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Proteomics International Laboratories Ltd expands into key Indian market

Proteomics International Laboratories Ltd (ASX:PIQ)(NYSEARCA:PILL) has taken the opportunity to expand its operations into the massive Indian biotechnology industry.

PILL will target this rapidly growing global biotech hub forecast to be worth $US100 billion by 2025.

The company will conduct an Indian trade visit this month to drive uptake of biosimilars analytics and biomarker services.

PILL has already operated successfully in India since 2004, and therefore can build on this established exposure.

Dr Richard Lipscombe, managing director, commented:

"We see India as a huge growth market for our disruptive proteomics-based products and services and we are excited by the opportunity to expand our presence in this key international biotechnology hub.

"Our trade visit and the appointment of Sreeja Sony are key components of our Indian strategy, and we look forward to sharing news of our progress in due course."

Proteomics is an integral part of the biotechnology and life sciences industries and plays a key role in understanding disease and biological systems.

PILL is recognised as a global leader in its field.

The company received the world's first ISO 17025 laboratory accreditation for proteomics services, and operates from state-of-the art facilities at the Harry Perkins Institute of Medical Research in Perth, Western Australia.

The Indian opportunity

Backed by strong government support, intensive R&D activities and a rising demand for healthcare services, India's biotech industry is forecast to be one of the major global growth sectors of the next 10 years.

The industry generated estimated revenues of $US7 billion in FY15 led by the bio-pharmaceutical sector.

India is a leading manufacturer of biosimilars - protein-based generic drugs.

Between 2013 and 2017, 12 protein-based drugs (also known as biopharmaceuticals and biologics) with combined revenues of $50 billion come off patent.

This has created a major opportunity for biosimilar manufacturers to develop generic versions of these drugs.

PILL has one of the few global ISO 17025 accredited laboratories for proteomics testing services, which allows it to accurately analyse the protein make-up of these complex generic drugs as being like-for-like with the brand-name drugs they seek to replace.

This technical QA/QC biosimilar analysis represents a substantial export market for PILL and a growing opportunity for its analytical services business.

India has a growing incidence of diabetes, one of the major global health problems. It is estimated the country has 66 million known diabetics, and there were more than one million diabetes related deaths in 2014 alone.

This provides another substantial market opportunity for PILL's PromarkerD, the world's first proteomics-derived predictive (prognostic) test for the diagnosis of Diabetic Kidney Disease.

Indian regional sales manager appointed

In support of PILL's Indian growth strategy, the company has appointed Ms Sreeja Sony as regional sales manager for India.

Based in Delhi, she will be responsible for engaging new and existing clients directly, plus also co-ordinating PILL's agency network in India.

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