Proteomics International Raises $4.5 Million to Accelerate Diagnostic Test Rollout

Highlights:

• Proteomics International (ASX: PIQ) secures $4.5 million via placement.
• Share Purchase Plan to raise an additional $1 million.
• Funds will support the launch of three diagnostic tests in Australia and the U.S.

Strong Investor Backing for Capital Raise

Proteomics International Laboratories Ltd (ASX: PIQ), a leading Australian medical technology company, has received robust investor support for a $4.5 million capital raise to fuel the commercial launch of its Promarker diagnostic test suite. At the time of writing, the company secured firm commitments from both new and existing institutional and sophisticated investors through a non-underwritten placement priced at $0.37 per share—representing a 17.9% discount to the 15-day VWAP.

As part of the offer, participants will receive one free attaching option for every two shares acquired. These options, exercisable at $0.50, will expire on 31 May 2026. A prospectus for the options will be lodged around 28 April 2025.

Share Purchase Plan to Raise Additional Funds

In addition to the placement, Proteomics International will offer eligible shareholders the opportunity to participate in a Share Purchase Plan (SPP) on the same terms. The SPP aims to raise an additional $1 million, with the flexibility to accept oversubscriptions.

The company’s Board and Key Management Personnel have also committed $0.5 million through a director placement, subject to shareholder approval at an upcoming extraordinary general meeting.

Funding Rollout of Diagnostic Innovations

Funds raised will be directed towards the commercial launch of three key diagnostic tests: PromarkerD (for diabetic kidney disease), PromarkerEso (for esophageal cancer), and PromarkerEndo (for endometriosis). The capital will also support system upgrades and the establishment of laboratory platforms in Australia and the United States. Managing Director Dr Richard Lipscombe said the raise comes at a pivotal time, with strong support validating investor confidence in the company's diagnostics portfolio.

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