The company recently raised $3.1 million at $0.20 per share through its initial public offering on the Australian Securities Exchange. Shares in PIQ started trading on 16th April 2015.
PIQ has generated total revenues of $8 million since 2001 and has established 50 key clients. The company is recognised as a global leader in its field.
Its proprietary technology platform in the area of proteomics - the study of the structure and function of proteins - and operates across three business units, each of which represents a multi-billion market.
Lipscombe holds 16,141,281 shares, giving him a 31.91% interest held directly and indirectly in the company.
Xylo Pty Ltd has 6,277,594 shares, or a 12.41% interest.
PIQ specialises in the industrial scale mapping of the structure and function of proteins - one of the building blocks of life.
The company was a market innovator and the first company globally to receive the highest level of technical accreditation (ISO 17025) in proteomics testing.
It used this know-how to develop a versatile platform technology for discovering diagnostic tests.
By comparing blood samples taken from both sick and healthy people, The company is able to produce a set of "biomarkers"- biological signatures that can be used to test for a particular condition.
The technology opens the door to personalised medicine - moving away from a one-size fits-all approach and instead matching patients to the best medication for them as individuals.
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