| Further Clarification On BRCA Testing |
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Following recent media and other commentary concerning the Company’s exclusive license to BRCA1 and BRCA2 genetic testing for breast and ovarian cancer syndrome, Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) makes the following clarifications: Several recent press articles have been released that imply that GTG’s enforcement of its rights will lead to adverse health outcomes for women with breast or ovarian cancer. GTG believes it has the shortest time-to-result of any laboratory in Australia. Patients will thereforebenefit by receiving their results more quickly. Furthermore, GTG employs best practice testing methodologies, ensuring that all patients will be tested using the gold standard in testing methodology. We believe that GTG can significantly assist medical professionals in their efforts to successfully manage and improve cancer risk management. It has been suggested that Genetic Technologies could dramatically increase its prices and as such reduce the availability of government funded testing for high risk individuals. To allay community fears that testing will become less affordable, GTG will agree to fix BRCA pricing for 2009 at its current 2008 prices and, beyond that, limit any future increase to the CPI. It has been suggested in the media that GTG’s enforcement of its exclusive license to performing diagnostic testing for the BRCA1 and BRCA2 genes will mean higher costs to consumers. Individuals who qualify as high risk candidates when assessed by public hospital based Familial Cancer Clinics, have their BRCA testing funded by the respective state or territory governments. These high risk individuals comprise the vast majority of patients for whom BRCA testing is performed. These individuals do not currently pay for the service and GTG sees no reason why this would change. It has been suggested that GTG is taking steps to prevent public laboratories from BRCA testing as from 6 November 2008. GTG has suspended any enforcement activity pending the outcome of further dialogue with all relevant stakeholders. It has been suggested that GTG’s license rights will lead to poor outcomes for research. GTG’s license with the patent owner relates specifically to the provision of BRCA1 and BRCA2 diagnostic services for breast and ovarian cancer and does not extend to research. GTG fully supports and encourages organisations to conduct research into breast and ovarian cancer. GTG has no wish to impede cancer research into BRCA1 and BRCA2. It has also been suggested that the patient data that has accumulated in various public sector laboratories will no longer be available for future research. The centralisation of testing within the GTG laboratory will not render unusable the data collected to date in public sector testing laboratories. Furthermore, we see no reason why such data cannot continue to be collected and analysed while testing is being conducted through the GTG laboratory. Finally, it has been suggested that the patient data created by testing at GTG’s laboratory will also not be available to researchers. The majority of GTG’s customers in this space comprise Familial Cancer Clinics based in public hospitals or Cancer Research Organisations. GTG routinely provides its customers with the results derived from the testing of patient samples. The results specifically relate to its customers, be they clinicians or researchers. Most of GTG’s customers are content to obtain a diagnostic result. However, to the extent that customers require more detailed genotype data derived from the genetic testing process, such as may be the case for researchers, GTG will continue to provide such data as requested. FOR INFORMATION REGARDING THIS ANNOUNCEMENT PLEASE CONTACT Michael B. Ohanessian Chief Executive Officer Genetic Technologies Limited (ABN 17 009 212 328) Phone: +61 3 8412 7000 |
