Genetic Signatures sales rise on increases Covid-19 testing

Molecular diagnostic company Genetic Signatures has reported year to date sales of $23 million for the nine months to March 31, more than double its full year revenue in the previous financial year.

Third quarter sales were $4.3 million including instrument sales of $300,000, up 136 per cent on the previous corresponding period.

The company has been commercialising its core infectious diseases pathology screening technology, 3base.

It also manufactures polymerase Chain Reaction (PCR) based products for the detection of infectious diseases which are sold under its EasyScreen brand.

CEO Dr John Melki said Covid-19 had given the company access to a number of new customers in the United States, Europe and Australia.

He said: “Testing is now transitioning from SARS-CoV-2 only to screening for a broader range of respiratory pathogens, and that is where the true benefits of our 3base technology become apparent.

“Genetic Signatures is well positioned to take advantage of this opportunity.”

The company has approvals in place for testing for respiratory, enteric and antibiotic resistance detection kits in Europe and Australia, and SARS-CoV-2 kits in the US.

In the US sales of the company’s EasyScreen SARS-CoV-2 detection kits are now accelerating.

Picture: Genetic Signatures

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