerD

Proteomics began with PromarkerD, launching the test in Australia in the first half of 2025, selling directly to healthcare professionals. A US launch occurred a few months later at the 85th Scientific Sessions of the American Diabetes Association (ADA), which is the largest gathering of diabetes professionals in the world. This happened at the same time a new generation of the test was launched that reduces the inputs to generate a DKD risk score from 6 down to 4 – 2 plasma protein biomarkers (ApoA4 and CD5L) alongside age and estimated glomerular filtration rate (eGFR)

PromarkerD is being initially offered via selected sites at California to refine the blood collection logistics before expanding statewide and then into other states. The test’s US entry is occurring through the Laboratory Developed (LDT) route which is an easier and alternative mechanism to penetrate the American market compared to the FDA 510(k) route that many ASX biotech investors would be familiar with – although Proteomics plans to pursue this route down the track as well as an eventual launch in Europe.

PromarkerEso and PromarkerEndo are following

PromarkerEso was formally launched at the recent ISDE World Congress in Brisbane and is now commercially available in Australia. A rollout in the US will occur in the coming years, but the focus will be on Australia at this point in time. Meanwhile, commercial availability of PromarkerEndo is anticipated by the end of CY25 initially in Australia. Proteomics has laid firm foundations for the commercial success for these tests including the existing clinical data, securing patent protection and pursuing prospective customers through attending industry conferences.

Significant upside for investors

Proteomics’ path to market has not been entirely smooth, but investors’ patience is gradually being rewarded with the launches of the company’s tests. We anticipate the company to re-rate once it begins generating substantial revenues from its suite of tests. Our friends at Pitt Street Research estimate upside to $1.86-2.75 per share.

Proteomics is a research client of Pitt Street Research.