Genetic Technologies Announces New Record Growth in Number of BREVAGen(TM) Tests Received for December Quarter

Jan 8, 2014 05:15 ET

MELBOURNE, AUSTRALIA--(Marketwired - Jan 8, 2014) - Genetic Technologies Limited (NASDAQ: GENE) (ASX: GTG) today announced that a new record number of BREVAGen™ test samples were received during the quarter ended December 31, 2013. Total patient samples received during the quarter was 1,125, representing growth of more than 23% over the preceding September quarter and demonstrating a continuation of the significant increase trend in market traction. 

"We are pleased to report another record quarter in samples received for our flagship breast cancer risk assessment test, BREVAGen," said Tom Howitt, acting CEO of Genetic Technologies. "Our continued growth has been achieved through just a modest increase in the number of sales representatives within key states as we achieved incremental licensure. We are particularly encouraged to see the increased growth rate during this December quarter, given the two major holiday periods, both of which have a seasonal impact on the numbers of tests ordered."

Launched in the first fiscal quarter of 2012, BREVAGen test sample receipts have demonstrated consistent growth, increasing every quarter to-date. The test is now available for sale in all 50 U.S. states.

About Genetic Technologies Limited
Genetic 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 uses of non-coding DNA in genetic analysis and gene mapping across all genes in all species. Its business strategy is the global commercialization of its patents through an active out-licensing program and the global expansion of its oncology and cancer management diagnostics portfolio. Genetic Technologies is an ASX and NASDAQ listed company with operations in the USA and Australia. For more information, please visit www.gtglabs.com.

Safe Harbor Statement
Any statements in this press release that relate to the Company's expectations are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees. Since this information may involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Additional risks associated with Genetic Technologies' business can be found in its periodic filings with the SEC.

For further information, please contact:

FOR FURTHER INFORMATION PLEASE CONTACT

Mr. Tom Howitt
Chief Executive Officer (Acting)
Genetic Technologies Limited
Phone: +61 3 8412 7000

Laura Forman (US)
Blueprint Life Science Group
+1 (415) 375 3340, Ext. 103