Genetic Technologies Expands Operational Capacity in North America
CHARLOTTE, N.C., June 18, 2024 (GLOBE NEWSWIRE) -- Genetic Technologies Limited ((ASX: GTG, NASDAQ:GENE, "Company", "GTG")), a global leader in genomics-based tests in health, wellness and serious disease, today announces the start of testing operations in the United States for its revolutionary geneType™ genetic risk assessment product series.
GeneType's multi-patented, clinically validated tests will now be performed by Gene by Gene, a premier specialty genetic laboratory based in Houston, Texas, a state-of-the-art, highly accredited laboratory (CLIA, CAP, AABB and CDPH licensed). Gene by Gene's ability to process up to 25,000 tests per month greatly increases geneType's operational capacity in North America. The lab's location in central US will also shorten the turn-around time for samples sent in from North America. Together with the company's recent distribution agreement with health and wellness technology leader Stay Healthy, Inc. ("Stayhealthy"), geneType is poised for exponential growth across North America.
Stemming from its significant contributions to the Human Genome Project nearly 20 years ago, GTG pioneered and patented the burgeoning area of genetic testing known as polygenic risk score (PRS). By combining PRS with clinical risk models, the company has refined a suite of integrated genetic testing and assessment tools designed to assess an individual's risk for serious disease and ultimately enable actionable recommendations to help mitigate that risk.
Since the first geneType assessment for breast cancer was developed, in 2022 after 20 years of research, the company has developed a Multi–Risk test which is a comprehensive suite of the most innovative tests for nine specific diseases (as one non-invasive cheek swab) evaluating risk for metabolic, cardiovascular, and oncological diseases, covering 70 percent of annual mortality and morbidities. Clinical-grade assessments for new cancers and chronic conditions are in development. GeneType's non-invasive, saliva-based tests are clinically validated and regulatory approved.
"As personalized medicine and health-consciousness continue to trend upwards, we are confident that the uniquely integrated, highly accurate geneType test will continue to meet the rising demand for personalized, actionable health information," said Simon Morriss, CEO of Genetic Technologies. "Our collaboration with Gene by Gene and Stayhealthy solidifies the infrastructure needed to deliver that information so that individuals and healthcare providers in North America can take control of their health."
Stayhealthy's partnership with geneType will bring geneType's innovative suite of tests to a broader consumer base through employee health benefits and online pharmacy channels across the US and Canada. In 2023, Stayhealthy launched a Direct to Consumer (DTC) online discount pharmacy card and website with access of up to 1.5 million users and a Business to Business to Consumer (B2B2C) with Level 5 Section 125 (cafeteria) plan for employers and workers. With a database of over 200 million U.S. email addresses, Stayhealthy is well-positioned to promote geneType's portfolio of personalized health risk assessments across North America.
John Collins, CEO of Stayhealthy, stated, "Our mission at Stayhealthy is to empower individuals to take control of their health. GeneType's non-invasive, predictive genetic testing not only complements our mission; it also integrates perfectly with our technology."
For more information, please visit GeneType.com, GenebyGene.com, and Stayhealthy.com.
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About Genetic Technologies Limited
Genetic Technologies Limited ((ASX: GTG, NASDAQ:GENE) is a diversified molecular diagnostics company. A global leader in genomics-based tests in health, wellness and serious disease through its geneType and EasyDNA brands. GTG offers cancer predictive testing and assessment tools to help physicians to improve health outcomes for people around the world. The company has a proprietary risk stratification platform that has been developed over the past decade and integrates clinical and genetic risk to deliver actionable outcomes to physicians and individuals. Leading the world in risk prediction in oncology, cardiovascular and metabolic diseases, Genetic Technologies continues to develop risk assessment products. For more information, please visit www.genetype.com
About Gene by Gene
Gene By Gene is a world leader in genetic testing services with over 20 years of experience. Our laboratory holds accreditation from multiple agencies, including CAP, CLIA, New York State Department of Health, California Department of Public Health, and AABB. With a cutting-edge laboratory and highly trained team of experts, we are committed to excellence in the field of genetic analysis. www.genebygene.com
About Stayhealthy
Founded in 1995, Stayhealthy Inc. is a healthcare technology company that has brought together the most advanced tools to measure, track and change millions of users' health and wellness status. With its diverse team of experts and creative minds from medicine, science, technology, media, advertising, and design, Stayhealthy has launched mobile platforms with a robust suite of personalized healthcare apps. These offerings are differentiated not only through their highly accurate, clinically valid screening tools but with their dynamic use of augmented reality images created using patented technology, as a way to add further emotional impact. www.stayhealthy.com
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