Genetic Technologies Invited to Establish a Market Presence in Hainan, China
September 17 2018 - 5:30AM
Hainan Resort Software Community(“
HRSC”) has on
behalf of Hainan Ecological Smart City Group
(“
HESCG”) formally extended an invitation to
Genetic Technologies Limited (“
GTG”) to establish
its planned market entry into China via the Hainan Free Trade Zone
initiative. As previously reported to the market on 21 August 2018,
participants in the Hainan Medical Pilot Zone gain access to the
Chinese healthcare market with an estimated value in excess of
US$800B. Companies approved to operate in China as part of
the Hainan Free Trade Zone Initiative can take advantage of
significant tax benefits, subsidies and investment.
HRSC will also support GTG’s market entry through the provision
of services including;
- Chinese company registration,
- Free office space in the zone,
- Marketing assistance – providing a link with government
sectors, hospitals and enterprise,
- Assist in process to obtain CFDA approval for GTG’s risk
assessment tests; this will dramatically fastrack the
process,
- Obtain test samples to undertake new product development for
the Chinese ethnic population.
The formal invitation follows on from a recent
visit to Hainan by GTG’s CEO, Dr Paul Kasian and representatives
from Beijing Zishan Health Consultancy Limited
(“Zishan”), with whom GTG has signed a Heads of
Agreement (as announced to the market on 14 August 2018).
Dr Paul Kasian, Genetic Technologies’ Chairman commented: “The
invitation is a significant first step to advance the adoption of
genetic risk assessment tests in the region. We are grateful for
the support we have received from HRSC and its commitment to
continue to work with GTG to enable a successful outcome in
China.”
FOR
FURTHER INFORMATION PLEASE CONTACT |
|
|
Dr Paul
Kasian |
Jason Wong
(USA) |
Chairman and Interim
CEO |
Blueprint Life Science
Group |
Genetic Technologies
Limited |
+1 (415) 375 3340, Ext.
4 |
+ 61 3 8412
7000 |
|
About Genetic Technologies LimitedGenetic
Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified
molecular diagnostics company embracing blockchain technologies
across Genomic testing platforms. GTG offers cancer predictive
testing and assessment tools to help physicians proactively manage
patient health. The Company’s lead product, BREVAGenplus®, is a
clinically validated risk assessment test for non-hereditary breast
cancer and is first in its class. For more information,
please visit www.brevagenplus.com and www.phenogensciences.com.
Genetic Technologies is developing a pipeline of
risk assessment products including a novel colorectal cancer (CRC)
test. For more information, please visit www.gtgcorporate.com
About Beijing Zishan Health Consultancy
Ltd China Healthcare Market will constitute one of the
largest markets in the world. In addition to rising demand for the
best available treatment from newly affluent consumers, China is
facing new challenges as cancer, heart disease, diabetes and other
chronic diseases afflict more of its population. In line with the
Healthy China 2030 China plan and based in mainland China, Beijing
Zishan Health Consultancy is focusing on the development and
management of healthcare sectors in China that include
Biotechnology, Medical Devices / Diagnostic equipment, Medical
Services, Digital Health Technology, Healthcare Distribution and
Health Investment Funds.
Safe Harbor Statement
Any statements in this press release that relate
to the Company's expectations are forward-looking statements,
within the meaning of the Private Securities Litigation Reform Act.
The Private Securities Litigation Reform Act of 1995 (PSLRA)
implemented several significant substantive changes affecting
certain cases brought under the federal securities laws, including
changes related to pleading, discovery, liability, class
representation and awards fees. Since this information may involve
risks and uncertainties and are subject to change at any time, the
Company's actual results may differ materially from expected
results. Additional risks associated with Genetic Technologies'
business can be found in its periodic filings with the SEC.
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