Updated on 25 January 2015
Mr Richard Lipscombe, MD, Proteomic International Laboratories
Singapore: There are two huge and overlapping trends happening in the healthcare sector-personalized medicine and the rise of biosimilars (protein generics).
Advances in proteomics and genomics are leading to a new generation of diagnostic tests and this is opening the door to personalized medicine - moving away from a one-size fits-all approach and instead matching patients to the best medication for them as individuals.
With the biologics patent cliff steepening there are more biosimilars entering the market, and the effectiveness of many of these drugs may ultimately be assessed using a personalized medicine approach.
2014 was a very exciting year for Proteomics International Laboratories Limited (PILL). Revenue continued to drive upwards and at the same time, PILL's diagnostics technology moved into a commercialization phase.
Our diagnostics division completed a two year, $2 million clinical study for diabetic kidney disease, which validated PILL's biomarker panel, and we are now in advanced negotiations with a commercialization partner in China.
PILL's accredited Analytical Services unit caters to the biosimilars industry, and in May, 2014 we were delighted to see the US FDA guidance for biosimilars that recommended extensive and robust comparative structural studies, an area in which PILL has specialized since 2001. This was on top of PILL entering a co-marketing agreement with inVentiv Health Clinical, a leading global CRO, to offer broader engagement with the biosimilars industry and a unified pathway to bring new drugs to market. Both will be catalysts for strong growth into the future.
PILL's first aim is to complete its live IPO on the Australian Stock Market targeting a subscription of $4-6 million. After that the focus is on driving revenue and product development from our unique central technology that performs protein analysis across three fast growing markets: biosimilars, biomarkers, and drug discovery.
Market growth on the back of a proven record of industry leading innovation. Building on our successes in 2014 and the IPO, PILL will be focused on continuing to increase its share of the biosimilars testing market, whilst translating its diagnostics products into licensing deals for personalized medicine.
In the upcoming years we can expect continued high growth in nearly every sector of the life sciences. It's easy to be bullish when markets for proteomics, biomarkers and peptide therapeutics are each forecasted to exceed the $20 billion mark in the near future.
Asia is a key driver for investment, with an ever increasing influence. It's both a huge target market and an essential source of investment dollars. Life sciences will be in the race for the best performing sector for sure. IT appears to have run too hard, whilst green technology still faces uncertainty in the near term. Resources are dead.