Skip to main content
Premium Trial:

Request an Annual Quote

Australia's Proteomics International Laboratories Launches A$6M IPO

NEW YORK(GenomeWeb) – Australian proteomics firm Proteomics International Laboratories today said it plans to offer up to A$6 million (US$5.2 million) of its shares in an initial public offering on the Australian Stock Exchange.

The firm said in a prospectus that it seeks to raise between A$4 million and A$6 million through an offering of up to 30 million shares of its stock at A$.20 per share. The proceeds will be used to drive growth in each of its three business units: analytical services, diagnostics, and therapeutics.

Founded in 2001, Perth-based PIL offers proteomics services including contract research, analytical testing, and consulting. The company also has a biomarker development program focused on diabetic kidney disease and Alzheimer's disease, as well as a therapeutics program focused on peptide drug discovery from venoms with a focus on painkillers and antibiotics.

Since its founding, PIL has generated gross revenues of A$7.5 million.

The company opened the stock offering on November 3 and plans to close it on November 28 in anticipation of a December 16 listing on the ASX.

The Scan

Should've Been Spotted Sooner

Scientists tell the Guardian that SARS-CoV-2 testing issues at a UK lab should have been noticed earlier.

For Martian Fuel

Researchers have outlined a plan to produce rocket fuel on Mars that uses a combination of sunlight, carbon dioxide, frozen water, cyanobacteria, and engineered E. coli, according to Gizmodo.

To Boost Rapid Testing

The Washington Post writes that new US programs aim to boost the availability of rapid at-home SARS-CoV-2 tests.

PNAS Papers on Strawberry Evolution, Cell Cycle Regulators, False-Positive Triplex Gene Editing

In PNAS this week: strawberry pan-genome, cell cycle-related roles for MDM2 and MDMX, and more.