GTG Launches Revolutionary geneType Test covering 100% Risk of Breast and Ovarian Cancer
May 29 2024 - 8:00AM
Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company”,
“GTG”), a global leader in genomics-based tests in health, wellness
and serious disease,
is pleased to announce the Company has released
its novel Comprehensive Risk Assessment test that covers 100% of
women at risk of developing breast and ovarian cancer. The
innovative test, available to all women above the age of 30,
assesses a woman’s risk of cancer due to hereditary, including
those with common gene mutations, and sporadic disease.
Launched at the inaugural “Know Your Risk” event
in California, USA, the event provided invaluable insights of the
role of genomics in women’s health. Co-hosted by Dr Kristi Funk,
known for her surgical treatment of celebrity Angelina Jolie,
alongside CEO & Founder of Humanise Health, Krystal Barter, the
event also featured panellists such as US based OB-GYN Dr. Carolynn
Young, Andrea Hans, Allyn Rose Oertel, and Matthew Zachary.
This new geneType Comprehensive Risk Assessment
test represents a significant leap in preventative healthcare,
whereby clinicians will have a complete understanding of their
patient’s risk profile of developing one of the deadly cancers. The
addition of the germline component to GTG’s platform provided the
ability to screen 100% of women at risk. Retrospective data shows
5% to 10% of breast and ovarian cancers are caused by gene
mutations and the remainder are due to sporadic condition.
This represents a massive market opportunity for
geneType, with 1 in 8 chances of a woman in the US developing
breast cancer equating to about 310,000 diagnosed cases annually.
Although less prevalent, ovarian cancer accounts for 19,600 cases
diagnosed yearly in the US and claims 12,700 deaths annually.
Ovarian cancer is more deadly and is among the leading cause of
cancer deaths in women¹. Dr Kirsti Funk noted that “Understanding
your cancer risk based on critical diet and lifestyle and genetic
factors allows me to create a more directed, effective
risk-reducing strategy.²”
This advancement in personalised preventative
healthcare, was welcomed by the company’s strategic partners in
employer groups, functional medicine clinics and existing physician
networks. The OB-GYNs are overwhelmingly excited about this launch
and expressed their satisfactions on the abilities of our new
comprehensive test for early diagnosis and ultimately saving
lives.
GTG’s CEO, Simon Morriss, said “We are
incredibly proud to have been part of this ‘Know Your Risk’ event
which underscored the importance of genetic testing and risk
assessment in transforming women’s health, inspiring attendees to
advocate for their health and well-being proactively. We are also
very fortunate and to have the opportunity to launch this unique
risk assessment test in the presence of such a wonderful group of
people”.
Peter Rubinstein, GTG’s Chairman commented, “We
are also excited to announce that in preparation for significant
demand for this revolutionary test we have fully onboarded a high
throughput automated laboratory in the United States with capacity
to scale up to run 100,000 tests per month should future demand
require. Every woman deserves the right to know her risk”.
For more information, please visit
www.genetype.com.
Authorised for release by the Board of
Directors.
EnquiriesSimon
Morriss Chief Executive Officer
E: investors@genetype.com
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
Forward-Looking Statements
This announcement 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. As 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 with the ASX 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.
_____________________________¹ https://www.cancer.org/cancer/types/ovarian-cancer/about/key-statistics.html² https://www.instagram.com/p/C7XX-sKygdG/?utm_source=ig_web_copy_link
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