GeneType Multi-Risk Test now includes Melanoma, Pancreatic Cancer & Atrial Fibrillation

Rhea-AI Summary

Genetic Technologies Limited (NASDAQ: GENE) has announced the US launch of three new disease assessments, expanding its geneType Multi-Test to include melanoma, pancreatic cancer, and atrial fibrillation. This addition raises the total number of risk assessments to nine from a single saliva sample. The updated test is now available for all ethnicities and provides risk stratification for various serious diseases, enhancing early detection and patient outcomes. According to estimates, melanoma and pancreatic cancer will see approximately 97,610 and 64,050 new cases respectively in 2023, emphasizing the importance of this testing.

Positive

• Launch of three new disease assessments: melanoma, pancreatic cancer, and atrial fibrillation.
• Expansion of geneType Multi-Test to a total of nine serious diseases.
• Test available to a wide population, enhancing accessibility for all ethnicities.
• Potential for earlier diagnosis and improved patient outcomes.

Negative

• None.

MELBOURNE, Australia, March 27, 2023 (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 announce the US launch of three (3) new diseases taking the total number of individual risk assessments included in the geneType Multi-Test to nine (9), all from the one simple saliva sample. This launch is in line with phase 2 rollout plan for the geneType Multi Risk-Test. The expanded panel now includes:

Highlights:

• Melanoma, Pancreatic Cancer and Atrial Fibrillation - broadening of the utility to 9 serious diseases.

• Expanded panel is now available population wide for all ethnicities to doctors and their patients in the U.S.¹.
• Multi-Test now provides a stratification assessment of a person’s risk profile for six cancers, two cardiovascular diseases and a metabolic disease - for a total of 7 diseases for men and 8 for women.
• The Multi-Test is available to adults of all ethnicities, starting at the age of 30².

Each of the three new diseases that have been added to GeneType Multi-Test cause significant mortality and morbidity. According to the American Cancer Society there will be approximately 97,610 new cases of melanoma in 2023 and 7,990 people are expected to die from the disease. The Society’s estimates for pancreatic cancer are even more dramatic with 64,050 people newly diagnosed in 2023, with a staggering 50,550 people expected to die. In both cancers, identifying adults at increased risk of the disease gives patients and doctors the opportunity for additional surveillance which can enable earlier diagnosis and improve patient outcomes, extending life expectancy and saving lives. In the case of atrial fibrillation (AFib), the Centers for Disease Control (CDC) noted that in 2022 there were more than 454,000 hospitalizations and approximately 158,000 deaths each year in the United States due to AFib.

As with the other diseases included in Multi-Test, being able to stratify people at risk enables enhanced surveillance, early detection and early intervention which can lead to significantly improved patient outcomes.

GTG’s CEO, Simon Morriss said, “The Company continues to deliver on our commitment to being a world leader in delivering personalised risk assessments to enable preventative healthcare for a range of serious diseases.”

Authorised for release by the board of directors of Genetic Technologies Limited.

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.

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¹ Expanded Multi-Test will be available in Australia following NATA approval.
² Cardiovascular and metabolic risk assessments start at age 40; cancers start at age 30.

 

FAQ

What are the new diseases included in the geneType Multi-Test by Genetic Technologies?

The new diseases included are melanoma, pancreatic cancer, and atrial fibrillation.

How many total risk assessments does the geneType Multi-Test now provide?

The geneType Multi-Test now provides a total of nine risk assessments.

What is the significance of the new assessments for melanoma and pancreatic cancer?

These assessments allow for early detection, potentially improving patient outcomes and extending life expectancy.

What year did Genetic Technologies announce the US launch of the new Multi-Test?

The US launch of the new Multi-Test was announced in March 2023.

How does the geneType Multi-Test aid in patient care?

It helps stratify individuals at risk, enabling enhanced surveillance and early intervention.