MELBOURNE, Australia, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Genetic Technologies Limited (NASDAQ: GENE, “Company”, “GTG”), is pleased to announce the launch of a wide-reaching customer – targeted digital advertising campaign in the United States. This comprehensive program will drive Consumer Initiated Testing (CIT) for the company’s geneType Risk Assessment Tests. The campaign will commence end of March 2024 and will scale up throughout the remainder of the year. The U.S. wellness testing market is projected to reach $4.9 billion by 2032 from $878.9 million in 2022 with an annual growth rate of 18.86%1. GTG’s strategy ensures that the company’s geneType Risk Assessment test portfolio will be able to access this segment of this rapidly growing market in the U.S.2
The initiative is being led by Dr. Malcolm Bohm, who has recently been appointed strategic advisor. Dr Bohm, who is based in Southern California, has deep experience in customer marketing in the pharmaceuticals, diagnostics, and medical devices sector. He has built unique expertise in launching disruptive technologies, with a focus on women’s health.
“I'm excited to join the team. I strongly believe in informing consumers about health risks, and Genetype tests offer unique insights. Currently, people are more motivated to prioritize wellness over facing preventable deadly diseases. This aligns with the campaigns I've led throughout my career.” Malcolm commented.
GTG’s geneType brand offers integrated risk testing for a range of serious conditions. Predicting a person’s risk of developing one or more of these diseases allow for the implementation of personalised preventive health plans to manage risk, increasing the chance of early detection and intervention, significantly improving patient outcomes and ultimately saving lives.
“If you knew you are at moderate to high risk of up to seven potentially fatal cancers, coronary artery disease, atrial fibrillation or diabetes you should be very highly motivated to find ways to reduce your risk and prevent disease.” Said GTG’s CEO Simon Morriss.
The customer - targeted campaign will launch across multiple digital channels initially in the United States and will include a mix of earned organic content, paid media, and creator content. A contemporary specialist team has been assembled to roll out the campaign.
Morriss added “We believe driving awareness of our testing via the digital channels and using the creator economy will accelerate adoption of our tests. Using platforms like Meta, YouTube, and TikTok where customers are naturally engaging in healthcare content will be an important accelerator of our messaging and will help us communicate with more people quickly.”
GTG believes the more customers are aware of genetic based risk testing for serious diseases the more they will be empowered to take positive control of their health.
GTG continues to market geneType to Healthcare Professionals (HCP) and Healthcare Systems (HCS) in Australia and the U.S.
Enquiries
Investor Relations
Adrian Mulcahy
Automic Markets
M: +61 438 630 411
E: adrian.mulcahy@automicgroup.com.au
About Genetic Technologies Limited
Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. A global leader in genomics-based tests in health, wellness and serious disease through its geneType and EasyDNA brands. GTG offers cancer predictive testing and assessment tools to help physicians to improve health outcomes for people around the world. The company has a proprietary risk stratification platform that has been developed over the past decade and integrates clinical and genetic risk to deliver actionable outcomes to physicians and individuals. Leading the world in risk prediction in oncology, cardiovascular and metabolic diseases, Genetic Technologies continues to develop risk assessment products. For more information, please visit www.genetype.com
Forward Looking Statements
This announcement may contain forward-looking statements about the Company's expectations, beliefs or intentions regarding, among other things, statements regarding the expected use of proceeds. In addition, from time to time, the Company or its representatives have made or may make forward-looking statements, orally or in writing. Forward-looking statements can be identified by the use of forward-looking words such as "believe," "expect," "intend," "plan," "may," "should" or "anticipate" or their negatives or other variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical or current matters. These forward-looking statements may be included in, but are not limited to, various filings made by the Company with the U.S. Securities and Exchange Commission, press releases or oral statements made by or with the approval of one of the Company's authorized executive officers. Forward-looking statements relate to anticipated or expected events, activities, trends or results as of the date they are made. As forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause the Company's actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause the Company's actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements as detailed in the Company's filings with the Securities and Exchange Commission and in its periodic filings with the ASX in Australia and the risks and risk factors included therein. In addition, the Company operates in an industry sector where securities values are highly volatile and may be influenced by economic and other factors beyond its control. The Company does not undertake any obligation to publicly update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
1 https://www.businesswire.com/news/home/20230308005478/en/United-States-DTC-Direct-to-Consumer-Wellness-Testing-Market-Report-2023-A-4.946-Billion-Market-by-2032---The-Shift-from-Physician-Focused-to-a-Consumer-Focused-Healthcare-Industry-Bodes-Well---ResearchAndMarkets.com
2 GTG is committed to adhering to all regulations associated with the promotion and reporting of Laboratory Developed Tests (LDTs)
