GeneType Clinicians’ Adoption Growing - Sales up 5-Fold Year on Year

MELBOURNE, Australia, April 16, 2024 (GLOBE NEWSWIRE) -- Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company”, “GENE”), a global leader in genomics-based tests in health, wellness and serious disease, is pleased to share the company’s latest milestones along with our clinical adoption of the Company’s groundbreaking geneType Risk Assessment Tests routinely across 12 states in the United States and nationally in Australia.

The geneType team has achieved clinical proof of concept in key markets including general practice, oncology, and gynecology with repeat sales in each of these markets.

Increasingly clinicians are realising the importance of genetic screening for disease, particularly in at risk patients. The ability to “know” a patient’s risk provides clinicians with an opportunity to offer a greater standard of care and more closely monitor those at risk. Clinicians embracing and offering geneType to patients have tended to be:

• Early adopters
• Comfortable with new technology
• Focussed on offering patients the best available care; and
• Comfortable with explaining results to patients.

Clinical adoption of geneType is now in more than 12 US States, Canada and nationally in Australia. Commercial tests received for the 6 months ending March 31, 2024 increased 543%, when compared with the same period last year, demonstrating the company is well on a pathway to profitability. This adoption and clinical utility demonstrate clinicians’ commitment to offering an improved standard of care to patients and willingness to adopt new technology into clinical practice. The ability to identify and predict a patient’s risk of cancer empowers clinicians and patients, providing actionable insights into individuals' threat of developing disease, enabling personalized surveillance resulting in early detection, improved patient outcomes and a potential reduction in healthcare costs.

The geneType test is powered by combining cutting-edge genetic analysis and clinical factors with state-of-the-art AI and machine learning techniques to offer clinicians unparalleled insights into patients' risk of disease.

Rockville Maryland based Dr Carolyn Young, a board-certified Obstetrician and Gynecologist, commented: “There are two common misconceptions in breast cancer risk. Firstly, women think they are at low risk because they have no family history and secondly if they find out they are at high-risk there is nothing they can do about it. In both cases this is incorrect; family history accounts for only about 10-15% of breast cancer risk, the balance, 85-90% is sporadic and non-hereditary. By knowing your risk there are number of things a patient can do to decrease that risk, including changes to lifestyle, increased screening such as breast MRI in conjunction with mammography and finally, risk reducing medications. Using the geneType breast cancer risk assessment test I can help my patients understand these risks and deploy a range of actions to improve outcomes for them.”