Genetic Technologies Announces US Sales Have Commenced via Online Health Platform
September 11 2020 - 8:33AM
Molecular diagnostics company Genetic Technologies Ltd (ASX: GTG;
NASDAQ: GENE, “Company”) is delighted to announce that initial
sales of its GeneType for Breast Cancer Risk Assessment have now
commenced in the United States via an online health platform,
elicity by InTeleLabs, an independent telehealth and personalised
medicine company. This portal is secure, Health Insurance
Portability and Accountability Act (HIPAA)-compliant.
The secure, Health Insurance Portability and Accountability Act
(HIPAA)-compliant health platform enables women meeting the
required criteria in the United States to purchase the test and
receive results via telehealth clinicians. Its national network of
clinical oversight for lab testing has made this groundbreaking
Breast Cancer Risk Assessment Test very accessible, with the
data-driven results enabling more women to discuss personalised
preventative healthcare protocols with their physicians.
GeneType for Breast Cancer is a disease risk prediction test
that provides results that inform individuals if they are at low-,
average- or high-risk of developing breast cancer. The test uses a
patented combination of clinical risk factors and Polygenic Risk
Score (PRS) to provide an estimate of the five-year and remaining
lifetime risk of developing breast cancer.
The test will be available in every State throughout the US, as
the Company has CLIA certification for the sale and processing for
all its lab-derived tests. GeneType for Breast Cancer will sell for
US$249 and include the telemedicine consultations through
InTeleLabs.
Most tests currently available on the market are for women who
have a family history of breast cancer, however 85 per cent of
women have no family history of breast cancer, according to the
American Society of Clinical Oncology. Further to this, 10 per cent
have a family history but no pathogenic variants, such as BRCA
[Cancer.Net, July 2020].
“The Company’s GeneType for Breast Cancer is uniquely positioned
to provide risk assessment to the general population—not just for
women at hereditary risk. Our goal was always to give individuals
unprecedented access to their own genetic data to understand their
health risks and take a more proactive approach to prevention,”
said Genetic Technologies CEO Dr George Muchnicki. “GeneType for
Breast Cancer outperforms current standard risk assessment tools,
giving clinicians and patients a better way to identify at-risk
women for additional breast cancer screening and prevention
options. Making this test available via telehealth clinicians gives
individuals interested in risk assessment another avenue for
access.”
Once a woman is qualified by an independent telehealth
clinician, a buccal swab kit (cheek swab) is sent directly to her
home. After her results are in, telehealth clinicians provide
post-test consultations to deliver the breast cancer risk
assessment results and provide additional support for those who
require referrals for appropriate downstream care. Women interested
in purchasing GeneType for Breast Cancer may do so through
gtglabs.com/breast-cancer or
elicity.health/our-tests/details/breast-cancer-risk.
“COVID-19 has deterred many women from seeking out standard
check-ups, with mammography screening down since March,” said Dr
Muchnicki. “While we suggest all women maintain their routine
mammogram appointments, women who are still not comfortable
scheduling their appointment, or clinics with an extremely long
waitlist as they ramp back up, risk assessment can be a valuable
tool to identify women who are at increased risk of breast cancer.
GeneType for Breast Cancer should never be used as a
mammogram-replacement, only as an additional tool to help
individuals build a more comprehensive understanding of their own
risk of developing the disease.”
In addition to GeneType for Breast Cancer, GeneType for
Colorectal Cancer will also be available through the third-party
online platform as well as a pipeline of tests to follow.
Genetic Technologies plans on launching its own online,
telehealth-supported system to deliver its GeneType products to
Australians.
The Company intends to make its COVID-19 Severity Risk Test
available through both online platforms, once complete.
For further information, please visit:
https://genetype.com/for-patients/breast-cancer-questionnaire/.
Dr George Muchnicki Acting CEO and Justyn Stedwell Company
Secretary On behalf of the Board of Directors Genetic Technologies
Limited +61 3 9412 7000
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 for non-hereditary breast cancer and
GeneType for Colorectal Cancer are clinically validated risk
assessment tests and are first in class.
Genetic Technologies has capacity for Covid-19 testing and is
developing a pipeline of risk assessment products.
For more information, please visit www.gtglabs.com.
Forward-Looking Statements
This press release may contain forward-looking statements about
the Company’s expectations, beliefs or intentions regarding, among
other things, statements regarding the expected use of proceeds. In
addition, from time to time, the Company or its representatives
have made or may make forward-looking statements, orally or in
writing. Forward-looking statements can be identified by the use of
forward-looking words such as “believe,” “expect,” “intend,”
“plan,” “may,” “should” or “anticipate” or their negatives or other
variations of these words or other comparable words or by the fact
that these statements do not relate strictly to historical or
current matters. These forward-looking statements may be included
in, but are not limited to, various filings made by the Company
with the U.S. Securities and Exchange Commission, press releases or
oral statements made by or with the approval of one of the
Company’s authorized executive officers. Forward-looking statements
relate to anticipated or expected events, activities, trends or
results as of the date they are made. Because forward-looking
statements relate to matters that have not yet occurred, these
statements are inherently subject to risks and uncertainties that
could cause the Company’s actual results to differ materially from
any future results expressed or implied by the forward-looking
statements. Many factors could cause the Company’s actual
activities or results to differ materially from the activities and
results anticipated in such forward-looking statements as detailed
in the Company’s filings with the Securities and Exchange
Commission and in its periodic filings in Australia and the risks
and risk factors included therein. In addition, the Company
operates in an industry sector where securities values are highly
volatile and may be influenced by economic and other factors beyond
its control. The Company does not undertake any obligation to
publicly update these forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
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
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