Genetic Technologies - GENE STOCK NEWS

Gene's COVID-19 Risk Test has officially launched for sale in the US through its partnership with Infinity BiologiX (IBX). The test predicts COVID-19 severity using genetic and clinical data, aiming to inform treatment options and vaccination priorities for those aged 18 and over. IBX, with its capability to process 100,000 tests per day, will handle production and distribution. This initiative is positioned as a critical tool for employers, governments, and public health entities, helping to manage the pandemic effectively.

Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) announced that CEO Simon Morriss will appear on The RedChip Money Report® airing on the Bloomberg Network on May 15, 2021. The interview will cover key updates on the company's lead products, including GeneType for Breast Cancer and GeneType for Colorectal Cancer, as well as the Covid19 Risk Assessment test. Morriss will also discuss future milestones and product commercialization plans, which are critical for investor awareness.

Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) announces significant progress in the US commercial launch of its COVID-19 Serious Disease Risk Test in partnership with Infinity BiologiX LLC (IBX). The regulatory submission for the test has been completed, enabling commercial release by the end of May 2021. IBX's telehealth platform will facilitate testing, with a capacity for ~100,000 daily tests. The company aims to expand beyond the US market following necessary regulatory approvals, promising further updates on regional releases.

Genetic Technologies Limited (NASDAQ: GENE) has appointed Michael Tonroe as Chief Financial Officer, effective June 28, 2021. Tonroe brings over 25 years of experience in finance at both private and public companies, including substantial roles in the biotech sector. Chairman Peter Rubinstein expressed confidence that Tonroe's expertise in cross-border financial management will strengthen the company’s leadership team. Tonroe aims to enhance the in-house finance function to support Genetic Technologies' long-term strategy of transitioning to full commercialization in the molecular diagnostics space.

Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) announced progress on the US commercial availability of its COVID-19 Serious Disease Risk Test through Infinity BiologiX (IBX).

The validation and data analysis for the test have been completed, with IBX finalizing a technical interface for submission to the Centers for Medicare and Medicaid Services before commercial launch.

IBX, with three labs in New Jersey and Minnesota, is positioned to process over 100,000 tests daily, aiding in the risk assessment of serious COVID-19 cases using genetic and clinical data.

Genetic Technologies Limited (NASDAQ: GENE) has entered a three-year agreement with Infinity BiologiX LLC for co-exclusive production and distribution of its COVID-19 Serious Disease Risk Test in the U.S. Under the deal, IBX will pay a minimum of $2.9 million, including an upfront fee of $50,000, and is required to make minimum payments of $850,000 in the first year and $1 million in each of the subsequent years. IBX's labs can process over 100,000 tests daily, enhancing GTG's test market reach amidst the ongoing pandemic.

Genetic Technologies Limited (NASDAQ: GENE) announced that Dr. George Muchnicki, Chief Medical Officer, will be featured on The RedChip Money Report on Bloomberg TV, airing on February 27. The interview highlights the company’s cancer predictive tools and global market opportunities in genetic testing. Dr. Muchnicki will discuss the upcoming milestones and the potential for Covid-19 serious disease risk testing. The company aims to enhance proactive health management through its risk assessment products, including Germline panel testing for various diseases.

Molecular diagnostics company Genetic Technologies Limited (NASDAQ:GENE) is making strides in developing a Polygenic Risk Score (PRS) test for COVID-19, aimed at assessing the risk of severe disease from the virus. Key updates include the completion of a prototype, a clinical risk model, and a combined risk model. The company has also filed a provisional patent and is in talks for pilot studies. Further development relies on sourcing validation data from Europe. The test is expected to assist in guiding quarantine measures and vaccination prioritization, with an anticipated US release in Q4 2020.

Genetic Technologies Ltd (NASDAQ: GENE) has announced the launch of its GeneType for Breast Cancer Risk Assessment test in the U.S. through the elicity telehealth platform. Priced at $249, the test uses clinical risk factors and Polygenic Risk Scores to estimate breast cancer risk for women without a family history of the disease. The platform is HIPAA-compliant, ensuring secure access to health data. The test aims to empower women with personalized health insights, especially in light of decreased standard check-up rates during COVID-19.