Genetic Technologies and The Translational Genomics Research Institute of Phoenix, Arizona Sign Memorandum of Understanding
April 15 2019 - 9:00AM
Genetic Technologies Limited (ASX:GTG) (NASDAQ: GENE) (“Company”),
a provider of world-leading genetic risk assessment test products,
is pleased to announce that it has now established a Memorandum of
Understanding (MoU) with The Translational Genomics Research
Institute (TGen). TGen is an Arizona-based, non-profit biomedical
research institute dedicated to conducting ground-breaking research
with life-changing results.
TGen works to unravel the genetic components of common and
complex diseases, including cancer, neurological disorders,
infectious disease, and rare childhood disorders. TGen is
affiliated with City of Hope in Duarte, California, a
world-renowned independent research and treatment center for
cancer, diabetes, and other life-threatening diseases.
Key Features of this MoU between GTG and TGen:
- GTG and TGen will cooperate in the development of a
commercialization strategy and infrastructure development for a
suite of polygenic risk tests to be made available in the US
market; and
- Establish any fundraising mechanisms to achieve the above.
The terms of the Agreement are confidential, however key
features include that GTG and TGen will cooperate in the
development of a commercialization strategy and infrastructure
development for a suite of polygenic risk tests to be made
available in the US market and establish any fundraising mechanisms
to achieve the above.
The infrastructure development will include the establishment of
a co-managed US-based CLIA laboratory and provision of the new test
portfolio to a major US health provider.
In order to achieve these initial goals, GTG and TGen will
collaborate on a number of matters. The first priority will be to
establish a US-based CLIA laboratory. This will involve, inter
alia, defining the legal and corporate structure of the
collaboration. It will also involve the transfer of GTG’s know-how
in this area.
Genetic Technologies’ Chairman, Dr Paul Kasian, said, “We are
excited to be working with such a prestigious organization as TGen
in bringing our current and developing future polygenic risk tests
to the US market.”
The US-based laboratory will offer GTG’s existing and future
tests. This will include oncology polygenic risk tests for breast
cancer, colorectal cancer, prostate cancer, and melanoma. Other
tests will also be considered over time. The non-oncology tests to
be offered will include cardiovascular disease and diabetes.
“The portfolio of polygenic risk tests developed by GTG opens a
new pathway for helping individuals make informed decisions when it
comes to improved personal health and prevention,” said David
Duggan, Ph.D., associate professor of TGen. “We look forward to
working with GTG to expand these opportunities in the US
market.”
FOR FURTHER INFORMATION PLEASE CONTACT
Dr Paul KasianChairman and
Interim CEOGenetic Technologies+61 3 8412 7000 |
Mr Paul VineyCOO, CFO and
Company SecretaryGenetic Technologies+61 438 072 616 |
Investor Relations and Media -
AustraliaKarinza
PhoenixStocksDigital+61 428 981
074karinza@stocksdigital.com |
Investor Relations and Media –
USAMr Dave
GentryRedChipOffice:
1.800.RED.CHIP (733-2447) Cell:
407.491.4498Dave@RedChip.com |
About Genetic Technologies
Limited
Genetic Technologies 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
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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