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Genetic Technologies (ASX:GTG), IBX make progress on COVID-19 risk test

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Summary

  • Genetic Technologies has updated on the progress of the US commercial availability of its COVID-19 sdr Test via IBX.
  • The Company stated that it had completed all validation and data-based analysis for the COVID-19 Risk Test.
  • Currently, IBX is engaged in the completion of the technical interface with its telehealth partner.

Dual-listed healthcare player Genetic Technologies Limited (ASX:GTG, NASDAQ: GENE) has provided an update on its progress of the US commercial availability of its COVID-19 Serious Disease Risk Test via US-based Infinity BiologiX LLC (IBX).

On 3 March 2021, the artificial intelligence (AI)-driven preventive health company announced a co-exclusive production and distribution rights and license agreement with IBX.

With the licensing agreement, IBX will offer analytical services, sample collection and processing, storage, besides providing scientific and technical support for the manufacturing, distribution, and sale of GTG’s COVID-19 sdr (Serious Disease Risk) test in the US.

Completion of all validation and data-based analysis

Genetic Technologies stated that the Company had completed all validation and data-based analysis for its COVID-19 Risk Test.

Moreover, Infinity BiologiX, the US-based distribution partner of GTG, is currently engaged in completing the technical interface with its telehealth partner for the commercial availability of the COVID-19 Risk Test across the United States.

The technical interface is a requirement for submission to the Centers for Medicare and Medicaid Services (CMS). The submission is required before IBX’s commercial release of the COVID-19 Risk Test.

The Company mentioned that it would provide further updates in due time.

GTG’s COVID-19 Risk Test

GTG’s COVID-19 Risk Test was developed for the risk assessment of an individual developing a severe disease if they come in contact with SARS-CoV-2, the virus causing COVID-19.

The test is expected to predict disease severity by using a combination of genetic and clinical information.

Infinity BiologiX in a nutshell

Infinity BiologiX, a market-disrupting next-generation central laboratory, is engaged in providing support to academia, government, and industrial players. IBX offers worldwide sample collection, processing, storage, and analytical services integrated with scientific and technical support in the research and clinical areas.

As a biomaterial leader, IBX fosters the development of diagnostics, therapeutics, and research in genomics, precision, and regenerative medicine.

Infinity BiologiX has three well-established laboratories, with two labs in New Jersey and one in Minnesota.

IBX has a network of SARS-CoV-2 testing partners, with access to testing sites across the country providing a clear path for the sale and distribution of GTG’s COVID-19 Risk Test.

On 13 April 2021, GTG shares were trading at A$0.010 (at AEST 12:38 PM).

DO READ: Genetic Technologies (ASX:GTG) - A Pioneer in Developing Polygenic Risk Scores

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