Proteomics International Laboratories Ltd (ASX: PIQ) has been awarded a major pharmacokinetic testing contract as part of its growing partnership with Linear Clinical Research.
The $409,000 contract will see Proteomics International test a novel drug for degenerative and inflammatory diseases on behalf of the Australian arm of pharmaceutical company Sironax Ltd.
The study is part of a Phase I clinical trial examining the safety, tolerability and pharmacokinetics of the drug, and will be undertaken over the next 12 months.
Pharmacokinetics is the study of what happens to drugs once they are inside the body, including the rate at which they are absorbed, distributed, metabolised and excreted.
Proteomics International managing director Dr Richard Lipscombe said the contract with Linear was one of Proteomics International’s largest to date.
With Australia as a leading destination for clinical trials, we are seeing strong demand for our specialist testing services in this fast-growing space,” he said.
Proteomics International’s pharmacokinetic testing capabilities operate under a suite of global laboratory accreditations, which recognise the company’s ability to consistently achieve technically valid, traceable and reproducible results. These include ISO 17025 Chemical Testing, ISO 17025 R&D with Good Laboratory Practice overlay, and the discrete ISO 13485 for Medical Devices. Proteomics International’s portfolio of analytical services also encompasses proteomics, biosimilars, and biomarker discovery and validation.
“Proteomics International’s strengthened pharmacokinetic testing business continues to boost our analytical services revenue, which in turn helps offset the expenditure on our pioneering diagnostics pipeline, and its development and commercialisation,” Dr Lipscombe said.
“This area of contract research is a hot area globally and is seeing lots of investment alongside mergers and acquisitions. It’s exciting to see this as we pursue our strategic vision to exploit our unique capabilities across analytical services and specialised biomarker discovery.”
