GTG cleared to sell BREVAGen in NY
Genetic Technologies (ASX:GTG) has secured approval to expand its BREVAGen genetic test for breast cancer risk to New York State.
The New York State Department of Health has issued a Clinical Laboratory Permit to the company after a two-day audit of the company’s Melbourne laboratories.
Genetic Technologies said US subsidiary Phenogen Sciences will appoint sales representatives to cover the state - and New York City in particular - in the near future.
This approval means the company now has out-of-state licences to meet physicians’ requests for the genetic testing service in all 50 US states. Approval from the Department of Health was the final hurdle needed to expand BREVAGen’s availability nationwide.
The company reported a 48% increase in BREVAGen sales for the second quarter, processing a record 599 patient samples.
Genetic Technologies separately announced its latest in a long line of settlement agreements with US genetic testing companies regarding its non-coding DNA patents.
The company will dismiss legal action against Michigan’s Genesis Genetics Institute after reaching a confidential settlement deal. Genetic Technologies filed the case in late 2012.
Genetic Technologies (ASX:GTG) shares were trading unchanged at $0.088 as of around 3 pm on Tuesday.
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