Genetic Technologies Provides U.S. Gene Patenting Update
No Material Impact on Commercial Operations
MELBOURNE, AUSTRALIA -- (Marketwired) -- 06/17/13 -- Genetic
Technologies Limited (ASX: GTG) (NASDAQ: GENE) provides an update to
the Market on its position following the U.S. Supreme Court's recent
decision regarding the patentability of human genes in the case
Association for Molecular Pathology v. Myriad Genetics, Inc.
Genetic Technologies' Non-Coding Patents Not Affected
Court, in handing down its decision, seemed to make clear that method
claims were not the focus of its opinion and that the decision should
have little impact on "method patents" such as GTG's foundational
U.S. non-coding DNA patents, in relation to analysis (US 5,612,179)
and mapping (US 5,851,762), which form the basis of its global patent
BRCA Testing Not Affected
Genetic Technologies has been providing
highly efficient and timely medical testing services, including
testing for the BRCA1 and BRCA2 genes, for private patients and
institutions in Australia and the Pacific Rim for more than ten
years. During this time, the Company has established a significant
database of BRCA mutations that facilitate accurate reporting to the
The decision of the Supreme Court regarding the patentability of
genetic and/or biological materials should not impact the Company's
ability to offer these and other tests, particularly as the
associated patents are not owned by Genetic Technologies, nor does
the Court's decision affect patents outside of the United States.
Accordingly, the Supreme Court's decision in the Myriad case should
have no material impact on the Company's BRCA testing operations.
BREVAGen(TM) Testing Not Affected
The global patent portfolio that
underpins the Company's flagship breast cancer risk assessment test,
BREVAGen(TM), is based upon claims relating to methods for
identifying the risk of developing breast cancer. Therefore, the
Supreme Court's decision in the Myriad case should have no material
affect on the Company's BREVAGen(TM) testing operations.
ImmunAid(TM) Technology Not Affected
Genetic Technologies is the
largest shareholder of ImmunAid Limited ("ImmunAid"). ImmunAid's core
technology relates to highly-sensitive readings within the immune
system to determine the preferred timing for the treatment of cancer
and other serious diseases. Therefore, the decision of the Supreme
Court in the Myriad case should have no impact upon ImmunAid either.
About Genetic Technologies Limited
Genetic Technologies was an early
pioneer in recognizing important new applications for "non-coding"
DNA (Deoxyribonucleic Acid). The Company has since been granted
patents in 24 countries around the world, securing intellectual
property rights for particular uses of non-coding DNA in genetic
analysis and gene mapping across all genes in all species. Its
business strategy is the global commercialization of its patents
through an active out-licensing program and the global expansion of
its oncology and cancer management diagnostics portfolio. Genetic
Technologies is a company listed on both the ASX and NASDAQ with
operations in the USA and Australia. For more information, please
Safe Harbor Statement
Any statements in this press release that
relate to the Company's expectations are forward-looking statements,
within the meaning of the Private Securities Litigation Reform Act.
The Private Securities Litigation Reform Act of 1995 (PSLRA)
implemented several significant substantive changes affecting certain
cases brought under the federal securities laws, including changes
related to pleading, discovery, liability, class representation and
awards fees and of 1995. Since this information may involve risks and
uncertainties and are subject to change at any time, the Company's
actual results may differ materially from expected results.
Additional risks associated with Genetic Technologies' business can
be found in its periodic filings with the SEC.
FOR FURTHER INFORMATION PLEASE CONTACT
Ms. Alison J. Mew
Chief Executive Officer
Genetic Technologies Limited
Phone: +61 3 8412 7000
Ms. Laura Forman (USA)
Blueprint Life Science Group
+1 (415) 375 3340, Ext. 103
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