VICTORIA, Australia, April 19, 2011 /PRNewswire/ — Genetic
Technologies Limited (ASX: GTG; NASDAQ: GENE) has
executed a preliminary research collaboration agreement to jointly
develop a new cancer profiling product with one of the world’s
leading pharmaceutical companies.
Under the collaboration Genetic Technologies will use certain
expertise and intellectual property to work with this world-leading
pharmaceutical company to develop specific and novel genetic
oncology profiling systems for the targeting of chemotherapy in
late stage cancer patients.
GTG will collaborate in a clinical oncology study and provide
these results to its collaboration partner. The details of the
collaboration and the identity of the counterparty are
confidential. This stage of the project is expected to last some
months after which time the parties will assess progress and
discuss moving to further investigations.
Genetic Technologies’ Chief Executive Officer Dr Paul MacLeman
said: “GTG’s expertise in genetic profiling is widely respected.
This collaboration is a validation of GTG’s capabilities in the
area of very low signal to noise nucleic acid analysis, and we look
forward to working with one of the most successful pharmaceutical
companies in the world.”
“This research collaboration is expected to further embed GTG’s
franchise in oncology testing and we expect ultimately to lead to
better patient outcomes. The need for companion diagnostics to
determine effective treatments for cancer patients is well
established. We are very excited by this collaboration as we
continue to expand our presence in the field of personalized
medicine.”
About Genetic Technologies LimitedGenetic Technologies was an
early pioneer in recognizing important new applications for
“non-coding” DNA (Deoxyribonucleic Acid). The Company has
since been granted patents in 24 countries around the world,
securing intellectual property rights for particular u
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