ASX Announcement, 23 April 2015
- Proteomics International Laboratories has secured a major new analytical services contract with The a2 Milk Company.
- PILL will provide protein analysis for the a2 Milk brand of fresh milk products to validate protein composition and for quality control purposes.
- The initial contract period is for 12 months.
- The a2 Milk Company is the manufacturer of the high quality a2 Milk branded dairy products.
- PILL’s Analytical Services business is built around its proteomics-based technology platform’s ability to test and validate protein composition of a wide range of products.
- Proteomics is an integral part of the life sciences industry and plays a key role in understanding disease and biological systems.
- It is a massive global market estimated to be worth $20.8b by 2018.
- This contract adds to PILL’s rapidly growing Analytical Services customer base and provides further validation of its global, market leading analytics capabilities.
Emerging life science company Proteomics International Laboratories Ltd (ASX: PIQ) (the Company, PILL) is pleased to announce that it has secured a new major analytical services contract with global diary company, The a2 Milk Company Limited (ASX: A2M, NZX: ATM) (a2 Milk).
Under the terms of the contract, PILL will utilise its state-of-the-art proteomics technology platform to provide analysis of protein in a2 MilK branded fresh milk products to validate protein composition and for quality control purposes.
The Company will specifically test for the presence of beta casein variant proteins in a2 Milk’s products on a daily basis. The initial contract period is for 12 months.
a2 Milk is the manufacturer of the high quality a2 Milk branded dairy products and has a significant market presence in Australia and New Zealand, and established operations in China and the UK. It has recently launched into the US market.
Background on the a2 Milk™ brand
a2 Milk is naturally occurring cows’ milk from stock that only produce the A2 beta-casein protein,
and not the A1 protein. It is an entirely natural and pure cows’ milk, which involves no technological
processes or genetic engineering.
Historically all domesticated cows produced only the A2 beta-casein-type protein, but as a result of a genetic mutation in European herds, the A1 milk protein emerged and subsequently spread throughout the world in modern farming. The a2 Milk brand is the only cows’ milk in Australia that is completely free from the A1 beta casein protein.
PILL is delighted to be in a position to provide its market leading analytical services for a2 Milk’s premium dairy products. PILL’s commitment to excellence and its position as a recognised global leader in the field of proteomics makes it an ideal partner and service provider for a2 Milk.
About PILL’s Analytical Services division
The Analytical Services component of PILL’s business is built around its proteomics-based technology platform’s ability to test and validate the protein composition of a wide and varied range of products.
It has extensive application in the generic drug market (biosimilars), with manufacturers of generic drugs seeking to have their compounds validated against the blockbuster drugs they seek to replace as they come off patent. Twelve protein-based drugs with combined revenue of $50 billion will come off patent by 2017, and PILL offers one of the only accredited laboratories in the world for this type analytical testing.
This contract with a2 Milk adds to PILL’s rapidly growing client portfolio in the Analytical Services area of its business. The Company continues to expand its Analytical Services customer base and will provide details on additional new contracts as they come to hand.
PILL managing director Dr Richard Lipscombe said:
“We are delighted to enter in to this contract with The a2 Milk Company to analyse the protein composition of their premium dairy products. Truth-in-labelling is an area of growing consumer concern and the ability to work with such a high-end company with a clear focus on delivering a unique, high-quality product provides further validation of our global, market leading analytics capabilities. The a2 Milk Company represents an ideal client for PILL and we look forward to working with them in a collaborative fashion to help them deliver a consistent high-quality product moving forward.”
PILL listed on the ASX on 16 April 2015 after completing a successful IPO which raised $3.05 million. It is an established, revenue generating business focused on 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.
PILL is an emerging ASX listed (ASX: PIQ) life science company focused on 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.
PILL is recognised as a global leader in its field. It 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 Company’s business model uses 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.
About The a2 Milk Company Limited
The a2 Milk Company Limited is a dual listed company (ASX: A2M, NZX: ATM) focused on building a global business based on a differentiated, premium and branded portfolio of dairy and infant formula products, supported by an integrated portfolio of intellectual property and a developing
body of scientific evidence. It has long-standing commercial relationships with farmers and independent dairy processors in Australia. Since the acceleration of growth for the a2 Milk brand in the Australian market, its milk consumption has steadily grown. It also has operations in China, the UK and the USA.
About the study of proteomics
Proteomics is the large-scale study of the structure and function of proteins. The protein make-up in our bodies differs from cell to cell and changes considerably over time. For example, a cancerous cell will have significantly different proteins to a healthy cell. Understanding proteomics can speed up diagnosis and the identification of drugs that can be used to treat diseases.
As recently as 12-15 years ago, identifying a single protein (a process called sequencing) took 24 hours, and required comparatively large amounts of highly purified sample. Today, PIQ can identify a protein in 10 seconds and complex mixtures can be quickly and accurately analysed. This drives the Company’s business model across its three areas of operation.
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