- Predictive medical testing company Genetic Technologies (GTG) is fast-tracking its Consumer Initiated Testing (CIT) platform
- The company specialises in assessing a patient’s risk of medical conditions like cancer and diabetes based on their genetics
- Once a patient’s risk is assessed, lifestyle changes, medications, or frequent screening can be recommended
- The CIT platform means consumers can order a risk assessment test without having to go through a medical facility
- With the spreading coronavirus, this can ensure worried patients are still testing while easing the burden on clinicians
- Shares in Genetic Technologies are trading 20 per cent higher today at 0.6 cents each
Predictive testing specialist Genetic Technologies (GTG) has fast-tracked the launch of its Consumer Initiated Testing platform in light of the COVID-19 crisis.
Genetic creates products designed to assess a person’s genetic risk of contracting deadly conditions and diseases.
The company’s tech works out how at-risk a patient is for cancers, diabetes and other medical conditions. Based on the assessment, the products then recommend lifestyle changes, medications, or frequent screening.
Diagnose it yourself
Genetic said with the spreading coronavirus limiting its ability to properly engage with physicians, it has taken this opportunity to introduce a new product targeting sales directly to patients.
The Consumer Initiated Testing (CIT) platform lets patients request a testing kit with clinician oversight of the testing process.
Essentially, when a customer wants to order a test, a clinician will review the patient health history to confirm if they can go ahead with the order. This clinician will then order the test themself and review the test results once complete.
Genetic said the purpose of the CIT platform is to ease the burden on primary care clinicians, who are often overwhelmed by large patient volumes. This leads to short clinical visits and can sometimes mean patients don’t receive the full care they need — particularly if they are asymptomatic or visually healthy.
The overburdening of clinicians is even more rampant with the rapid spread of COVID-19. With the CIT platform, concerned patients can still be tested for certain diseases and assess their risk without having to worry about being in contact with clinicians or having certain key tests overlooked.
Breast cancer validation
The company announced in late-January it has fully commissioned its Australian Laboratory to provide its GeneType for Breast Cancer products.
Importantly, Genetic landed the first sales for the device over the last quarter.
While only roughly 50 test kits have been delivered so far, Genetic said four patients have already been identified as potentially being at high risk for developing breast cancer — patients which would have otherwise been considered healthy.
“It is highly significant that these patients were not eligible for hereditary mutation testing and would not have been identified as high risk during routine health checks,” the company explained.
For these patients, this opens the door for frequent testing and monitoring to ensure early detection and the best possible outcome is possible.
Based on the success of the Breast Cancer testing products, Genetic has now put GeneType for Colorectal Cancer on the market.
After today’s announcement, Genetic shares are trading 20 per cent higher at a modest 0.6 cents each. The company has a $24.38 million market cap.