Proteomics International Laboratories (ASX:PIQ) has announced that it will resubmit its application to have the PromarkerD predictive test for diabetic kidney disease (DKD) funded via Medicare.
The company's first submission was rejected by the Medical Services Advisory Committee (MSAC).
It said its new submission follows a meeting with MSAC and that it believes "there is strong evidence" that PromarkerD testing can both improve patient quality of life and deliver significant savings for the health system.
"The MSAC decision not to support public funding of PromarkerD testing in Australia comes after key bodies in the Company's target markets of the USA and UK moved towards endorsing the test," it said.
"In reaching its decision, Australia's MSAC were primarily concerned about the cost of the test and the lack of sufficient data on how the use of PromarkerD would change clinical practice and improve outcomes for patients.
"The Company is confident it can provide the necessary information to address these items, along with addressing specific technical queries which the Committee also raised.
Proteomics International managing director Dr Richard Lipscombe said the Australian decision was frustrating for the company.
“This home grown innovation has traction in both the US and UK, and whilst Australia is not a major market for us in terms of size, we do not want to see the Australian public forced to either pay for PromarkerD out of their own pockets or miss out on the potentially life-saving test. Consequently, we look forward to re-engaging with MSAC to address concerns and to clarify any misunderstandings which may have detracted from the Committee approving the application.”