Genetic Technologies Provides Update on COVID-19 Risk Test Launch
April 09 2021 - 11:15AM
Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company”,
“GTG”), a diversified Genomics and AI driven preventative health
business provides an update to the market on the progress of the US
commercial availability of the Company’s COVID-19 Serious Disease
Risk (“COVID-19 Risk Test”) via US Based Infinity BiologiX LLC
(‘IBX’), (ref: ASX Announcement 3 March 2021).
Genetic Technologies advises that the Company has completed all
validation and data-based analysis for the COVID-19 Risk Test. IBX,
our US based distribution partner is currently completing the
technical interface with their telehealth partner for the
commercial availability of the COVID-19 Risk Test across the United
States.
The technical interface is a requirement for the submission to
Centres for Medicare and Medicaid Services (‘CMS’), with submission
required prior to the commercial release of the COVID-19 Risk Test
by IBX.
IBX has three well-established labs, with two in New Jersey and
one in Minnesota and a network of COVID-19 testing partners, with
access to testing sites across the country providing a clear
pathway for the sale and distribution of GTG’s COVID-19 Risk
Test.
GTG’s COVID-19 Risk Test may enable the risk assessment of an
individual developing a serious disease should they contract the
COVID-19 virus. The COVID-19 Risk Test is intended to predict
‘disease severity’ using a combination of genetic and clinical
information.
“Our COVID-19 Risk Test is a crucial product that will provide
individuals with the ability to understand their personal risk
associated with contracting a serious case of this disease,”
commented Simon Morriss, CEO of GTG. “Alongside existing treatment
options and vaccines, we believe this test will enable more
insightful decisions for states, workplaces and individuals on
pathways forward in managing this pandemic.”
IBX is a market-disrupting central laboratory supporting
academia, government, and industry. IBX provides global sample
collection, processing, storage, and analytical services integrated
with scientific and technical support in both the research and
clinical arenas. As a leader in biomaterials, IBX provides support
to the development of diagnostics, therapeutics, and research in
the genomics, precision, and regenerative medicine arenas.
IBX launched its COVID-19 saliva-test in May 2020, after
receiving FDA Emergency Use Authorization. It was the first test to
utilize saliva as the primary biomaterial for SARS-CoV-2, and IBX
subsequently became the first company to offer an at-home
collection with this approach.
IBX currently has the capacity to process over 100,000 COVID-19
Risk Tests per day across its two major labs and is well-positioned
with an existing network of SARS-CoV-2 testing partners and
associated medical practitioners across the US to be able to use
GTG's COVID-19 Risk Test in conjunction with these existing
third-party SARS-CoV-2 Tests.
Further updates will be provided in due course.
Authorised by the Board of Genetic Technologies
Investor Relations (AUS) |
Investor Relations and Media (US) |
Stephanie Ottens |
Dave Gentry |
Market Eye |
1 800 RED CHIP (733 2447) |
M: +61 434 405 400 |
Cell: 407 491 4498 |
E: stephanie.ottens@marketeye.com.au
|
E: dave@redchip.com |
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 is
developing a pipeline of risk assessment products.
For more information, please visit www.gtglabs.com
About Infinity BiologiX:
Infinity BiologiX (IBX) is a market-disrupting next-generation
central laboratory supporting academia, government, and industry.
IBX provides global sample collection, processing, storage, and
analytical services integrated with scientific and technical
support in both the research and clinical arenas. As a leader in
biomaterials, IBX provides support to the development of
diagnostics, therapeutics, and research in the genomics, precision,
and regenerative medicine arenas. IBX previously operated as RUCDR
Infinite Biologics before spinning off from Rutgers University-New
Brunswick in August 2020.
For more information, visit www.ibx.bio
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