Genetic Technologies Limited (ASX:GTG; NASDAQ:GENE, “Company”, “GTG”), a global leader in guideline-driven genomics-based tests in health, wellness and serious diseases, is pleased to announce that the Company is forming a strategic alliance with QIAGEN, a global leader in molecular testing with operations in 35 countries.
The alliance will establish and develop a ‘Centre of Excellence’ facility in Australia initially servicing Australia and New Zealand with potential for expansion, showcasing the Life Science and Diagnostics expertise of both organizations throughout the region. The partnership will further enhance GTG’s reputation as a regional leader in precision medicine in predicative and consumer genomics, utilizing QIAGEN technologies.
The relationship is expected to open a wide range of new commercial opportunities for GTG with enhanced automation capability and increased capacity supporting long-term revenue growth. Additionally, this initiative will unlock the Australian reimbursable market for all testing categories, including the geneType hereditary cancer test. This will make the geneType Breast, Ovarian and Colorectal cancer tests the most comprehensive offering in the market later in 2023. Gaining reimbursement coverage for geneType cancer assessment tests is expected to accelerate the adoption of these tests by General Practice clinics where patients are able to undertake the test with minimal out-of-pocket expenses.
QIAGEN will support the enhancement of GTG capabilities through software, hardware, consumable and technical solutions, including:
- the reagents and QIAGEN’s proprietary QCII software to complete Next Generation Sequencing (NGS) validation in house. The rollout will include QIAGEN’s QIAseq targeted DNA Pro Sample to Insight solutions for NGS Oncology and customized inhouse data analysis tools to provide sample to result service for GTG customers;
- collection devices, hardware, reagents and panels to equip GTG with the required laboratory scale to perform tests in-house;
- capability to multiplex on different scalable platforms; and
- provide technical support and the establishment of protocols for GTG to perform the tests for NATA accreditation for QIAGEN related Technologies.
GTG’s NATA1 accredited and CLIA2 certified high complexity laboratory in Melbourne will play an important role providing analytical services and insights. QIAGEN will support the Company through their global technical expertise and leadership, and work closely with GTG to bolster automation capability with hardware, reagents and panels, bringing best-in-class testing. GTG will harness this expertise to continue the innovation journey for the GeneType and EasyDNA brands.
GTG’s CEO, Simon Morriss said, “we are extremely excited to be forming this alliance with the regional subsidiary of such a prestigious global partner. After a period of extensive trialing throughout 2022 we are now onboarding this capability within our labs, and will see significant benefits with automation. We also see this relationship unlocking the reimbursable market within Australia, as our tests are progressively adopted by our local GP clinics. Finally and importantly, there is tremendous alignment between both organizations for growth in our region with planning already underway for a number of significant new emerging initiatives.”
QIAGEN’s Managing Director, Head of Commercial Operations AUS, Rod Gleeson, commented: “We are excited to take our existing partnership with GTG to the next level. This strategic alliance will leverage QIAGEN testing technologies from Sample to Insight for multiple applications. Further we believe this will facilitate growth and expansion in the region, and potentially even beyond.”
Authorized for release by the board of directors of Genetic Technologies Limited.
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