New Precision Oncology Tests to Drive Personalised Therapies and...

New Precision Oncology Tests to Drive Personalised
Therapies and Improved Treatment Outcomes
Melbourne, Australia, April 17, 2024 Genetic Technologies Limited (ASX:
GTG; NASDAQ: GENE, “Company”, “GTG”), a global leader in genomicsbased tests in health, wellness and serious disease, is pleased to
announce the Company has established a precision oncology division
and announced its highly anticipated portfolio of new diagnostic tests
under its geneType precision oncology brand.
The proprietary-developed tests will provide invaluable information to
medical oncologists, helping determine which therapies will have the
most efficacious impact in treating a range of cancers including,
melanoma, lung, pancreatic, colorectal, breast, ovarian and brain
cancers.
• Huge market opportunity for this advanced portfolio of
methylation, mutation and liquid biopsy tests.
• Earlier detection of a range of cancers leads to significantly
improved patient outcomes.
• These new tests will transform oncology diagnostics, companion
diagnostics, and disease monitoring.
• A guideline-driven approach for reimbursement makes tests
accessible and affordable for patients.
The global liquid biopsy and methylation market has a combined
valuation of over USD 11 billion. The portfolio will include methylation
tests, developed in collaboration with the University of Melbourne
Department of Surgery, which identify unique features of the cancer such
as methylation patterns. The range will also include solid tumour
mutation tests to identify the molecular signature of tumours and detect
mutations, and liquid biopsy tests to monitor disease progression.
According to Grand View Research (GVR), the global genomics market in
2023 was valued at USD 32.65 billion and projected a compound annual
growth rate (CAGR) of 16.5% from 2024 to 2030. The firm back in 2021,
estimated the DNA methylation market at USD 1,242.5 million and with a
CAGR of 14.67% from 2022 to 2030. And two years later, GVR valued the
global liquid biopsy market size at USD 10.42 billion in 2023 and predicted
a CAGR of 11.60% from 2024 to 2030. Subsequently, this new test portfolio
will provide GeneType with access to a significant market opportunity
within the next 12 months.
GeneType is building a guideline-driven approach with a goal to achieve
reimbursement across its test portfolio. This will significantly drive uptake
by making genomic tests widely available and financially accessible to
eligible patients.
Dr. Muchnicki, leading this new division at GeneType said, “The ability to
deliver accurate companion-diagnostic solutions are paramount for
best-in-class outcomes, translating into better survival, lower morbidity
and lower cost to the health system.”
Precision oncology tests drive a more personalised care approach,
delivered with greater accuracy. This portfolio of new genomic tests will
dramatically change the landscape of oncology diagnostics and help
achieve better treatment outcomes for patients.
- END -
Authorised for release by the Board of Directors.
Enquiries
Simon Morriss
Chief Executive Officer
E: [email protected]
About Genetic Technologies Limited
Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. A global leader in
genomics-based tests in health, wellness and serious disease through its geneType and EasyDNA brands. GTG offers cancer
predictive testing and assessment tools to help physicians to improve health outcomes for people around the world. The
company has a proprietary risk stratification platform that has been developed over the past decade and integrates clinical
and genetic risk to deliver actionable outcomes to physicians and individuals. Leading the world in risk prediction in oncology,
cardiovascular and metabolic diseases, Genetic Technologies continues to develop risk assessment products. For more
information, please visit www.genetype.com
Forward Looking Statements
This announcement may contain forward-looking statements about the Company's expectations, beliefs or intentions
regarding, among other things, statements regarding the expected use of proceeds. In addition, from time to time, the
Company or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking
statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may,"
"should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that
these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in,
but are not limited to, various filings made by the Company with the U.S. Securities and Exchange Commission, press releases
or oral statements made by or with the approval of one of the Company's authorized executive officers. Forward-looking
statements relate to anticipated or expected events, activities, trends or results as of the date they are made. As forwardlooking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and
uncertainties that could cause the Company's actual results to differ materially from any future results expressed or implied
by the forward-looking statements. Many factors could cause the Company's actual activities or results to differ materially
from the activities and results anticipated in such forward-looking statements as detailed in the Company's filings with the
Securities and Exchange Commission and in its periodic filings with the ASX in Australia and the risks and risk factors included
therein. In addition, the Company operates in an industry sector where securities values are highly volatile and may be
influenced by economic and other factors beyond its control. The Company does not undertake any obligation to publicly
update these forward-looking statements, whether as a result of new information, future events or otherwise, except as
required by law