PIQ (ASX) Undervalued for its Global Potential

Originally posted by 1ronnie ↑

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PROTEOMICS (PIQ)
SUMMARY ANALYSIS
MCAP: $13.57M @ 23c
Business : Specialist MedTech and Life Sciences company focused on the application of proteomics
PIQ focuses on proteomics, which is the large scale mapping of the structure and function of proteins. Understanding of proteomics can assist with improving the diagnosis of diseases and the identification of drugs that can be used to treat diseases.
PIQ’s primary focus is the expansion of its protein analysis services for biosimilars and clinical trials and the commercialisation of PromarkerD, the breakthrough diagnostic test for kidney disease in diabetics. The Promarker technology platform identifies biomarkers in blood to accurately predict whether diabetic patients will develop chronic kidney disease.
PIQ’s business model harness its proprietary technology platform to work across three integrated areas, each massive growth markets:

Diagnostics- biomarkers of disease and personalised medicine with focus on diabetic kidney disease. By 2020, the biomarkers market is estimated to double in size to $45.6B. The company has developed the first diagnostic test that can predict with accuracy whether a person suffering Type 2 diabetes will develop kidney disease and there were about 415 million adults with diabetes worldwide in 2015 with 1 in 3 of them having chronic kidney disease. There are currently two standard diagnostic tests for kidney disease in diabetics, a urine test and a blood test, however the accuracy of these tests are poor and neither test can predict if the patient will develop kidney disease in the future, which is what the PromarkerD test does. PIQ conducted two clinical studies over a four year period on the effectiveness of the PromarkerD and found that PromarkerD was able to accurately preduct 86% of diabetics who went on to develop chronic kidney disease over the four year period.

PromarkerD has the potential to save healthcare systems around the world billions of dollars in costs with predictive and preventative diabetic kidney disease management.

In March, a Frost & Sullivan report titled “Biomarkers Enabling Diabetes and Obesity Management” identified PromarkerD as the world’s leading test for diabetic kidney disease, and the new results confirm that PromarkerD predicts rapid decline in kidney function in type 2 diabetes, across clinically significant definitions of disease,independently of recognized clinical risk factors.

PromarkerD is set for global launch on 8 February 2018 (although this begins in Dominican Republic by PIQ’s international partner there but this will serve as the product’s gateway expansion into the US market) – this could be a catalyst for price growth.
PIQ has been granted patent protection for PromarkerD.
Watch Video on PromarkerD
http://www.proteomics.com.au/diagnostics/diabetic-kidney-disease-promarkerd/
http://www.diabetes.co.uk/news/2017/sep/new-biomarkers-may-accurately-identify-renal-disease-in-patients-with-type-2-diabetes-90688559.html
http://promarkerd.com/wp-content/uploads/2017/07/1707-DDNews-Positive-Results-for-PromarkerD.pdf
http://promarkerd.com/opportunities/diagnostic-test/
This could well prescribed by GPs to have diabetics tested at the Dorevitch of the worldb.
(b) The Analytical unit of PIQ provides specialist protein analysis services to a range of pharmaceutical, biotechnology and academic clients globally on a fee for service basis from its state of the art ISO 17025 accredited facility in Perth (the first in the world to gain ISO for proteomics services). PIQ’s ISO lab is one of the few worldwide to have accreditation to provide protein based drug analysis.
PIQ’s Analytical unit provides quality control testing for companies looking to develop biosimilars (which are generic version of an approved biologic (protein based treatment). Biologics which account for about 20% of the pharmaceutical market, is expected to grow to in excess of US$390B by 2020.
In July 2017, PIQ won a major analytical services contract worth >$200k with BiosanaPharma to test as new asthma drug. In Febuary 2014, PIQ entered into a co-marketing agreement with inVentiv Health, a global supplier of drug development services in which PIQ will provide product quality control analysis for a 5 year term. In November 2016, PIQ entered into a partnership with Linear Clinical Research to provide analytical services for clinical trials at Linear.
c. Therapeutics
The Therapeutics unit seeks to develop new painkillers and antibiotics using venom from Australia’s wildlife. This is however not the main focus of the company , so will not be elaborated further.

What to like about PIQ?
* Under the radar stock, which had its IPO at 20c.

Global potential with PromarkerD – it has achieved all ticks scientifically and patent protection and if commercialisation proven successful, the global market is huge

Recognised for its technical leadership in analytical proteomics

Already Revenue generating (from Analytical unit) and with R&D grant, total expected circa $2.7m in FY17/18, a 42% growth. Cash burn 2017-18 at just $0.5m and no CR expected with cash of $1.5m in hand

Top 20 shareholders own 63%, tightly held stock – Directors collectively own 40% of stock and have lots of skin in the game

Market cap of $14m undervalues its global potential and does little justice to the fantastic achievements PIQ has made to date in the field of biomarker discovery

Its patents are now extended to kidney disease, not just CKD (chronic kidney disease) amongst diabetics

Its potential is not just limited to CKD in diabetics and analytical services but also diagnostics for asthma patients

Strong management team- founder and MD Richard Lipscombe himself an Oxford scholar in chemistry with PhD in immunology at London University and boosted by recent addition of Roger Moore (not 007 J) who was president at Novo Nordisk Japan (world’s largest manufacturer of insulin and a global leader in diabetic care) for almost 30 years

Independent Investment Research has a price target of 60c

Expand

Can i ask whose analysis this is?

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(20min delay)
Last 41.5¢		Change -0.020(4.60%)		Mkt cap ! $68.74M

Open	High	Low	Value	Volume
44.5¢	44.5¢	40.5¢	$286.6K	682.0K

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