Proteomics International Laboratories Ltd. announced that it has extended its distribution agreement with Apacor Limited to bring its PromarkerD predictive test for diabetic kidney disease to patients in England, Scotland and Wales. Proteomics International commenced working with Apacor in November 2021 and initially signed a two year licence agreement. Since then, several key milestones have been achieved, notably including PromarkerD being registered for use with the UK Medicines & Healthcare products Regulatory Agency, and the publication of National Institute for Health and Care Excellence (NICE) advice on PromarkerD.

Based on this success Proteomics International and Apacor wished to extend the relationship and have agreed to an additional five year term. Both parties are now workings towards the inclusion of PromarkerD in the NICE Guidelines and engaging with the NHS Supply Chain Tender process as part of the commercial roll-out of the test in the UK. The Company will provide timelines for these processes when known.

The updated distribution agreement provides Apacor Limited with the exclusive right to sell the immunoassay version of the PromarkerD test in England, Scotland and Wales. The initial term of the updated agreement with Apacor expires on 31 January 2028, and is extendable for additional periods of three years by mutual agreement. Proteomics International will receive payment for each PromarkerD kit sold.

Both parties have the right to terminate the agreement with immediate effect upon the breach of any material terms of the agreement. The agreement is also subject to the standard terms, conditions, and warranties typical of a contract of this type. Further details of the licence agreement are commercially sensitive and remain confidential.

As for any novel test, market penetration cannot be predicted accurately, hence for the new market it is not possible to quantify the financial impact on Proteomics International in any given timeframe. Proteomics International and Apacor have also entered into discussions for extending their relationship into selected countries in continental Europe.