Australian predictive diagnostics company Proteomics International Laboratories has selected Growth Medics, a medical device sales agency, for further European expansion.
Under the partnership, Growth Medics will assist Proteomics International in identifying and selecting European Union (EU) alliance partners for the latter’s PromarkerD predictive test for diabetic kidney disease (DKD).
PromarkerD is an advanced prognostic tool designed to anticipate future kidney function decline in individuals diagnosed with type 2 diabetes and without pre-existing DKD.
The predictive test has received CE Mark approval in the EU.
Netherlands-based Growth Medics will support in identifying, recruiting, and managing new partners and customers across Europe.
The company is an international medical device sales accelerator and facilitates market penetration for medical device and diagnostic companies.
Its digital marketing expertise aligns with Proteomics International’s global go-to-market strategy.
In addition, Growth Medics will provide essential support to Proteomics International and PromarkerD, such as business development, marketing, and administrative functions.
The medical device sales agency will also attend trade shows on behalf of Proteomics International and will deliver customer service and training.
Initially, Growth Medics will focus on pursuing new licensing and sales opportunities in key European markets including the Netherlands, Belgium, Italy, and Spain.
Proteomics International managing director Dr Richard Lipscombe said: “Their multilingual and multicultural capabilities ensure targeted sales and marketing strategies. This is a material development in our expansion strategy for PromarkerD across the diverse European market.”
Growth Medics will operate under standard fee-for-service terms, which will include commission for successfully generating revenue through partnerships for Proteomics International’s sale of the PromarkerD test.
As part of the agreement, the Australian company will refrain from appointing any other sales agency for the Netherlands, Belgium, Italy, and Spain.
Initially set for two years, the engagement can be extended for additional periods of three months by mutual consent.
Both parties retain the right to terminate the engagement with six weeks’ notice in case of a material breach of the agreement’s terms.
The agreement is also subject to standard terms, conditions, and warranties typical of such agreements in this industry.
Growth Medics managing director Emre Aykac said: “By predicting DKD up to four years in advance, our alliance aims to implement preventative measures that can save lives and improve the quality of care for patients across Europe.”
