Proteomics International Laboratories Ltd. has completed the pre-assessment phase of Australia's medical reimbursement system for PromarkerD. The application lays the groundwork for the test to be added to the Medicare Benefit Schedule (MBS). Inclusion on the schedule would mean eligible patients receive a Medicare rebate for the PromarkerD test.

In Australia, the suitability of new medical services for public funding is appraised by the Medical Services Advisory Committee (MSAC). This independent, non-statutory committee advises the government on whether services should attract a Medicare rebate. PromarkerD has cleared the pre-assessment stage of the process, which includes a systematic review of clinical evidence and practice, an economic evaluation, and the proposed item descriptor and fee by a specialist sub-committee.

Proteomics International will now submit a full application for the `assessment' stage of the process, which includes evaluation by a second sub-committee and consideration from the full MSAC. It is expected MSAC will meet in November 2022 to consider the proposal to include PromarkerD on the MBS, and may recommend, defer or reject the test for listing. The Company is also pursuing Therapeutic Goods Administration (TGA) approval for PromarkerD, which is a parallel and independent process, and the Company will provide updates as and when events occur on this front.