MELBOURNE, Australia, June 11, 2021 (GLOBE NEWSWIRE) -- Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company”, “GTG”), a diversified Genomics and AI driven preventative health business, has been granted US Patent No. 11,031,098 – ‘Computer Systems and Methods for Genomic Analysis’.
The patent application was submitted in 2016, building on a patent family dating back to 2001 and was recently granted to Genetic Technologies and demonstrates an important addition to Genetic Technologies portfolio of intellectual property. The length of time for the patent grant highlights the challenging climate in the United States for the granting of genetic and biotech patents in recent years and is therefore a significant milestone for the Company.
This builds on the previous patent granted in June 2020 for ‘Methods for assessing risk of developing breast cancer’ - No: US 10,683,549. (ref: ASX: release 18 June, 2020) and extends the protection of our portfolio beyond breast cancer for future products.
The patent describes efficient methods for identifying variations that occur in the human genome and relating those variations to the genetic basis of disease and drug response. The methods form the basis of Genome-Wide Association Studies (GWAS), particularly those focused on identifying single nucleotide polymorphisms associated with drug response ie. pharmacogenomic or pharmacogenetic markers.
Genetic Technologies CEO, Simon Morriss, said, “This is another great achievement for the team, in this case, it’s a testament to the underlying expertise of our in-house scientists in navigating a particularly challenging patent pathway through the United States Patent and Trademarks Office (USPTO).”
The application and utilization of this patent forms the foundation of a single test covering multiple serious diseases, known as the multitest, that will cover more than 70% of current known mortality and morbidities. This is in the final stages of development currently scheduled for release in Q4 CY21.
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About Genetic Technologies Limited
Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. GTG offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company’s lead products GeneType for Breast Cancer for non-hereditary breast cancer and GeneType for Colorectal Cancer are clinically validated risk assessment tests and are first in class. Genetic Technologies is developing a pipeline of risk assessment products.
For more information, please visit www.gtglabs.com
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