Genetic Technologies (ASX:GTG) - CEO, Simon Morriss
CEO, Simon Morriss
Source: Genetic Technologies
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  • Genetic Technologies (GTG) embarks on a significant expansion of its recent acquisition of EasyDNA in both its test portfolio and geographical reach
  • EasyDNA had expanded the availability of its carrier testing and non-invasive prenatal tests (NIPT) into Europe which is the second biggest healthcare market in the world
  • Additionally, EasyDNA India has partnered with a number of stud farms for equine paternity testing which includes storage of profile data
  • The company had also recently launched the capability to store DNA in its National Association of Testing Authorities (NATA) approved facility for up to 15 years
  • Shares in Genetic Technologies are up 16.7 per cent, trading at 0.4 cents at market close

Genetic Technologies (GTG) has embarked on a significant expansion of its recently acquired at-home DNA testing company EasyDNA in both its test portfolio and geographical reach.

EasyDNA had expanded the availability of its carrier testing and non-invasive prenatal tests (NIPT) into Europe which is the second biggest healthcare market in the world.

The company believes that strong demand for more informed choices regarding fertility and pregnancy in Europe is providing a strong foundation for the company’s portfolio which includes pre-conception and prenatal testing.

Additionally, EasyDNA India has partnered with a number of stud farms for equine paternity testing which includes storage of profile data.

Initial samples have been received and the company has commenced testing with results to be featured in Indian Stud Book.

Horse racing and associated stud farming is a significant business in the world’s second
largest population enabling EasyDNA to leverage the company’s existing paternity infrastructure.

Genetic CEO Simon Morriss believes these incremental growth initiatives being undertaken by the EasyDNA team are exciting and expand the company’s direct-to-consumer offering to new markets and channels ensuring the company’s continuous revenue growth.

The company had also recently launched the capability to store DNA in its National Association of Testing Authorities (NATA) approved facility.

EasyDNA is offering a “best-in-class” solution to store DNA samples for up to 15 years, including with complete chain of custody, enabling future legal testing.

Shares in Genetic Technologies were up 16.7 per cent, trading at 0.4 cents at market close.

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