GeneType Identifies 79.5% of People Tested are at Risk of Serious Disease
Genetic Technologies (NASDAQ: GENE) has announced the success of its geneType Risk Assessment Test, which has identified 79.5% of individuals tested in the US and Australia as being at elevated risk for serious diseases. These tests cover a range of conditions, including various cancers, cardiovascular diseases, and Type 2 diabetes, using a non-invasive saliva sample. The company highlights the test's potential to allow for early detection and intervention, thereby improving health outcomes and personalizing patient care. This development underscores geneType's role in revolutionizing preventive healthcare.
- Identified 79.5% of individuals tested as at risk for serious diseases.
- Covers a wide range of diseases including cancers and cardiovascular conditions.
- Uses a non-invasive saliva sample, increasing accessibility.
- Empowers early detection and intervention.
- Enhances personalized care in health management.
- None.
Insights
From a financial perspective, the
Moreover, the focus on non-invasive testing methods, such as saliva samples, makes these tests more accessible, potentially expanding the addressable market. This could result in
Implications for stakeholders include increased shareholder value if the company successfully capitalizes on this growing market. However, investors should be cautious of potential regulatory hurdles and competition from other companies in the genomics space. It would be prudent to monitor revenue growth in upcoming quarterly reports to determine if the current momentum is sustainable.
From a medical research standpoint, the high percentage of individuals identified with elevated disease risk underscores the utility of geneType tests in precision medicine. Identifying genetic predispositions across multiple serious diseases can enable targeted surveillance and early interventions, which are important for improving patient outcomes. This aligns well with the current trend towards personalized medicine, where treatments and preventive measures are tailored based on individual genetic profiles.
Additionally, non-invasive testing methods like saliva samples are advantageous in a clinical setting as they reduce patient discomfort and the need for specialized medical personnel to collect samples. This simplicity can increase compliance and facilitate large-scale screening programs. However, scientists and healthcare providers must remain critical and ensure that these tests are validated through peer-reviewed research to avoid potential false positives or negatives, which could have serious implications.
For the healthcare industry, this could signify a shift towards more proactive rather than reactive care models, potentially lowering long-term healthcare costs by preventing severe diseases before they manifest more seriously.
From a market research perspective, the 79.5% elevated risk detection rate is a key selling point that could drive consumer interest and demand for geneType tests. The emphasis on a non-invasive, saliva-based test is particularly compelling, as it lowers barriers to adoption among a broader demographic. This market differentiation is significant in an industry that traditionally relies on more invasive and less accessible testing methods.
Furthermore, the test's ability to cover a wide range of diseases, including various cancers and metabolic conditions, positions it as a comprehensive health assessment tool. This breadth can attract partnerships with healthcare providers, insurers and wellness programs, further expanding market reach. However, competitors will soon enter this lucrative space and GTG must innovate continually and demonstrate the clinical efficacy of its tests to maintain its market leader status.
The shift towards preventive healthcare is beneficial for both patients and insurers, as it can reduce the incidence of advanced diseases and associated costs. Hence, strategic collaborations with insurance companies could be a pivotal move for GTG to enhance its market penetration and customer acquisition.
Results from commercial sales of predictive testing across the US and Australia establish clear advantages of geneType Risk Assessment Tests for a more preventive approach in disease management
CHARLOTTE, N.C., June 25, 2024 (GLOBE NEWSWIRE) -- Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company”, “GTG”), a global leader in genomics-based tests in health, wellness and serious disease, is pleased to share the power of the geneType test in identifying risk and improving the health of populations worldwide.
Since the geneType Risk Assessment Tests became available, GTG has tested a statistically significant number of people in Australia and the US. These results have revealed a compelling statistic:
GeneType is revolutionizing healthcare with its pioneering, non-invasive Multi-Risk Test, designed to uncover hidden risks of common yet serious diseases. This state-of-the-art test identifies individuals at elevated risk for a range of cancers, including breast, ovarian, pancreatic, prostate, colorectal, and melanoma, as well as cardiovascular diseases and metabolic conditions like Type 2 diabetes.
Why GeneType’s Multi-Risk Test is a Game-Changer:
- Comprehensive Coverage: The Multi-Risk Test evaluates genetic predispositions across a spectrum of serious diseases, covering
70% of annual mortality and morbidities - providing a clearer view of an individual’s health risks. - Non-Invasive Procedure: The geneType test uses a simple, non-invasive salvia sample, making it accessible to a much wider population than a blood sample.
- Actionable Outcomes: Each test in geneType’s portfolio comes with guideline-driven, actionable outcomes, empowering patients and healthcare providers to make informed decisions.
- Early Detection Saves Lives: Identifying individuals at high risk enables proactive monitoring and preventative measures, significantly improving health outcomes.
- Personalised Care: This test epitomises the power of genomics and personalised care, tailoring health management to the individual.
Real Impact, Real Lives:
The implications of geneType’s Multi-Risk Test are profound. With
“We have always believed the geneType Multi-Risk Test is a major step forward in personalised medicine,” said Simon Morriss, CEO of geneType. “These real time results validate the utility of geneType in identifying people at high risk of disease, and importantly, they enable individuals and healthcare providers to take control of their health.”
For media enquiries, contact:
Mara Quigley
Steve Allen Media
E: mara@steveallenmedia.com
661.255.8283
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 forward-looking 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.
1 Based on last 3 months reported results to end of May 2024 from Genetic Technologies geneType Multi-Risk Test
FAQ
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