Proteomics says this situation means early diagnosis is critical. Oesophageal cancer ranks seventh in cancer-related deaths globally and survival rates are grim.
Oesophageal adenocarcinoma diagnoses have surged sixfold globally in the past 40 years, making the disease one of the leading causes of cancer deaths. Less than 20 per cent of those living with the disease survive five years.
PromarkerEso has been developed using a patented blend of four blood-based glycoproteins โ which act like a protein fingerprint in blood – coupled with a patientโs age and body mass index. At-risk patients can then be flagged for further endoscopic testing.
Proteomics International Laboratories managing director Dr Richard Lipscombe said: โThe published results represent a major advancement in our mission to transform the lives of people living with chronic acid reflux. PromarkerEso has the potential to revolutionise how doctors manage the risk of oesophageal cancer – offering a standard blood test that could reduce reliance on invasive procedures and improve early detection rates.โ
PromarkerEsoโs Australian commercial rollout is now underway and its international expansion will shortly follow. To improve its market reach, Proteomics will be able to plug the test directly into its existing direct-to-consumer and GP-targeted pathways, which the company has already built for its other Promarker diagnostics.
To help with the companyโs ongoing trials and provide some firepower to its marketing campaigns, Proteomics also announced a successful $12 million capital raising today with the issue of 32.5 million new shares at 37 cents each with half an attached option.
Industry experts have backed up the breakthrough, calling the test a potential game-changer. Professor Hugh Barr, a world-leading United Kingdom-based oesophageal surgeon, said PromarkerEsoโs early detection capability will ensure curative treatment for the disease.
Professor Barr is part of an expert team of seven key clinical leaders on Proteomicsโ new clinical advisory board, who were recruited to help the company crack a massive global market, including in North America.
With patents granted across Australia, China and Europe, and further applications pending, Proteomics appears to have locked in both a health win and a major commercial opportunity.
The testโs scalability and strong profit margins make it an attractive prospect for global healthcare providers as a world-first, clinically validated test addressing a multi-billion-dollar market with a huge unmet medical need.
One drop of blood might save a life – and help launch a diagnostic empire.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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