Proteomics Intl Secures AU$6.5 millions for Diagnostics Advancements

Proteomics International Laboratories Ltd (ASX: PIQ) has secured AU$6.5 million through a non-underwritten institutional placement. Founder Dr. Richard Lipscombe will sell AU$2 million in shares to facilitate institutional participation without additional dilution. The funds will be allocated to commercialize the PromarkerD predictive test for diabetic kidney disease, further develop the Promarker diagnostics pipeline, and cover general working capital.

The placement, at AU$0.76 per share, represents an 11.5% discount to the five-day volume-weighted average price. Lead Manager Jefferies (Australia) Pty Ltd facilitated the placement to leading institutional investors in Asia and Australia. Concurrently, Dr. Lipscombe will sell 2.6 million shares, constituting 14% of his holdings, at the placement price. Proceeds will accelerate Proteomics International's commercial and development plans.

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