Genetic Technologies Limited (ASX: GTG) is set to boost access to its geneType personalised risk tests – which enable assessment for breast cancer, colorectal cancer, ovarian cancer, prostate cancer, coronary artery disease, among others – with this being launched globally on the company’s EasyDNA platform.
The platform – established 17 years ago – has a product range including paternity testing, animal health, general consumer health and wellness, and is available in more than 42 countries.
Genetic Technologies is hoping that as well as leveraging the geneType’s accessibility to more customers, its presence on the EasyDNA platform will also deliver a gross margin of more than 70%.
Profitability targeting is a key focal point here, with the company aiming to reach this by reducing its cash spending from A$800k to A$200k a month.
The addition of geneType to the EasyDNA platform allows the company to build on work already done to grow consumer interest in the latter platform, especially through the Influencer campaigns and Stayhealthy initiatives in the United States.
EasyDNA’s platform revolves around providing clinicians and customers with a streamlined online process to facilitate information about clinical tests, and has been realised in conjunction with partners Nest Genomics, DNA Nexus, DNA Visit, Gene By Gene and Fabric Genomics.
Genetic Technologies shares have been trading at 4.1 cents.