Genetic Technologies Partners with CancerIQ to Enhance Cancer Care

Genetic Technologies Partners with CancerIQ for Innovation

Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE), esteemed in the field of genomics-based testing, has recently established a partnership with Chicago-based CancerIQ. This collaboration aims to enhance cancer prevention initiatives by improving the capabilities of healthcare institutions and clinics to identify high-risk patients effectively.

CancerIQ's Impact on Patient Care

CancerIQ has made significant strides over the years, particularly in the realm of breast imaging, where their platform has been integrated into operational processes. This integration has led to a notable increase in the uptake of genetic testing, thereby allowing clinics to prioritize patients who are at higher risk and ensuring timely preventive screenings for cancer.

Expanding Risk Assessment Models

Traditionally, CancerIQ's offerings have revolved around conventional risk assessment models and standard germline testing for hereditary risks. However, with the inclusion of Genetic Technologies' geneType Risk Assessment Test, there’s a marked shift towards primary preventive care. Both companies are committed to empowering healthcare providers with comprehensive risk assessments to tailor cancer prevention strategies effectively.

Innovative Solutions with GeneType

GeneType stands as CancerIQ's inaugural lab partner focusing on polygenic-integrated clinical risk prediction. This represents a vital evolution in population healthcare, transitioning from a strict focus on hereditary cancer risk to a more inclusive approach that encompasses multiple major diseases, including various cancers and cardiometabolic conditions.

Adapting Commercial Strategies

Despite challenges in the commercial landscape, the companies are navigating this complex environment by shifting to a contract-only, commission-based sales structure. This approach promises a leaner operational model with extensive reach, lessening overhead costs while enhancing visibility within the U.S. healthcare systems currently utilizing CancerIQ.

Engagement Across the U.S. Healthcare Landscape

Through this partnership, GeneType is poised to increase its visibility among more than 45 healthcare systems and over 250 clinics across the U.S. A significant portion of these clinics focuses on primary care and breast centers, making GeneType particularly well-positioned to drive its success. Thus far, over 1 million patients have been screened via the CancerIQ platform, showcasing its widespread adoption.

Streamlining the Test Ordering Experience

With a commitment to streamlined processes, GeneType will soon become part of CancerIQ’s Premium Tier for an annual fee. This inclusion will simplify test ordering by automatically integrating GeneType into the healthcare professional's test menu. Additionally, it will prepopulate the GeneType Test Request Form, facilitating a smoother interaction for both practitioners and patients.

The Future of Cancer Risk Assessment

GENE’s Chairman, Peter Rubinstein, expressed enthusiasm for this partnership, asserting its potential to enhance accessibility to geneType Risk Assessment Tests within the medical community. The collaboration also promises to yield co-marketing opportunities that will elevate awareness surrounding population risk assessment methodologies.

About Genetic Technologies Limited

Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) has developed a strong reputation as a diversified molecular diagnostics company. It plays a pivotal role in advancing genomics-based testing dedicated to health, wellness, and serious diseases. Through its established brands, geneType and EasyDNA, GTG provides predictive testing and assessment tools that assist healthcare providers globally in improving health outcomes.

Frequently Asked Questions

What is the significance of the partnership between Genetic Technologies and CancerIQ?

This partnership enhances cancer prevention efforts by integrating advanced risk assessment tools, allowing healthcare providers to better identify and prioritize high-risk patients.

How will the integration of geneType benefit clinical practices?

GeneType’s inclusion in the CancerIQ platform enables streamlined test ordering and enhances the ability of healthcare professionals to conduct comprehensive risk assessments.

What are some challenges faced by Genetic Technologies in the commercial sector?

The company has navigated slow sales cycles and a limited commercial reach, prompting a shift to a commission-based sales strategy for greater impact.

What is the expected outcome of this partnership?

The collaboration aims to facilitate enhanced access to cancer risk assessments, ultimately improving health outcomes for patients.

How many patients have used the CancerIQ platform?

More than 1 million patients have already been screened using the CancerIQ platform, demonstrating its effectiveness in real-world settings.

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