GeneType Risk Assessment Test onboarding in 16 clinics

Rhea-AI Summary

Genetic Technologies Limited (NASDAQ: GENE) announced the rollout of its geneType Risk Assessment Test across 16 medical practices on Australia's East Coast. This initiative is a part of the GeneType Hub strategy, aiming to enhance primary care by identifying serious diseases early, including cancers and diabetes. Independent models suggest that the test could improve patient outcomes significantly.

With over 212,400 Australians diagnosed with these diseases annually, GENE aims to provide actionable insights for clinicians to better manage chronic health conditions.

Positive

• Initial implementation of geneType Risk Assessment Test at 16 medical practices.
• Potential for improved patient outcomes by identifying early-stage cancers.
• Focus on serious diseases linked to over 50% of annual deaths and morbidities.

Negative

• None.

MELBOURNE, Australia, July 01, 2022 (GLOBE NEWSWIRE) -- Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company”, “GENE”), a global leader in genomics-based tests in health, wellness and serious disease is delighted to announce the Company has commenced initial implementation of its geneType Risk Assessment Test at 16 medical practices across the East Coast of Australia.

GeneType Hub strategy focuses on establishing centers of excellence and the routine use of geneType Risk Assessment Tests in clinics that have a critical mass of clinicians offering the test to appropriate patients. This is a key step in GENE’s primary care and B2B strategy. Clinics will be able to focus on either single disease or multiple diseases which will include breast cancer, colorectal cancer, ovarian cancer, coronary artery disease, prostate cancer and type 2 diabetes. A recent independently prepared budget impact model demonstrated that introducing geneType could assist physicians to identify more early stage cancers leading to better patient outcomes.

The geneType Multi Risk Test provides a comprehensive solution enabling a better understanding of a patient’s risk of developing one or more of six common serious diseases before onset, accounting for more than 50% of annual mortalities and morbidities.

GENE’s CEO Simon Morriss noted, “Almost half of all Australians are suffering from at least one chronic health condition every year, over 212,400 people in Australia receive a diagnosis related to one of these six common serious diseases.^1–3 The goal of geneType is to help clinicians make more informed decisions about the treatment of serious diseases providing actionable information to prevent, mitigate or reverse disease progression.”

^{1. Cancer in Australia Statistics. Available at: https://www.canceraustralia.gov.au/impacted-cancer/what-cancer/cancer-australia-statistics. Accessed June 2022. 2. Australian Institute of Health and Welfare. Diabetes. Available at: https://www.aihw.gov.au/reports/australias-health/diabetes. Accessed June 2022. 3. Australian Institute of Health and Welfare. Heart, Stroke and vascular disease. Australian facts. Available at: https://www.aihw.gov.au/reports/heart-stroke-vascular-diseases/hsvd-facts/contents/about. Accessed June 2022.}

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. GENE offers cancer predictive testing and assessment tools to help physicians to improve health outcomes for people around the world. The company’s Polygenic Risk Scores (PRS) platform is a proprietary risk stratification platform developed over the past decade integrating clinical and genetic risk delivering actionable outcomes from physicians and individuals. Leading the world in risk prediction in Oncology, Cardiovascular and Metabolic diseases. Genetic Technologies continues to develop a pipeline of risk assessment products. For more information, please visit www.genetype.com

FAQ

What is the geneType Risk Assessment Test by Genetic Technologies (GENE)?

The geneType Risk Assessment Test is designed to assess the risk of developing serious diseases, including various cancers and diabetes, allowing for early intervention.

When was the geneType Risk Assessment Test implemented?

The implementation of the geneType Risk Assessment Test commenced on July 1, 2022.

How many medical practices are using the geneType test?

The geneType Risk Assessment Test is being rolled out at 16 medical practices across the East Coast of Australia.

What diseases does the geneType Risk Assessment Test target?

The test targets several serious diseases including breast cancer, colorectal cancer, ovarian cancer, coronary artery disease, prostate cancer, and type 2 diabetes.

What impact could the geneType test have on patient outcomes?

The geneType test could assist physicians in identifying early-stage cancers, leading to better treatment decisions and improved patient outcomes.