Genetic Technologies Limited (GTG), a Melbourne company whose technology predicts the likelihood of serious disease in the case of infection with Covid-19, has secured a United States manufacturer and distributor for its Covid-19 Serious Disease Risk (sdr) Test kits.
The company’s kits, which predict the likely severity of cases based on a combination of genetic and clinical information, will be produced, distributed and sold by US based Infinity BiologIX LLC (IBX).
Under an initial three year co-exclusive licensing agreement, the US sample collection and analytical processing company will sell the kits under a ‘powered by GeneType’ brand.
Genetic Technologies already markets GeneType brand personalised risk assessment tests for breast cancer and colorectal cancer.
Genetic Technologies CEO Simon Morriss said: “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.”
Under the agreement IBX is required to make minimum payments to GTG totalling Au$3.7 million (US$2.9 million) over three years.
Royalties of $12.88 per unit are also payable.
IBX produces a saliva test for Covid-19 and has the capacity to produce 100,000 Covid-19 risk tests per day across its two major US laboratories.
Morriss said: “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.”
Genetic Technologies owns and operate a world class Clinical Laboratory Improvement Amendments (CLIA) approved genetic testing laboratory in Melbourne.
The company’s partners include the University of Melbourne, Memorial Sloan Kettering, Ohio State University, Harvard Nurses’ Health Study and The Translational Genomics Research Institute Arizona, USA.
Picture: Genetic Technologies
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