Proteomics International Laboratories Ltd. advised that it has extended the term of its letter of intent with Sonic Healthcare USA Inc. until 28 February 2023. The binding and exclusive LOI, initially signed in August, provides for entering into an Exclusive Licence Agreement for use of Proteomics International's PromarkerD predictive test for diabetic kidney disease in the United States by Sonic Healthcare USA. Many of the key terms of the agreement hinged on the granting of a new dedicated CPT PLA reimbursement code for PromarkerD which was achieved and published by the American Medical Association at the beginning of January 2023.

The extension provides both parties the further necessary time to finalise the agreement. Both parties continue to work diligently toward achieving a successful roll-out of PromarkerD across the USA and to formalise milestone events and timelines in relation to the commercialisation process.