Global Access to Genetic Testing Expands with geneType™ on EasyDNA
Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) has officially launched its geneType™ Risk Assessment portfolio on the EasyDNA platform. This move positions the geneType™ offering across 42 countries, broadening global access to genetic risk assessments through a user-friendly interface integrated with telehealth support. With this rollout, Genetic Technologies aims to make its predictive testing tools more accessible to both consumers and healthcare providers worldwide.
$GTG Genetic Technologies launches geneType™ on its EasyDNA platform https://t.co/DvADsU1K1w @Gene_type $GNTLF $GENE #GTG #GNTLF #GENE #ASX #ASXNews
— Proactive Australia (@proactive_au) August 15, 2024
What geneType™ on EasyDNA Brings to the Market
The addition of geneType™ to the EasyDNA platform allows Genetic Technologies to tap into an established global network while achieving high margins, with over 70% gross profit expected. According to the company, this expansion is a key step toward reaching its profitability target, with cash burn projected to decrease significantly. The availability of geneType™ on this platform aligns with the company’s strategy to enhance revenue and improve cash flow efficiency.
Peter Rubinstein, spokesperson for Genetic Technologies, noted:
“This expansion allows the Company to promote and sell its most powerful geneType™ innovation on its most profitable channel to realize more than 70% gross margin.”
Simplifying Consumer Access Through Telehealth Integration
geneType™ on EasyDNA provides a seamless process for both consumers and clinicians, offering a fully online experience from ordering the test to receiving results. Through partnerships with companies like Nest Genomics and DNA Nexus, the platform offers telehealth-enabled support, allowing users to discuss results directly with healthcare providers. This integration is designed to simplify the entire journey, ensuring that consumers can act on their genetic insights with ease.
The company has streamlined the process with a user-friendly interface. “GENE has implemented a ‘user-friendly’ consumer interface with Nest Genomics,” the company shared in its release, highlighting the focus on making the platform accessible and informative.
Key Markets and Global Reach
The rollout of geneType™ on EasyDNA specifically targets regions like the U.K., the U.S., and Australia, where there is a growing demand for genetic testing. In the U.K., the offering is expected to resonate well due to the relevance of local biobank data used in the development of geneType™. Meanwhile, the U.S. and Australian markets will see tests being made available through both the EasyDNA platform and telehealth services, enabling consumers to access their results in ways that suit their needs.
This global expansion not only increases the visibility of geneType™ but also enhances its accessibility, ensuring that more people can benefit from personalized genetic risk assessments.
Bridging Genetics and Clinical Data for Better Insights
What sets geneType™ apart is its ability to integrate both genetic and clinical risk factors, offering a comprehensive overview of an individual’s health risks. The platform’s proprietary algorithms and extensive patent portfolio underpin the reliability and accuracy of its risk assessments. This combination of data points is crucial for providing actionable insights that help users make informed health decisions.
The company has invested over $50 million in the development of its geneType™ technology, which is now available to a wider audience thanks to this strategic launch on EasyDNA. The increased access to these advanced tools is expected to drive further growth as the market for genetic testing continues to expand.
How Will geneType™ on EasyDNA Impact Personalized Health?
The launch of geneType™ on EasyDNA is a significant step in making advanced genetic testing more accessible on a global scale. By combining technology, telehealth, and user-friendly interfaces, Genetic Technologies is providing consumers with the tools they need to better understand their health risks. What do you think about the growing accessibility of genetic testing? We’d love to hear your thoughts in the comments below!
Photo by National Cancer Institute on Unsplash
