ASX Health Stocks: Proteomics jumps 13pc on diabetes test

It’s been a busy morning for the ASX Healthcare sector, with plenty of positive announcements for investors to digest.

But the Health Index (XHJ) is trading down by 0.5% at the time of writing, compared to the broader index which is trading higher by 0.3%.

Proteomics (ASX:PIQ) jumped 13% this morning, after a study showed that its PromarkerD predictive test for diabetic kidney disease (DKD) can improve clinical outcomes for patients with type 2 diabetes.

A US-based web survey of 400 primary care physicians and endocrinologists found that PromarkerD test significantly impacted physicians’ decisions, with more than three-quarters saying they were very or extremely likely to use PromarkerD in the future.

These results will be presented today at AMCP Nexus, a managed-care pharmacy conference in Denver.

PromarkerD is a simple blood test for diabetic kidney disease that can predict future kidney function decline in patients with type 2 diabetes and no existing DKD.

The biomarker-based test can also predict a decline in renal function up to four years in advance.

“This study shows PromarkerD offers a cost-effective, personalised approach to improving patient outcomes,” commented Proteomics CEO, Dr Richard Lipscombe.

“It allows earlier targeted treatment of those patients at highest risk of diabetic kidney disease, while avoiding unnecessary interventions for people at low risk.”

Proteomics share price today:

Other ASX healthcare stocks with notable announcements

Alcidion Group (ASX:ALC) +6%

The company will expand the use of its remote patient monitoring platform, Miya Precision, after the Sydney Local Health District agreed to expand the platform’s use to remote monitoring of patients with Acute Diverticulitis.

Miya Precision is ALC’s flagship product, which provides the clinicians with a clinical monitoring dashboard that consolidates information to support remote patient care.

PharmAust (ASX:PAA) +5.3%

The company has just announced the preparation for a Phase 3 trial for MPL in dogs with B-cell lymphoma, following encouraging results in the Phase 2 study.

Data from the Phase 2 trial has shown that combining MPL with prednisolone more than doubles the life expectancy of pet dogs, compared with standard-of-care (prednisolone alone).

Patrys (ASX:PAB) +4.7%

Pre-clinical study of Patrys’ full-sized deoxymab antibody, PAT-DX3, has shown that it can be used as a targeting agent for antibody drug conjugates (ADC), to deliver anti-cancer drugs to tumours.

Patrys reported that this inhibition of tumour growth resulted in a significant improvement in survival in animals treated with PAT-DX3.

“We look forward to advancing this program as an adjunct to our planned first in human clinical study of PAT-DX1, which remains on track for late 2022,” said Patrys CEO Dr James Campbell.

Neuroscientific Biopharma (ASX:NSB) +1.3%

NSB’s lead drug candidate . EmtinB has successfully completed the program of non-clinical Safety Pharmacology studies, as it seeks regulatory approval to start a Phase I clinical trial.

The study was undertaken by LabCorp Inc in the US, which sought to determine the potential for adverse effects on the central nervous system, cardiovascular system, and respiratory system from taking EmtinB.

The results were highly encouraging, showing that no adverse events were observed.

Auscann Group (ASX:AC8) +1%

The medicinal cannabis company has submitted a pre-submission conference (PSC) meeting request with the Centre for Veterinary Medicine, which is part of the US FDA.

The proposed meeting is to discuss a possible Phase 2 study for CPAT-01, Auscann’s lead drug candidate made from CBD and THC to manage pain in dogs with with osteoarthritis.

Argenica Therapeutics (ASX:AGN) unchanged

The AGN share price rose after the company released a Phase 1 road map for ARG-007, its lead drug that aims to protect brain cells and reduce cell death following a stroke or other brain injuries.

In previous pre-clinical studies, Argenica demonstrated that ARG-007 has no adverse effects, indicating that it is potentially safe and well-tolerated at the relevant doses.

HeraMed (ASX:HMD) unchanged

The maternity care specialist has successfully raised around $2.39 million via a placement of convertible notes, receiving strong support from several key institutional investors.

HMD says the funds will be used to capitalise on the opportunities that exist with several potential global commercialisation partners.