+++++++++++++++++++++++++ Genetic Technologies Limited (GTG-ASX) is pleased to announce it has granted a license to its non-coding patents to Associated Regional & University Pathologists (ARUP), Inc, of Salt Lake City, Utah, in USA.
ARUP is a sophisticated laboratory system owned by University of Utah. It performs an extensive range of pathology and genetic tests, some for its own research and teaching purposes, but much of it also for commercial service testing. This license is the first one granted by GTG to a service provider - that is, to a laboratory actually performing a wide range of genetic tests, some of which require access to GTG's inventions and patents.
The license takes effect from March 31st 2003, and ARUP now pays GTG an up-front fee of US$75,000 (approx A$125,000).
Negotiations with other service testing laboratories are also in progress, and further details will be provided as appropriate.
Dr M Jacobson EXECUTIVE CHAIRMAN
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