Proteome Sciences. AGM Statement.

Will, re your 24,246

Well I have always said that my guesstimates were consistently on the conservative side and I still hold to that view.

To take a single example. In my opinion [but remember I am a layman] there is a substantial potential for saving lives by using a proteomic lung cancer test on bloods collected for mass screening..

All my figures are collected from what appear to me to be reputable sources on the internet - and I am always prepared to give the URLs should anyone want them.

The "at risk" population [ignoring non-smoking partners of smokers] is 70m,
About 180,000 new cases arise in the US each year, and about 158,000 die.

However the cure rate for stage 1 cancers is 70% to 80%. I think a good proteomic test [such as I believe PRM have] could detect stage 1 cancers with a high degree of reliability - probably long before the upper tumour size for stage 1 of 20mm.

So if all the 180,000 had been detected at stage 1 then 70% should have survived – so 54,000 would have died, compared with the actual 158,000 or a reduction of 104,000 in the US.

There is a large [50k patients, 9 years] trial in the US at the moment looking to see which of Xray or "spiral Xrays" - the later probably being better but costing several hundred dollars a test. Based on that I have estimated a price of $30 per PRM test.

This would be applied to a percentage of the 70m at risk population. I assumed 50% take up. [whereas breast cancer screening in the UK is around 80% tak eup ]. Thus the potential life saving for such a test should be 52,000 per year at a test cost of 35m x $30 or $1,050m giving a cost per life saved of $20,000 – very low indeed – so low that I think my estimate of 50% market penetration is perhaps too conservative

To finish the economics – PRM would get 15% of the $1,050m – or $157m. If this was extrapolated to all countries with a GDP > $15,000 pa. pp. then this would increase the likely gross revenue for PRM of around $500m.

I have been very disappointed that so far the medical profession has not jumped at it!

Richard