Genetic Technologies (GTG)

Shares / Stock Code

GTG

Stock Exchange / Sharemarket

ax

Genetic Technologies (GTG) is a life science company engaged in the licensing of biotechnology patents as well as specialising in the fields of genomics and genetics with operations in Canada, Switzerland and Australia. GTG was listed on the Australian Stock Exchange on the 30th of July, 1987. Its average annual revenue reaches approximately $11 million out of its issued capital of $70 million. Its headquarters is located in Victoria Australia and to date; around 54 people are employed in the company. Genetic Technologies operates mainly in three business segments: research, DNA testing and licensing activities.

The research segment of Genetic Technologies has started extending its application of the HLA findings to species and genes other than humans. The company under this segment has plans to use the company's technology in commercialising patented positions as well as developing products for marketing either by partnering with pharmaceutical companies, licensing the information to the third parties or by itself.

GTG's DNA testing business segment has already built a very important DNA service testing business with the company's genetics expertise and established laboratory. The company under this segment offers genetics tests for plants, animals and for humans including forensic analysis, disease susceptibility, medical diagnostics, individuality testing, pedigree testing, parentage testing, and sports performance testing.

Under its licensing activities, GTG maintains and manages a portfolio of intellectual property that is comprised of more than 160 patents and patent applications that are related to 20 separate pieces of technology.

The operation of Genetics Technologies is made possible by its subsidiaries: Simons GeneType Diagnostics, Genetype, Silbase Scientific Services, GeGenetic Technologies Corporation, Ag Genomics, Rarecellect, Immunaid, Genetype Corporation and Genetype.

Genetic Technologies Competitors

GeneType was founded in Melbourne, Australia by immunogenticist Dr. Malcolm Simons and medical practitioner Dr. Mervyn Jacobson in 1989. At the later part of 1997, GeneType received from Australian government AUD$3.5 million to improve its research. GeneType was taken by Genetic Technologies in 2000. Because of this, Genetic Technologies started to generate revenue from the patents held by GeneType.

Genetic Technologies succeeded in their US market in 2002. Sequenom Incorporated got a non-coding patent to all species. Nanogen Incorporated was given a narrow license to research genetic and human diagnostics. An exclusive license in the whole genome analysis was given to Perlegen Sciences of USA. In 2003, Laboratory Corporation of America Holdings (LabCorp) was given license. LabCorp is a provider of human diagnostic services in Canada and US.

In December 2006, GTG gave license to GENOSENSE Diagnostics, its non coding DNA patents found in Vienna, Australia. MetaMorphix (MMI) has a strategic alliance partner with Genetic Technologies made a canine breed composition test in February 2007. The company's non-coding DNA Patents Sciona found in Boulder Colorado was allowed to start its operation. In September 2007, Mr. Michael Ohanessian was the appointed as the Chief Executive Officer of the company. Biosearch Technologies founded in California, US was given license in October 2007.