Proteomics flags US rollout of kidney test at global diabetes summit
The launch took place at the American Diabetes Association's 85th scientific sessions talkfest in Chicago. The annual conference marks the world's largest gathering of diabetes experts, making it the ideal stage to unveil PromarkerD to the US market.
PromarkerD is a simple predictive blood test capable of identifying a person's risk of developing diabetic kidney disease (DKD) up to four years before symptoms appear, offering a potential lifeline to the more than 32 million Americans living with type 2 diabetes.
According to clinical studies, the patented test accurately predicted kidney function decline in up to 86 per cent of patients who otherwise showed no symptoms.
'This marks a significant milestone in our global commercialisation strategy.'
Proteomics International managing director Dr Richard Lipscombe
More than half of all adults with diabetes in the US will develop kidney complications. These cases contribute to a colossal US$130 billion in annual healthcare costs - more than a quarter of the nation's Medicare budget.
Proteomics International managing director Dr Richard Lipscombe said: 'We're excited to introduce PromarkerD to the US at such a prestigious event. This marks a significant milestone in our global commercialisation strategy and underscores our commitment to addressing the diabetes epidemic through precision medicine.'
The PromarkerD rollout will begin in California, supported by the company's recently commissioned CLIA-certified testing laboratory in Irvine. US patients will be able to access the test from Proteomics International's integrated digital health platform. The sales model was piloted in Australia and designed to support direct-to-consumer and clinical engagement.
Renowned diabetes professional Davida Kruger, from Henry Ford Health in Detroit, called the test 'a paradigm shift in diabetes care.' Kruger noted early identification of at-risk patients means doctors can use preventive strategies long before irreversible damage occurs.
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The Advertiser
7 hours ago
- The Advertiser
Two US aid workers hurt: Gaza Humanitarian Foundation
The Gaza Humanitarian Foundation says two US aid workers have suffered non-life-threatening injuries in a grenade attack at a food distribution site in the Gaza Strip. The United States and Israeli-backed GHF said in a statement that the injured workers were receiving medical treatment and were in a stable condition. "The attack - which preliminary information indicates was carried out by two assailants who threw two grenades at the Americans - occurred at the conclusion of an otherwise successful distribution in which thousands of Gazans safely received food," the GHF said. The GHF, which began distributing aid in the Gaza Strip in May, employs private US military contractors tasked with providing security at their sites. It was not immediately clear who was behind the attack. The Israeli military, in a later statement, accused what it called "terrorist organisations" of sabotaging the distribution of aid in the Gaza Strip. There has been an escalation in violence in the enclave as efforts continue to reach a ceasefire agreement. Hamas on Friday reported it had responded positively to a US-brokered deal and was prepared to enter into talks. US President Donald Trump is scheduled to meet Israeli Prime Minister Benjamin Netanyahu on Monday. Gazan authorities reported at least 70 people have been killed in the territory by the Israeli military in the last 24 hours, including 23 near aid distribution sites. The ministry did not specify where or how exactly they had been killed. The Israeli military had no immediate comment on the reports. In a statement on Friday, the military said that in the past week, troops had killed 100 militants in the Gaza Strip and claimed that it had "operational control" over 65 per cent of the enclave after an offensive against Hamas fighters in the north. The Hamas-run interior ministry on Thursday warned residents of the coastal enclave not to assist the GHF, saying deadly incidents near its food distribution sites endangered hungry Gazans. The GHF has said it has delivered more than 52 million meals to Palestinians in five weeks. The GHF bypasses traditional aid channels, including the United Nations, which says the US-based organisation is neither impartial nor neutral. Since Israel lifted an 11-week aid blockade on the Gaza Strip on May 19, the UN says more than 400 Palestinians have been killed while seeking aid handouts. A senior UN official said last week that the majority of people killed were trying to reach aid distribution sites of the GHF. The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023 when Hamas attacked southern Israel, killing about 1200 people and taking 251 hostages, according to Israeli tallies. Gaza's health ministry says Israel's retaliatory military assault on the enclave has killed more than 57,000 Palestinians. It has also caused a hunger crisis, internally displaced the strip's entire population and prompted accusations of genocide and war crimes. Israel denies the accusations. The Gaza Humanitarian Foundation says two US aid workers have suffered non-life-threatening injuries in a grenade attack at a food distribution site in the Gaza Strip. The United States and Israeli-backed GHF said in a statement that the injured workers were receiving medical treatment and were in a stable condition. "The attack - which preliminary information indicates was carried out by two assailants who threw two grenades at the Americans - occurred at the conclusion of an otherwise successful distribution in which thousands of Gazans safely received food," the GHF said. The GHF, which began distributing aid in the Gaza Strip in May, employs private US military contractors tasked with providing security at their sites. It was not immediately clear who was behind the attack. The Israeli military, in a later statement, accused what it called "terrorist organisations" of sabotaging the distribution of aid in the Gaza Strip. There has been an escalation in violence in the enclave as efforts continue to reach a ceasefire agreement. Hamas on Friday reported it had responded positively to a US-brokered deal and was prepared to enter into talks. US President Donald Trump is scheduled to meet Israeli Prime Minister Benjamin Netanyahu on Monday. Gazan authorities reported at least 70 people have been killed in the territory by the Israeli military in the last 24 hours, including 23 near aid distribution sites. The ministry did not specify where or how exactly they had been killed. The Israeli military had no immediate comment on the reports. In a statement on Friday, the military said that in the past week, troops had killed 100 militants in the Gaza Strip and claimed that it had "operational control" over 65 per cent of the enclave after an offensive against Hamas fighters in the north. The Hamas-run interior ministry on Thursday warned residents of the coastal enclave not to assist the GHF, saying deadly incidents near its food distribution sites endangered hungry Gazans. The GHF has said it has delivered more than 52 million meals to Palestinians in five weeks. The GHF bypasses traditional aid channels, including the United Nations, which says the US-based organisation is neither impartial nor neutral. Since Israel lifted an 11-week aid blockade on the Gaza Strip on May 19, the UN says more than 400 Palestinians have been killed while seeking aid handouts. A senior UN official said last week that the majority of people killed were trying to reach aid distribution sites of the GHF. The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023 when Hamas attacked southern Israel, killing about 1200 people and taking 251 hostages, according to Israeli tallies. Gaza's health ministry says Israel's retaliatory military assault on the enclave has killed more than 57,000 Palestinians. It has also caused a hunger crisis, internally displaced the strip's entire population and prompted accusations of genocide and war crimes. Israel denies the accusations. The Gaza Humanitarian Foundation says two US aid workers have suffered non-life-threatening injuries in a grenade attack at a food distribution site in the Gaza Strip. The United States and Israeli-backed GHF said in a statement that the injured workers were receiving medical treatment and were in a stable condition. "The attack - which preliminary information indicates was carried out by two assailants who threw two grenades at the Americans - occurred at the conclusion of an otherwise successful distribution in which thousands of Gazans safely received food," the GHF said. The GHF, which began distributing aid in the Gaza Strip in May, employs private US military contractors tasked with providing security at their sites. It was not immediately clear who was behind the attack. The Israeli military, in a later statement, accused what it called "terrorist organisations" of sabotaging the distribution of aid in the Gaza Strip. There has been an escalation in violence in the enclave as efforts continue to reach a ceasefire agreement. Hamas on Friday reported it had responded positively to a US-brokered deal and was prepared to enter into talks. US President Donald Trump is scheduled to meet Israeli Prime Minister Benjamin Netanyahu on Monday. Gazan authorities reported at least 70 people have been killed in the territory by the Israeli military in the last 24 hours, including 23 near aid distribution sites. The ministry did not specify where or how exactly they had been killed. The Israeli military had no immediate comment on the reports. In a statement on Friday, the military said that in the past week, troops had killed 100 militants in the Gaza Strip and claimed that it had "operational control" over 65 per cent of the enclave after an offensive against Hamas fighters in the north. The Hamas-run interior ministry on Thursday warned residents of the coastal enclave not to assist the GHF, saying deadly incidents near its food distribution sites endangered hungry Gazans. The GHF has said it has delivered more than 52 million meals to Palestinians in five weeks. The GHF bypasses traditional aid channels, including the United Nations, which says the US-based organisation is neither impartial nor neutral. Since Israel lifted an 11-week aid blockade on the Gaza Strip on May 19, the UN says more than 400 Palestinians have been killed while seeking aid handouts. A senior UN official said last week that the majority of people killed were trying to reach aid distribution sites of the GHF. The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023 when Hamas attacked southern Israel, killing about 1200 people and taking 251 hostages, according to Israeli tallies. Gaza's health ministry says Israel's retaliatory military assault on the enclave has killed more than 57,000 Palestinians. It has also caused a hunger crisis, internally displaced the strip's entire population and prompted accusations of genocide and war crimes. Israel denies the accusations. The Gaza Humanitarian Foundation says two US aid workers have suffered non-life-threatening injuries in a grenade attack at a food distribution site in the Gaza Strip. The United States and Israeli-backed GHF said in a statement that the injured workers were receiving medical treatment and were in a stable condition. "The attack - which preliminary information indicates was carried out by two assailants who threw two grenades at the Americans - occurred at the conclusion of an otherwise successful distribution in which thousands of Gazans safely received food," the GHF said. The GHF, which began distributing aid in the Gaza Strip in May, employs private US military contractors tasked with providing security at their sites. It was not immediately clear who was behind the attack. The Israeli military, in a later statement, accused what it called "terrorist organisations" of sabotaging the distribution of aid in the Gaza Strip. There has been an escalation in violence in the enclave as efforts continue to reach a ceasefire agreement. Hamas on Friday reported it had responded positively to a US-brokered deal and was prepared to enter into talks. US President Donald Trump is scheduled to meet Israeli Prime Minister Benjamin Netanyahu on Monday. Gazan authorities reported at least 70 people have been killed in the territory by the Israeli military in the last 24 hours, including 23 near aid distribution sites. The ministry did not specify where or how exactly they had been killed. The Israeli military had no immediate comment on the reports. In a statement on Friday, the military said that in the past week, troops had killed 100 militants in the Gaza Strip and claimed that it had "operational control" over 65 per cent of the enclave after an offensive against Hamas fighters in the north. The Hamas-run interior ministry on Thursday warned residents of the coastal enclave not to assist the GHF, saying deadly incidents near its food distribution sites endangered hungry Gazans. The GHF has said it has delivered more than 52 million meals to Palestinians in five weeks. The GHF bypasses traditional aid channels, including the United Nations, which says the US-based organisation is neither impartial nor neutral. Since Israel lifted an 11-week aid blockade on the Gaza Strip on May 19, the UN says more than 400 Palestinians have been killed while seeking aid handouts. A senior UN official said last week that the majority of people killed were trying to reach aid distribution sites of the GHF. The latest bloodshed in the decades-old Israeli-Palestinian conflict was triggered in October 2023 when Hamas attacked southern Israel, killing about 1200 people and taking 251 hostages, according to Israeli tallies. Gaza's health ministry says Israel's retaliatory military assault on the enclave has killed more than 57,000 Palestinians. It has also caused a hunger crisis, internally displaced the strip's entire population and prompted accusations of genocide and war crimes. Israel denies the accusations.
News.com.au
2 days ago
- News.com.au
Scott Power: ASX health lifts to start FY26, Tetratherix ends IPO drought
ASX health up 1.6% over five days as Morgans' Scott Power says the mood is positive for start of FY26 Wound management house Tetratherix make its ASX debut and breaks an IPO drought for sector ProMedicus surges past $300 for first time following two new US customer contracts worth a total $190 million Healthcare and life sciences expert Scott Power, who has been a senior analyst with Morgans Financial for 27 years, gives his take on the ASX healthcare sector for the week and his 'Powerplay' stock pick. Morgans' senior healthcare analyst Scott Power has started FY26 in an optimistic mood, noting that despite the global geopolitical and economic uncertainties of recent months, the market broadly has been powering through and hitting new highs across many sectors. He noted healthcare was the laggard, with the S&P/ASX 200 Health Care Index falling 1.05% in June and down 6.64% YTD but said there was money flowing into the market more broadly. "If you look across the market there's multiple capital raisings going on across different sectors," he said. "That is suggesting people are feeling more confident and putting money to work." Wound management house Tetratherix (ASX:TTX) made its ASX debut on Monday breaking an IPO drought for the sector and trading up to 13% above their $2.88 a share offer price. Tetratherix is the first life sciences IPO since late November 2024, when cryogenics play Vitrafy Life Sciences (ASX:VFY) and nerve repair house ReNerve (ASX:RNV) listed on the same day. Barrenjoey Markets and Morgans Financial were joint lead managers and underwriters to the Tetratherix IPO. The S&P/ASX 200 Health Care index (ASX:XHJ) was up 1.6% for the past five days, while the benchmark S&P/ASX 200 (ASX:XJO) rose 0.6% for the past five days. "Over the past couple of months it has been pretty downbeat but it certainly feels a lot more upbeat, particularly since the end of the financial year and all the tax loss selling out of the way," Power said. ProMedicus surges past $300 on contract wins Health imaging stock ProMedicus (ASX:PME) surged ~10% on Thursday to rocket past $300 for the first time after announcing two new US customer contracts worth a total $190 million. The first win is a $170 million, 10-year contract with Colorado-based UCHealth, for the company's suite of image viewing and storage tools. The deal expands Promedicus into cardiology imaging, one of the adjacent 'ologies' the company had been targeting. UCHealth is a Colorado-based network of 14 hospitals, with affiliate clinics extending into Wyoming and Nebraska. Louisiana-based Franciscan Missionaries of Our Lady Health also renewed an existing contract for $20m, over five years. The deal renews a contract for the company's Visage 7 viewer, at a higher per-transaction fee. It also provides the merciful missionaries with Visage 7 Open Archive, which offers 'best-in-class interoperability'. The UCHealth contract is ProMedicus' largest deal to date and follows a $330m, 10-year agreement signed in November with Trinity Health, one of the largest not-for-profit healthcare systems in the US. "This company just goes from strength to strength and with the share price currently above $300 it has more than recovered from the wobbles it had in April when US President Donald Trump announced the tariffs," Power said. Morgans maintains a trim rating on ProMedicus and increased its 12-month target price from $250 to $280. "We view PME as one of the highest quality businesses on the ASX with high margins and long contracted revenue base, providing significant baseline earnings support," healthcare analyst Iain Wilkie wrote in a note to client. "We have a DCF valuation of A$280 p/s and with shares trading above this level, we advocate for active investors to TRIM overweight positions." Power's Powerplay – Micro X pivots to focus on medical applications Leader in cold cathode x-ray technology for health and security markets Micro-X (ASX:MX1) is Power's pick of the week. Power said the company had recently raised capital, added a strategic investor and realigned its business to focus on medical imaging, deprioritising security and defence. He said the realignment made sense and the business was funded to execute on the strategy. "It's early days in the realignment and customer receipts from imaging are still modest, although a major US hospital is evaluating the Rover+ mobile x-ray unit which could result in material sales over time," he said. Morgans has a speculative buy rating on Micro X and 12-month target price of 17 cents. Underperformers selling up assets Power said there were underperforming companies across the ASX healthcare sector, which were looking to, or have managed to, sell their primary assets. He said examples were Next Science (ASX:NXS) and MedAdvisor (ASX:MDR). Next Science has entered a binding asset purchase agreement to sell substantially all its assets for US$50m to Demetra, an Italian based healthcare company. The directors have unanimously recommended shareholders vote in favour of the proposed transaction. Assuming the transaction is completed at an EGM on August 14 and after repayment of debts and other costs, NXS will distribute remaining funds to shareholders estimated to be US$30m (~15 cents per share). MedAdvisor has entered into a binding share sale and purchase agreement to sell its ANZ business division and associated intellectual property to Jonas Software AUS Pty Ltd – part of multinational Constellation Software for $35m. "In both cases from a share price perspective they have significantly underperformed for a long time and the decision has been made, in my opinion correctly, to find a buyer," Power said. "Albeit, shareholders will have lost money but it's better to at least get something rather than let the value of the business deteriorate more. "I wouldn't be surprised if there are more companies which follow that path as across the life science sector there has been dozens of companies which have had massive share price underperformance." EMVision makes progress on key trials EMvision Medical Devices (ASX:EMV) announced this week five of the six sites were now enrolling and scanning patients in the pivotal validation trial for its first commercial device – the emu point-of-care bedside brain scanner for stroke diagnosis. EMVision said the site initiation visit and device training at the third US site for the pivotal trial – designed to support US Food and Drug Administration (FDA) de novo (new device) clearance for emu – at the Mount Sinai site in New York was a success, with recruitment underway. The sixth and final site, on the west coast of the US, for the pivotal trial is expected to be announced shortly. The trial has an estimated enrolment period of 6-12 months, followed by analysis and reporting of the clinical data. EMVision said in parallel it was also undertaking cost-effective strategy for continued device innovation, algorithm enhancement and data to support indication expansion to traumatic brain injury. Referred to as EMVision's Continuous Innovation Study the initiative has received ethics approval received to start scanning patients with suspected stroke or traumatic brain injury at Brisbane's Princess Alexandra Hospital and John Hunter Hospital in Newcastle shortly. "EMVision is making good progress," Power said. Neurizon signs global licensing deal with NYSE-listed Elanco Neurizon Therapeutics (ASX:NUZ) has entered an exclusive global licensing deal with New York Stock Exchange-listed Elanco Animal Health Incorporated and affiliates for monepantel, the active pharmaceutical ingredient in its lead drug NUZ-001. Neurizon said the licensing deal strengthen its strategic outlook for development, manufacturing and potential future commercialisation of NUZ-001, which is in development for the most common form of motor neurone disease (MND) called amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company said the licensing agreement also strengthens its regulatory position by providing ongoing access to essential animal safety and manufacturing data — both critical pillars for advancing clinical trials, securing potential regulatory approvals, and enabling global market entry. In a note to client Wilkie said Neurizon was a strong proposition in the rare disease space with significant near-term catalysts in a condensed timeframe and precedent for an accelerated approval pathway. "While considerable clinical risk remains, we view NUZ-001 as a drug with a sound scientific basis in ALS, strong safety profile, and promising hint of potential efficacy above existing treatments," he wrote. Morgans has a speculative buy rating on Neurizon and 12-month target price of 42 cents. The views, information, or opinions expressed in the interview in this article are solely those of the interviewee and do not represent the views of Stockhead. Stockhead has not provided, endorsed or otherwise assumed responsibility for any financial product advice contained in this article. At Stockhead, we tell it like it is. While EMVision and Neurizon are Stockhead advertisers, the companies did not sponsor this article.
AU Financial Review
3 days ago
- AU Financial Review
Pro Medicus runs to $300 so fast investors can't catch up
The ASX's No.1 rocket, Pro Medicus, keeps making its way to the moon. On signing two contracts worth a combined $190 million over the coming decade, the healthcare imaging software group added nearly $3 billion of market value.
