Genetic Technologies Ltd. (GENE)

[Lucky_Charm$]

Simon Morriss, CEO of Genetic Technologies, stated: ‘We are excited to be partnering with IBX, to enable our COVID-19 Risk Test to be introduced commercially into the COVID-19 product landscape in the US. This agreement is a significant milestone for GTG representing the first multi-year commercial agreement the Company has entered into for the sale and distribution of one of its developed products.


“Our COVID-19 Risk Test is designed to provide individuals with the ability to understand their personal risk associated with contracting a serious case of this disease. Alongside existing treatment options and vaccines, we believe this test will enable more insightful decisions for states, workplaces and individuals on pathways forward in managing this pandemic.”


IBX is a market-disrupting central laboratory supporting academia, government, and industry. IBX provides global sample collection, processing, storage, and analytical services integrated with scientific and technical support in both the research and clinical arenas. As a leader in biomaterials, IBX provides support to the development of diagnostics, therapeutics, and research in the genomics, precision, and regenerative medicine arenas.
https://ibx.bio/


IBX launched its SARS-CoV-2 saliva-test in May 2020, after receiving FDA Emergency Use Authorization. It was the first test to utilise saliva as the primary biomaterial for SARS-CoV-2, and IBX subsequently became the first company to offer an at-home collection with this approach.


Robin Grimwood, IBX Chief Executive Officer, stated: “We view this initial agreement for the sale and distribution of Genetic Technologies’ COVID-19 Risk Test as a critical collaboration in line with our mission to understand the genetic causes of common, complex diseases and to discover diagnoses, treatments and, eventually, cures for these diseases. We are uniquely and strategically positioned with our partners to deliver the COVID-19 Risk Test and provide remote telehealth services and reporting, utilising our extensive array capability and capacity across a number of platforms. We were proud to offer the first COVID-19 PCR saliva test last spring and now see the COVID-19 Risk Test as an important next step with providing patients with the information they need to make the best decisions possible for their own health, their family’s health and the health of their community.”
The GTG team are in final stages to submit the COVID-19 Risk Test for clearance from Clinical Laboratory Improvement Amendments (CLIA) and will update the market as and when clearance is received.