Proteome Systems Reports Proof of Concept Study Results for Prostate Cancer Diagnostic Program

SYDNEY, Australia–(EMWNews)–Proteome Systems Limited (ASX Code:PXL) announced today that it has

ceased development of a diagnostic test for Prostate Cancer. This

decision is based on the results of a Proof of Concept study that

demonstrated the project did not satisfy internal assessment hurdles.

Following validation by Proteome Systems of data generated by Egenix

Inc, which demonstrated increased expression of HCA (Human Carcinoma

Antigen) in cancerous versus non-cancerous prostate tissues, the Proof

of Concept Study evaluated the merits of HCA as a semen-based diagnostic

marker for Prostate Cancer. Proteome Systems identified a protein that

provides prostate-specific detection of HCA in semen, and developed an

assay for detection of HCA in clinical samples. However,

commercialisation of the assay would require significant resources along

with an extended development timeline.

“We remain committed to projects with

near-term revenue potential, as well as leveraging existing intellectual

property in the fields of respiratory and infectious diseases. In

particular, we are exploring opportunities to expand the development of

products using our DiagnostIQ^TM platform. For

instance, earlier this month we announced an agreement with Bayer

CropScience AG to develop and commercialise diagnostic products for crop

management,” said Jenny Harry, Chief Executive

Officer.

About Proteome Systems

Proteome Systems Limited (ASX:PXL) is an Australian based biotechnology

company that has extensive expertise in discovering biomarkers of

disease and in diagnostic test development. Its current focus is on

clinical and agricultural applications where there are large global

markets and an unmet need for diagnostics.

Proteome Systems offers commercial partners a clear marketing advantage

through its expertise in the development of novel, point-of-need

diagnostic tests based on its proprietary test platform, DiagnostIQ™.

It has the capability to work across the entire spectrum of diagnostic

test development – from identification and

isolation of biomarkers, through point-of-need test design, clinical

development or field testing to final product.

A collaboration and licensing deal has been entered with BD to exploit

PXL’s biomarkers for the development of new TB

diagnostic products. Bayer CropScience AG has an exclusive license for

the use of PXL’s DiagnostIQ™

test device for innovative applications in two defined agricultural

fields. In building its pipeline for clinical diagnostic products

Proteome Systems will select commercialisation partners at the most

appropriate stage for each product, and will continue to be

opportunistic in licensing its point of care test for other areas.

Additional information about Proteome Systems can be found at www.proteomesystems.com

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