Genetype for Breast Cancer commissioned with sales to commence First Quarter 2020
10 December 2019 - 11:00PM
Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE,
“Company”) is pleased to announce the full commissioning of
its Australian Laboratory for the provisioning of its generation 3
breast cancer test with sales to commence in Q1, 2020.
Genetype for Breast Cancer is the world first Genomic test to
accurately predict risk of disease by combining the information
contained in your DNA with family history and mammography data to
create a powerful new tool in the battle with breast cancer. Our
tests can accurately identify low risk individuals (as low as 1/5
of average risk) as well as high risk individuals (up to 5 times
average risk). Unlike BRCA gene testing which is used to detect the
1 in 400 women who carry this cancer associated genetic mutation,
Genetype for Breast Cancer is relevant for the better management of
95% of all Breast cancers which are referred to as sporadic (or
non-familial) and is ideally suited to be the first line test in a
preventative medical genomic based health system. Our
tests are designed to complement current screening and not replace
them. By starting testing at the age of 35 Genetype is able to help
identify some of the 20% of breast cancers that occur before the
age of 50, the age at which government sponsored testing begins. In
addition, Genetype’s platform technology is able to help identify
interval cancers by the targeted increased screening of high-risk
individuals (Interval cancers typically strike between the current
2 yearly screening cycles and may represent as many as 25% of all
new cancers).
The first phase of sales and the integration of Genomics into
our health system will allow early adopters to be offered the test
in a medically supervised and integrated environment. Low and
normal risk individuals will continue to be managed as per current
government sanctioned screening schedule i.e. 2 yearly mammograms
from the age of 50. High risk individuals will be referred to
screening centres where they will be offered a personalised service
subject to their risk. High risk can be managed successfully by
modifying lifestyle and increasing cancer screening. Down the line,
increased vigilance may prompt doctors to recommend further steps
such as the prescription of chemoprophylactics or preemptive
surgery.
We are currently looking to secure 6 clinics in Victoria and the
same number in NSW where our test kits can be purchased and the
tests performed. We have commenced discussions with such groups and
intend to announce the sites where our tests will be available at
launch in Q1 2020. Our first 12 clinical sites will demonstrate
utility, with special emphasis on risk stratification,
reimbursement, distribution and most importantly user
experience.
About Genetic Technologies Limited
Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a
diversified molecular diagnostics company. GTG offers cancer
predictive testing and assessment tools to help physicians
proactively manage patient health. The Company’s lead
products GeneType for Breast
Cancer and GeneType for Colorectal
Cancer are clinically validated risk assessment tests
and are first in class.
Genetic Technologies is developing a pipeline of risk assessment
products.
For more information, please
visit www.gtglabs.com
Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this press release constitute
“forward-looking statements,” within the meaning of federal
securities laws, including statements related to the Company’s
anticipated use of proceeds and plans and prospects and other
statements containing the words “anticipate,” “intend,” “may,”
“plan,” “predict,” “will,” “would,” “could,” “should,” and similar
expressions, constitute forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of
various factors. Factors that could cause future results to
materially differ from the recent results or those projected in
forward-looking statements include the known risks, uncertainties
and other factors described in the Company’s prior filings and from
time to time in the Company’s subsequent filings with the
Securities and Exchange Commission. Any change in such factors,
risks and uncertainties may cause the actual results, events and
performance to differ materially from those referred to in such
statements. All information in this press release is as of the date
of the release and the Company does not undertake any duty to
update this information, including any forward-looking statements,
unless required by law.
FOR FURTHER INFORMATION PLEASE CONTACT
Investor Relations and Media (US) Dave Gentry,
CEO RedChip Companies Office: 1 800 RED CHIP (733 2447) Cell: US
407 491 4498 dave@redchip.com
Genetic Technologies (NASDAQ:GENE)
Historical Stock Chart
From Apr 2024 to May 2024
Genetic Technologies (NASDAQ:GENE)
Historical Stock Chart
From May 2023 to May 2024