ASX Health Stocks: Genetic Tech is now lab certified and begins rollout of its geneType Multi-Test
Health & Biotech
Health & Biotech
Link copied to
At the time of writing, the ASX 200 Health Index (XHJ) is down by 1.90%, while the benchmark ASX 200 has fallen by 0.3%.
Genomics specialist Genetic Technologies (ASX:GTG) says that its laboratory in Fitzroy, Melbourne has received simultaneous NATA accreditation and US Centers for Medicare and Medicaid Services (CMS) CLIA-certification, enabling the commercial launch of its geneType Multi-Test in Australia and the USA, respectively.
These accreditations build credibility and create confidence by providing a structured and reliable framework for the quality of a lab’s results ensuring their traceability, comparability and validity.
With this new development, the door is now open for the official first phase availability of Multi-Test to healthcare professionals, which is now expected to be distributed this week.
This first phase launch of the geneType Multi-Test will cover risk assessment for six serious diseases including breast, colorectal, prostate, and ovarian cancers, coronary artery disease and Type-2 diabetes covering more than 50% of all serious diseases, all in one test sample.
Currently over 212,4001 individuals in Australia and 2.9 million individuals in the US receive a diagnosis related to one of these six diseases annually.
“Gaining accreditation from NATA and CLIA-certification from CMS enables GTG to commercialise a product that has been years in the making, and marks a significant turning point for the company,” said GTG’s CEO, Simon Morriss.
“There is a substantial market opportunity for Multi-Test, and we are excited to leverage our expanded sales and marketing platform to bring this product to market.”
Pathology giant Sonic Healthcare (ASX:SHL) has posted a $827.7m in net profit for the half, a 22% jump on pcp.
Sales of PCR testing kits around the world have helped boost profits, as it announced a $500 million on-market buy-back.
Sonic also announced a 40c a shaere dividend, which was up 11% on pcp.
Vectus Biosystems’ (ASX:VBS) planned dosing for its Phase 1/1b trial of VB0004 to treat fibrotic liver diseases has been reviewed by the Safety Review Committee.
No adverse events have been observed with any of the four doses of VB0004 studied to date, and the latest dose of 100mg has added materially to the therapeutic safety margin for VB0004.
Recce Pharma (ASX:RCE) says the final three patients have now been intravenously dosed with RECCE327 at 500mg, all of whom have indicated to be safe and well tolerated.
Overall, 10 healthy male subjects have now been intravenously dosed in the Phase I intravenous (IV) clinical trial of R327, all showing a good safety and tolerability profile.
R327 is said to be the only clinical-stage new class of antibiotic in the world being developed for sepsis, the largest unmet medical need in human health. Over the next few weeks, Recce will start dosing Cohort 4 patients at higher concentrations.
Bod Australia’s (ASX:BOD) dossier to the UK’s Food Service Agency (FSA) has been approved to progress to the next level.
BOD’s CBD extract products will now receive a registration as a novel food in the UK, with approval expected in coming months.
This approval will allow BOD to continue distributing its leading product ranges in the UK, and pursue additional launches in other high growth verticals.
The company says it is exploring new skincare, beverages, lifestyle, functional food and pet treat product development opportunities.