There are several positives from 4C
* If PromarkerD proves successful as a Companion Diagnostic test (CDx) to support the use of DMX-
200 as treatment for chronic kidney disease then Dimerix will have the option to licence PromarkerD
for ongoing use. Preliminary results will be available during 2018.
* The company forecasts a significant rise in revenue is Q3 FY18, and continues to
forecast it will become cash neutral on a monthly basis this financial year. Upfront or milestones
payments that Proteomics International may receive from licences for PromarkerD will further
enhance future cash flows.
* Longer term potential in development of new diagnostic market test for asthma and chronic pulmonary disease if preliminary result from joint study with Busselton Population Medical Research Institute, one of the longest running epidemiological research programs in the world, proves to be successful in mid 2018.
*Additional cash of up to $3.5 million to the coffers from likely exercise of PIQ options (at20c)
* Proteomics International also engaged industry experts Eric Button and Masafumi Yoshimoto to promote the sale of PromarkerD in the key markets of the USA and Japan. Getting access to the US market is the big one and Eric has the necessary credentials (which I extracted from Bloomberg) below
Mr. Eric Button serves as Chairman and Executive Consultant of Onconix Inc. Mr. Button served as Senior Vice President of Diagnostics at Metabolon, Inc. Mr. Button co-founded Amplistar Inc. in 1984 and served as its Chief Executive Officer and President since June 1999. He also served as President and Co-Owner of GlycoMark, Inc. He was Founder, President and Chief Executive Officer of Innovex Diagnostics/NovaDx.
He also co-founded a venture-backed drug and diagnostic discovery company in San Diego and has completed major corporate partnering deals with Bayer Corporation and Metra Biosystems. An experienced entrepreneurial Manager of early-stage biotechnology companies, Mr. Button served various senior management positions in business development, marketing, market research, strategic planning, research management and project management with Hybritech, Inc., then a subsidiary of Eli Lilly, in charge of the cancer diagnostics business, including the PSA cancer test. He also served with Strategic Technologies International Inc. He knows the cancer testing business because he has lived it. Through personal experience, Mr. Button understands not only the business of launching and growing a venture-backed biotechnology company but also the business of getting profitable products developed and commercialized. Mr. Button serves as a Member of Scientific Advisory Board of the University of North Carolina at Greensboro. He served as a Director of Amplistar, Inc. Since 2001, he has been an Adjunct Professor at the University of North Carolina at Greensboro, and served as Guest Lecturer on entrepreneurship and marketing to MBA students at Wake Forest University. He is a Babcock Entrepreneurial Fellow at the Wake Forest University Graduate School of Management. Mr. Button holds an MBA from the University of North Carolina-Greensboro, an MS in Molecular Genetics from the University of British Columbia-Vancouver and a BA in Biology from the University of North Carolina-Greensboro, where he was a Member of the Phi Beta Kappa honor society.
PIQ is still undervalued being just under a $20m mcap company with lots of potential ahead IMO. DYOR.
PromarkerD launch is just a week delay and if you had seen my earlier post I had expected it. It is more important they get it right when they launch it.
(20min delay)