GTG posts record BREVAGen sales growth

Genetic Technologies (ASX:GTG) has revealed it received a record 599 patient samples for its BREVAGen breast cancer risk assessment test during the June quarter.

This represents a 48% growth from the previous quarter, GTG said. It brings the total number of test samples received for FY13 to 1547, which itself represents 272% growth from FY12.

The company said the percentage growth in BREVAGen sales has been growing progressively in each of the last eight quarters since the company’s US launch in July 2011.

Separately, GTG announced it has settled another lawsuit it had filed in the US alleging infringement of its non-coding DNA patents.

GTG has executed a confidential settlement and release agreement with Chicago’s Reproductive Genetics Institute. The company filed the lawsuit in August 2012 but will now drop the case.

This marks the latest in a series of recent settlements surrounding the company’s US patent enforcement efforts.

The company does not expect the recent US Supreme Court verdict on the patentability of isolated genomic DNA to have any material impact on this patent enforcement or its US and Australian BREVAGen businesses.

Genetic Technologies shares were trading 2.11% lower at $0.093 as of around 1 pm on Monday.