News and Announcements
Proteomics International Laboratories (ASX:PIQ) Lists on the ASX
- Published April 16, 2015 1:33PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
ASX/Media Release, 16 April 2015
ASX code: PIQ
Emerging life science company Proteomics International Laboratories Ltd (proposed ASX: PIQ) is pleased to announce it will list on the ASX at 12:00pm AWST today after successfully closing its IPO.
The strong level of investor interest in the IPO is a reflection of the major growth potential of PIQ’s world leading proprietary technology platform in the area of proteomics – the industrial scale study of the structure and function of proteins.
Proteomics is an integral part of the biotechnology and life sciences industries and plays a key role in understanding disease and biological systems. It represents a massive global market estimated to be worth $20.8 billion by 2018.
The IPO successfully raised $3.05 million, via the issue of 15.25 million shares at 20c each.
On listing the Company will have a tight capital structure, with 50.6 million shares on issue, and a market capitalisation of $10.1 million.
PIQ is an established revenue generating business founded in 2001, and recognised as a global leader in its field. It received the world’s first ISO 17025 laboratory accreditation for proteomics services, and its team operates from state-of-the art facilities at the Harry Perkins Institute of Medical Research in Perth, Western Australia.
The Company’s business model is based on its proprietary technology platform which operates across three synergistic proteomics-based business units in massive growth markets:
1. Analytical services – Specialist contract research, analytical testing and consultancy – fee for service model.
2. Diagnostics – Biomarkers of diseases and personalised medicine – focus on diabetic kidney disease and Alzheimer’s disease. The biomarkers market is estimated to double in size to $40.8 billion by 2018.
3. Drug discovery – Therapeutic drug discovery with a focus on painkillers and antibiotics. The peptide therapeutics market is currently estimated to be worth $17 billion.
The proceeds of the IPO will be used to expand and accelerate the growth of each business unit.
The Company has a substantial portfolio of clients and partners, including: CSIRO, Reliance Life Sciences, inVentive Health Clinical, Australian National University, National University of Singapore and Royal Institute of Technology in Sweden.
The Financial Adviser and Lead Manager to the Offer was Sydney-based corporate advisory firm K S Capital. Proteomics International Laboratories Ltd ABN 78 169 979 971 Box 3008, Broadway, Nedlands, WA, 6009 Australia
To read the full document, please click on the link below to download.