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Genetic Technologies surges after colorectal and breast cancer genetic risk tests

The breast cancer and colorectal tests will provide healthcare providers and their patients with risk assessments of the patient developing breast cancer.

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Shares surged by around 70% to 1.2 cents in intra-day trading

Genetic Technologies Limited (ASX:GTG) has completed and validated two ground-breaking cancer risk assessment tests for colorectal and breast cancer.

This breakthrough follows substantial scientific research and genetic product development with investors respondings positively.

Branded as ‘GeneType for Colorectal Cancer’ and ‘GeneType for Breast Cancer’, the tests combine information from genetic markers called Single Polymorphisms.

These markers assess how people’s genetic make-up affects their risk of developing various diseases.

The company’s heavily patented approach to incorporating clinical risk information places it at the forefront of the global risk assessment space.

Test allow government leaders to target “most high-risk patients”

Genetic Technologies chairman and acting CEO Paul Kasian said: “These tests allow government health leaders to target future screening to the most high-risk patients - massively reducing health system costs.

“GTG’s proactive approach to disease management has the potential to save both lives and money by allowing the earlier detection of disease and focusing the use of healthcare resources to those most in need.”

Genetic testing is “a growing industry”

Kasian added: “I am very proud of our world-class scientific team – genetic testing is a growing industry and it is remarkable that the team has maintained thought and product development leadership in this competitive space.”

The breast cancer test provides substantial improvement over GTG’s legacy breast cancer test (previously called BREVAGENplus) by incorporating multiple clinical risk factors.

 

The colorectal test evaluates the genometric risk of developing colorectal cancer for men and women over age 30 who do not have a known pathogenic gene variant.

GTG’s scientific and product development will refocus on its future pipeline of new tests following the completion of the colorectal and breast cancer tests.

 

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ASX:GTG
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