MELBOURNE, AUSTRALIA--(Marketwired - Aug 6, 2015) - Molecular diagnostics company Genetic Technologies Limited (ASX: GTG) (NASDAQ: GENE) ("Company"), is pleased to announce the issuance of US Patent Nos: 9,051,617 and 9,068,229 covering three of the core genetic markers referred to as single-nucleotide polymorphisms ("SNPs") in the Company's BREVAGenplus® risk assessment test. This patent family is assigned to Cambridge University, England and licensed exclusively to Genetic Technologies Limited. The patents comprise an important part of the commercialisation strategy for our first-in-class breast cancer risk assessment test.
The particular SNPs in question were amongst the first of the breast cancer susceptibility loci to be consistently and robustly confirmed across multiple genome-wide association studies, such that their inclusion in BREVAGenplus provides the test with an additional significant proprietary competitive advantage over other SNP-based tests that might be developed.
Overall, the proprietary technology incorporated into the BREVAGenplus test provides significant benefits over existing breast cancer risk assessment algorithms. Further scientific validation studies of BREVAGenplus, detailing these performance benefits, have recently been completed, as was announced to the market on 14 July 2015. It is expected that the results of the first of these studies will be published in a peer-reviewed journal before the end of Q1 FY16. Supplementary scientific analysis supporting these studies is also nearing completion, with follow-up results expected to be released in Q2 FY16.
On 14 July 2015, the Company further announced to the market a long-term strategic investment in new studies of BREVAGenplus, the results of which are expected to be published in peer reviewed journals. The Company's strategy to generate scientific publications is designed to further strengthen the commercial position of BREVAGenplus, by advancing research and clinical understanding of the test, and underscore the utility of the test to current and potential prescribers. The publication strategy sits atop the Company's comprehensive intellectual property portfolio protecting BREVAGenplus. These recently granted US patents greatly enhance the value proposition of the test.
The Company has previously conducted multiple scientific studies in developing and validating the first generation BREVAGen™ test. In addition, the Company has developed two health economic models in collaboration with a research partner to demonstrate the potential cost savings and health benefits associated with the BREVAGen test. Importantly, due to the nature of the technology and the specific improvements incorporated in BREVAGenplus, the scientific studies undertaken and published based on the original version of the test remains applicable to the new iteration.