Genetic Technologies Limited: Project Shivom Strategic Alliance

Genetic Technologies (NASDAQ:GENE) a diversified molecular diagnostics company; provider of BREVAGenplus^®, a first-in-class, clinically validated risk assessment test for sporadic (non-hereditary) breast cancer, embracing blockchain technologies across genomic testing platforms, is pleased to announce that it has entered into a non-binding terms sheet with Omix Ventures Private Limited which operates Project Shivom, as further described below.

As quoted in the press release:

Dr Paul Kasian, Genetic Technologies’ Chairman commented: “The Board is excited about the opportunity to collaborate with Project Shivom on its unique blockchain platform.  Where the formal terms are agreed with Project Shivom, access to such a large database of genomic data would allow GTG to utilize its SNP based risk assessment technologies and Australian CLIA accredited laboratory tofacilitate the potential further development of other predictive cancer tests, enabling GTG to offer a comprehensive risk assessment portfolio.”

Click here to read the full press release.