| GTG Grants License to TIB MOLBIOL |
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Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) is pleased to advise that its newly-elected Board of Directors has reaffirmed the importance of expanding the global GTG licensing programme, in order to make its patented inventions widely available and to generate significant additional revenues for the Company. Consistent with this clarification, GTG is pleased to announce it has now granted a license to its non-coding patents to TIB MOLBIOL Syntheselabor GmbH, of Berlin, Germany. TIB MOLBIOL produces and sells various reagent kits and components for advanced genetic testing. While the precise terms of the commercial license granted to TIB MOLBIOL are covered by standard confidentiality provisions, GTG can confirm that this license has now been signed and that the full consideration payable to GTG under the formal “Settlement and License Agreement” has now been received by the Company. This is the 39th commercial license to the non-coding patents granted by GTG, and the 5th such license to be granted to parties located in Europe. Other similar opportunities are now being actively pursued worldwide by GTG personnel. FOR INFORMATION REGARDING THIS ANNOUNCEMENT PLEASE CONTACT Thomas G. Howitt Company Secretary Genetic Technologies Limited (ABN 17 009 212 328) Phone: +61 3 8412 7000 |
