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Genetic Technologies Partners With Blockchain Group Project Shivom

NEW YORK (GenomeWeb) – Australian molecular diagnostics firm Genetic Technologies announced today that it has partnered with Omix Ventures to develop and access a global genomic data management platform for cancer diagnostic development.

Omix Ventures is the parent organization of Project Shivom, which is developing a decentralized genomic data ecosystem called Global Genome ID based on blockchain — a technology for securely tracking and recording online transactions in a way that cannot be manipulated by any one entity.  

Under the terms of the deal, Genetic Technologies will provide Project Shivom with sample processing and other services through its CLIA lab in Victoria. Additionally, the company will be able to use Global Genome ID data to develop new predictive cancer tests, as well as data-monitoring and risk-assessment kits and services. Genetic Technologies also anticipates becoming a member of Project Shivom's laboratory and genetic counseling networks.

Additional terms of the nonbinding agreement were not disclosed.

"Access to such a large database of genomic data would allow [Genetic Technologies] to utilize its SNP-based risk assessment technologies and Australian CLIA accredited laboratory to facilitate the potential further development of other predictive cancer tests," Genetic Technologies Chairman Paul Kasian said in a statement.

Genetic Technologies offers the BrevaGenplus breast cancer risk assessment test and is developing additional cancer risk assessment products including one for colorectal cancer. Last month, the company said it was exploring business opportunities with blockchain technology firm Blockchain Global.