Personalised medicine is quickly becoming the new standard of healthcare thanks to the ease of genetic testing and technological advancements.
Genetic Technologies (ASX: GTG) is pioneering a preventative, individualised approach to the COVID-19 pandemic through their experience in genomics and AI driven preventative health.
Having already created genetic testing kits to predict breast and colorectal cancer risk, Genetic Technologies is well versed in the personalised medicine space.
Together with subsidiary brand Infinity BiologiX (IBX) the Company has launched a COVID-19 Risk Test in the US following the receipt of all regulatory approvals.
The saliva sample test allows people to gain an estimate of their personal risk of severe illness if infected with the COVID-19 virus based on their genetics. Identifying those in the community that are more vulnerable will prompt consideration of safety protocols and personal risk management. The Company is also hopeful that understanding one’s risk will prompt higher vaccine compliance.
At-home testing kits can now be ordered online from IBX for USD $175, and combines genetic and clinical risk assessment factors to determine overall vulnerability.
Sample processing and testing will be conducted across IBX’s network of labs and partner organisations across the US. IBX has the capacity to process over 100,000 tests per day.
Genetic Technologies has co-licensed the test to IBX for a three year initial term and will receive fixed payments on a quarterly basis.
GTG shot to prominence in July 2020 when its share price doubled off the back of patent approval for their breast cancer screening test, and provisional patent filing for their COVID-19 Risk Test.
The dramatic share price movement raised the ire of the market regulators, prompting the ASX to send regulatory queries.
Samantha Freidin is a business journalist at Emerald Financial whilst also completing a Masters of Marketing and Digital Communications at Monash University.
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