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- Genetic Technologies is entering a collaboration agreement with biomedical researchers TGen
- The agreement will see the companies conduct clinical studies trialling Genetic Technologies’ breast and colorectal cancer risk assessment tests
- Shares in Genetic Technologies remained flat today and are currently trading at 0.5 cents apiece
Dually listed Genetic Technologies is entering a three year collaboration agreement with Arizona-based biomedical researchers TGen.
Under the agreement, the companies will work collectively on clinical studies to trial Genetic Technologies’ personalised breast cancer and colorectal cancer risk assessment tests.
Upon completion, the studies are expected to deliver clinical evidence in favour of using Genetic Technologies’ risk assessment products as a “routine tool in predicting individual disease risk,” according to the company.
“The GeneType Breast and Colorectal Cancer risk prediction tests have the potential to personalize clinical management,” Associate professor of TGen David Duggan said.
“Results from these studies are expected to positively affect clinical decision-making for a sizeable number of patients,” David added.
Specific terms of the agreement will remain confidential, however, the companies will work on design and studies for a number of risk assessment tests of common diseases. It is intended the risk assessment tests will be made available on the U.S. market.
Genetic Technologies’ Chief Scientific Officer Dr Richard Allman said: “The clinical utility studies we envisage are intended to translate our GeneType tests into daily clinical use.”
The two companies are seeking clinical partners to participate in the study.
On the ASX, shares in Genetic Technologies has remained flat as of the market close, trading at 0.5 cents apiece. In the States, the company’s last closing price on NASDAQ is US$2 per share.
