Skip to main content

Market Overview

Genetic Technologies' COVID-19 Risk Test Now Available in US through Partnership with Infinity BiologiX

Share:

Key Highlights:

  • Gene's COVID-19 Risk Test released for sale in the US through IBX
  • Designed to predict disease severity to assist in informing decisions about disease risk, treatment options and vaccination priorities
  • IBX have extensive experience with large-scale COVID testing with processing capacity for 100,000 risk tests per day
  • COVID-19 Risk Test is applicable for men and women ages 18 years and over

MELBOURNE, Australia, June 01, 2021 (GLOBE NEWSWIRE) -- Genetic Technologies Limited ((ASX: GTG, NASDAQ:GENE, "Company", "GTG")), a diversified Genomics and AI-driven preventative health business, is pleased to announce the official launch of its COVID-19 Serious Disease Risk Test (‘COVID-19 Risk Test') in the US through its partnership with Infinity BiologiX LLC (‘IBX'). IBX will produce, distribute, and sell GENE's test across its established network, https://ibx.bio/services/covid-19-severity-test/

Designed to predict disease severity using genetic and clinical information the test provides a risk score to help individuals aged 18 years and over to understand their personal risk of contracting a serious case of COVID-19. In addition, employers, governments, and other public health entities may use the data to make informed decisions about disease risk, treatment options, and vaccination priorities. This will assist in guiding proactive steps to minimize disease exposure and manage the pandemic in the weeks and months ahead.

"This is a fantastic milestone for our team," commented Simon Morriss, CEO of Genetic Technologies. "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. 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.

Extensive experience with large-scale COVID testing and sample processing made IBX a clear choice for this endeavor. Through its labs in New Jersey and Minnesota and with partner organizations around the US, the company is able to process over 100,000 risk tests per day.

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.

Developed by GENE, the COVID-19 risk test will be distributed and sold in the US by IBX, released under GENE's ‘powered by GeneType' brand, and is applicable to men and women ages 18 and up. IBX will determine sales and end consumer pricing structure for the risk test and will produce, distribute, and market it in the US.

   
Investor Relations (AUS)
Stephanie Ottens
Market Eye
M: +61 434 405 400
E: stephanie.ottens@marketeye.com.au 
Investor Relations and Media (US)
Dave Gentry
1 800 RED CHIP (733 2447)
Cell: 407 491 4498
E: dave@redchip.com 

About Genetic Technologies Limited
Genetic Technologies Limited ((ASX: GTG, NASDAQ:GENE) is an Australian based diversified molecular diagnostics company. GENE 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 based on a world leading technology platform created over the past 10 years.

For more information, please visit www.genetype.com

About Infinity BiologiX LLC:
Infinity BiologiX (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 previously operated as RUCDR Infinite Biologics before spinning off from Rutgers University-New Brunswick in August 2020.

For more information, visit www.ibx.bio

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.


Primary Logo

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com