US Patent Office Grants Foundational Pharmacogenomic Patent
June 11 2021 - 8:00AM
Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company”,
“GTG”), a diversified Genomics and AI driven preventative health
business, has been granted US Patent No. 11,031,098 – ‘Computer
Systems and Methods for Genomic Analysis’.
The patent application was submitted in 2016, building on a
patent family dating back to 2001 and was recently granted to
Genetic Technologies and demonstrates an important addition to
Genetic Technologies portfolio of intellectual property. The length
of time for the patent grant highlights the challenging climate in
the United States for the granting of genetic and biotech patents
in recent years and is therefore a significant milestone for the
Company.
This builds on the previous patent granted in June 2020 for
‘Methods for assessing risk of developing breast cancer’ - No: US
10,683,549. (ref: ASX: release 18 June, 2020) and extends the
protection of our portfolio beyond breast cancer for future
products.
The patent describes efficient methods for identifying
variations that occur in the human genome and relating those
variations to the genetic basis of disease and drug response. The
methods form the basis of Genome-Wide Association Studies (GWAS),
particularly those focused on identifying single nucleotide
polymorphisms associated with drug response ie. pharmacogenomic or
pharmacogenetic markers.
Genetic Technologies CEO, Simon Morriss, said, “This is another
great achievement for the team, in this case, it’s a testament to
the underlying expertise of our in-house scientists in navigating a
particularly challenging patent pathway through the United States
Patent and Trademarks Office (USPTO).”
The application and utilization of this patent forms the
foundation of a single test covering multiple serious diseases,
known as the multitest, that will cover more than 70% of current
known mortality and morbidities. This is in the final stages of
development currently scheduled for release in Q4 CY21.
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
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