Proteomics boosts European presence with diabetes device

Proteomics International Laboratories is escalating its expansion into the European market after appointing Netherlands-based sales agency Growth Medics to promote its “PromarkerD” predictive test for diabetic kidney disease (DKD).

Management says there are more than 61 million adults across Europe living with type 2 diabetes, leading to healthcare costs of about €176 billion (AU$285.36 billion) and additional medical complications for patients.

PromarkerD is a prognostic test that can predict future kidney function decline in patients who have type 2 diabetes, but no existing DKD. The company’s patented assessment uses a simple blood test to detect a unique “fingerprint” of the early onset of the disease.

Clinical studies published in leading journals show PromarkerD correctly predicted up to 86 per cent of otherwise healthy diabetics, who went on to develop DKD up to four years before clinical symptoms appeared.

Management says Growth Medics is an international medical device sales company that has a proven track record in assisting medical device and diagnostic companies achieve market penetration, in addition to the digital marketing experience required for Proteomics’ global go-to-market strategy.

As part of the new appointment, the sales agency will assist in the identification, recruitment and management of new partners and customers in Europe, while also providing business development, marketing and administrative support for PromarkerD.

We believe Growth Medics is an ideal partner to drive the commercialisation of PromarkerD through Europe due to their extensive market knowledge, proven track record, regulatory expertise and strong relationships with key stakeholders. Their multilingual and multicultural capabilities ensure targeted sales and marketing strategies.

Lipscombe described the new partnership as a “material development” in the company’s expansion strategy for PromarkerD throughout the diverse European market.

Late last year, Proteomics signed a licence agreement to sell PromarkerD in Chile, expanding its reach into the lucrative Central and South American markets. The deal with long-standing partner Omics Global Solutions will see the test made available in the Republic of Chile, which management says is home to 1.7 million adults living with diabetes – the equivalent of one in eight adults.

Globally, there are 537 million adults diagnosed with the chronic condition – a daunting tally that is forecast to reach 783 million by 2045. In the United States alone, an estimated 32 million people – or 11 per cent of the adult population – live with diabetes, costing that country a whopping US$130 billion (AU$198 billion) a year.

According to the terms of the latest deal, Growth Medics is engaged on market standard fee-for-service terms, including a commission for achieving successful revenue-generating partnerships for Proteomics.

Under the agreement, Proteomics has agreed not to appoint any similar sales agency for the Netherlands, Belgium, Italy and Spain. The engagement is for two years and is extendable for additional periods of three months by mutual agreement.

The deal is not Proteomics’ first foray into the European market as its 66 per cent-owned subsidiary OxiDx was awarded a European patent for its finger-prick technology used in monitoring and measuring levels of oxidative stress back in February.

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