Genetic Technologies Limited Announces Further Collaborative Research with The University of Melbourne to Broaden the Applica...
March 16 2018 - 5:00AM
Genetic Technologies Limited (ASX:GTG) (Nasdaq:GENE) (“Company”), a
diversified molecular diagnostics company embracing blockchain
technologies across genomic testing platforms, announced today the
execution of a research and services agreement with The University
of Melbourne for the further development and enhancement of the
BREVAGenplus breast cancer risk assessment test.
The execution of this agreement is an important
first step as the Company seeks to actively expand its strategic
partnerships and develop a pipeline of new genomic tests. Further
details of the Company’s product development pipeline will be
released in due course, but it will expand upon the existing breast
cancer risk test and the colorectal cancer risk test currently
under development as the Company’s scientific strategy is
reinvigorated.
Whilst the terms of the agreement are
confidential, the work will be a continuation of the substantial
research program led by Prof John Hopper and his research team
within the Centre for Epidemiology and Biostatistics at The
University of Melbourne. The research is designed to broaden the
applicability of the BREVAGenplus breast cancer risk assessment
test enabling its use by women with an extended family history of
disease and will also increase the range of risk factors analyzed.
The collaboration is designed to further improve physicians’
ability to manage breast cancer by improving the accuracy of risk
prediction.
Breast cancer is the most common form of cancer
affecting women and approximately one in eight women in both the
USA and Australia will develop the disease in their lifetime.
Targeted application of current chemoprevention, screening and
lifestyle prevention measures based on the new risk assessment test
could further improve outcomes for breast cancer. The agreement
leverages the world-class research being conducted by the
University of Melbourne and further strengthens the ongoing
research collaboration.
Prof John Hopper, Director (Research) of the
Centre for Epidemiology and Biostatistics stated that; “This
Research Agreement provides us with the basis to translate our
scientific work into the clinical arena. Risk stratification of
patients to improve breast cancer screening and prevention has
significant potential upside benefit for both women and the health
system.”
Genetic Technologies’ Scientific Director,
Richard Allman commented; “I am extremely pleased with the
execution of this agreement as we seek to enhance our portfolio of
proprietary risk assessment products. In addition to our colorectal
cancer test under development, this represents the Company’s
continued commitment to the development of SNP based genetic
resources.” Preliminary data from the study is expected to be
available in the second quarter of 2018.
FOR FURTHER INFORMATION PLEASE CONTACT
Dr Paul Kasian Director &
Interim CEO Genetic Technologies Limited + 61 3
8412 7000
Jason Wong (USA)Blueprint Life Science Group+1
(415) 375 3340, Ext. 4
About The University of
Melbourne
Founded in 1853, The University of Melbourne is
an internationally recognised, research-intensive university with a
strong tradition of excellence in teaching, research and community
engagement spanning more than 160 years.
Its outstanding performance in international
rankings puts The University of Melbourne at the forefront of
higher education globally. It is ranked number 1 in Australia by
the Times Higher Education World University Rankings and 32nd
worldwide. Melbourne’s position as Australia’s top University has
also been reaffirmed in the 2017 Shanghai Jiao Tong rankings, in
which it has moved up to 39th in the World.
The University is uniquely located on the fringe
of the city of Melbourne’s central business district. It serves as
a hub for the Parkville research precinct – one of the world’s
leading centres of medical and biotechnological research.
About 50,000 of the best and brightest students
from around the globe come to study at the University of
Melbourne.
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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