Genetic Technologies (GENE +91.3%) announces the signing of an exclusive worldwide license agreement with The University of Melbourne for the development and commercialization of a novel colorectal cancer (CRC) risk assessment test.
The terms and conditions of the Agreement are confidential, but Genetic Technologies will be responsible for the commercial development of the test. Also, the University of Melbourne and GENE will embark on an ongoing research collaboration enabling the company to leverage the University's expertise in SNP (single nucleotide polymorphism)-based risk assessment and risk model development.
The fundamental technology is similar to the BREVAGenplus test and will fit synergistically into GENE's existing infrastructure and processes. The CRC test represents a significant milestone for the company as it seeks to diversify its product pipeline and become a key player in the SNP-based cancer risk assessment landscape.