Genetic Technologies Limited (ASX: GTG)(NASDAQ: GENE) is pleased to announce that it has entered into an agreement with DNA Bioservices Pty. Ltd. to provide paternity testing services to China.
Under the agreement, DNA Bioservices will be responsible for the marketing and development of a Hong Kong based paternity business. GTG's Melbourne based laboratory will provide the paternity testing analysis for DNA Bioservices. While the business will be physically based in Hong Kong, the services will be marketed extensively throughout China.
GTG is Australia's leading provider of paternity testing and is fully NATA accredited.
In commenting on the expansion, General Manager of DNA Profiling at GTG, Mr. Ian Smith stated:
"As one of the earliest providers of paternity tests in Australia, GTG has developed a testing service that is highly accurate and cost efficient, with superior turn around times. This provides an excellent base for expansion into Asia where, despite considerable demand for paternity testing, current government owned laboratories are unable to match GTG's high standard of service."
Gary Miller, Managing Director of DNA Bioservices, stated:
"We regard Asia as a significant market for paternity testing services. Importantly, the Chinese use the internet extensively, which in other markets has become a key source of paternity test referrals. DNA Bioservices has already developed internet marketing strategies that have seen its testing volumes expand rapidly in other parts of the world. We are confident that when coupled with the excellent quality of paternity testing services provided by GTG, DNA Bioservices can rapidly become a leading provider of paternity testing to the Chinese market."
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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 multicellular species. Its three-pronged business strategy includes: 1) the global commercialization of its patents through an active licensing program; 2) the expansion of its dominant commercial genetic testing business in Australia; and, 3) the commercialization of its various research and development projects aimed at generating further intellectual property of global commercial significance.
Contact
Mr. Geoffrey NewingGroup General Manager - Business Development
Genetic Technologies Limited
(ABN 17 009 212 328)
Phone: +61 3 9415 1135
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