Proteomics International Laboratories Ltd. announced that it will resubmit its application to have the PromarkerD predictive test for diabetic kidney disease (DKD) included in the Australian Medicare Benefits Schedule (MBS) after its initial application was denied. The MBS review relates to having the cost of the test reimbursed in Australia and does not relate to the regulatory approval process. The application for listing PromarkerD testing on the MBS was denied at first instance by Australia's Medical Services Advisory Committee (MSAC).

Proteomics International notes that the majority of first-time submissions to the MBS and Pharmaceutical Benefit Scheme (PBS) are denied 1, 2 and therefore, it intends to resubmit its application for PromarkerD to be covered under the MBS after completing a debriefing with MSAC and preparing any necessary new documentation. The Company believes there is strong evidence that PromarkerD testing can both improve patient quality of life and deliver significant savings for health care systems, through fewer patients requiring dialysis and kidney transplants and is looking forward to re-engaging with MSAC to respond to its queries. The MSAC decision not to support public funding of PromarkerD testing in Australia comes after key bodies in the Company's target markets of the USA and UK moved towards endorsing the test.

The American Medical Association recently approved a new dedicated CPT® Proprietary Laboratory Analyses (PLA) reimbursement code for PromarkerD, which is a critical step towards the test being covered by both Medicare & Medicaid and private health insurers in the USA, and thereby enabling affordable access and broad adoption of the test in the USA.