Genetic Technologies surges 40% on back of agreement
Provider of world-leading genetic risk assessment test products Genetic Technologies Limited (ASX:GTG), has signed a 3-year Collaboration Agreement with TGen.
This is an extremely important development for the company, and one that has triggered a sharp share price increase on Monday morning.
In the first half hour of trading the company’s shares were up as much as 40%.
TGen, an affiliate of City of Hope in Duarte, California, is an Arizona-based, non-profit biomedical research institute dedicated to conducting ground-breaking research with life-changing results.
Physicians and scientists at TGen work to understand the genetic components of both common and complex diseases, including cancer, neurological disorders, infectious disease, and rare childhood disorders.
They are also focused on the translation of clinically useful genomics discoveries into the clinic.
In pursuit of clinical evidence for GTG’s test
The collaboration agreement will see Genetic Technologies and TGen cooperating in the design feasibility analysis of clinical research studies to support a clinical application of the former’s polygenic risk tests.
The initial focus of the studies will be the clinical utility of the GeneType Breast and Colorectal Cancer risk tests developed by Genetic Technologies.
This aims to demonstrate the value of these tests for clinicians when assessing individual risk profiles.
Genetic Technologies and TGen will also identify appropriate clinical partners to participate in the studies.
Once completed, it is expected that these studies will provide strong clinical evidence to support the use of the polygenic risk tests as an important routine tool in predicting individual disease risk.
They can then assist clinicians to develop individual risk management programmes for improved prevention and treatment of these diseases.
While the terms of the agreement are confidential, key features include that GTG and TGen will cooperate in the design and conduct of clinical utility studies for a suite of polygenic risk tests for common diseases to be developed and made available in the US market.
The clinical utility studies are intended to translate GeneType tests into daily clinical use.