NEW YORK – Australian biotech Genetic Technologies said on Wednesday that it has inked a deal with Stayhealthy for the distribution in North America of Genetic Technologies' molecular test for the risk of cancers and other chronic diseases.
Melbourne-based Genetic Technologies said that the agreement will expand access to its GeneType Multi-Risk Test through Stayhealthy's online discount pharmacy, StayHealthyRx. Genetic Technologies said on its website that the test uses the analysis of buccal swab samples and clinical risk factors to generate scores for a patient's risk of breast, colorectal, ovarian, pancreatic, and prostate cancers, melanoma, atrial fibrillation, coronary artery disease, and type 2 diabetes.
Genetic Technologies also announced in April that it expected to raise $2 million through a direct offering and use the proceeds to support the US commercialization of the GeneType test through B2B channels, relaunch a digital sales and marketing strategy, and expand into markets in Europe and Southeast Asia.