Response Genetics and Genetic Technologies sign exclusive distribution and services agreement

Response Genetics Inc. (Nasdaq: RGDX), a company focused on the development and sale of molecular diagnostic tests for cancer, and Genetic Technologies Ltd. (ASX: GTG; NASDAQ: GENE), the leading private genetic testing laboratory in Australia, today announced an exclusive distribution and services agreement. Under terms of the agreement, Genetic Technologies will become the exclusive distributor in Australia, Indonesia, Malaysia, the Philippines, Singapore and Thailand for Response Genetics’ ResponseDX: Colon™, ResponseDX: Lung™ and ResponseDX: Gastric™ genetic test panels. Financial terms were not disclosed.

“Cancer is a global problem and requires a global solution”

ResponseDX™ tests are proprietary PCR-based tests used to analyze the expression of genes that correlate with response to commonly used chemotherapy agents. Since launching in September 2008, more than 4,700 ResponseDX™ tests have been sold, with a reorder rate of approximately 90 percent. In the U.S., the current run rate is approximately 1,800 tests per quarter with a reimbursement of approximately $1,400 per test. By personalizing care based on a tumor’s genetic makeup, ResponseDX™ tests can help physicians to better tailor treatment for their patients with cancer.

“Cancer is a global problem and requires a global solution,” said Kathleen Danenberg, CEO and president of Response Genetics. “Based on encouraging sales and rapid adoption here in the Unites States, we have embarked on a growth strategy focused on expanding the availability of our tests in additional markets. We are pleased to partner with Genetic Technolgies, the leader in genetic testing in Australia, to make our ResponseDX™ tests available there, as well as in certain Asian countries. Together we hope to reduce the significant social and economic burdens of this devastating disease as more people have an opportunity to experience the benefits of our personalized medicine approach.”

Dr. Paul MacLeman, CEO of Genetic Technologies said, “This is an important further step in Genetic Technologies’ move into advanced cancer management. As previously announced, we are seeking to leverage in-house developed tests through partnerships with third party developers of novel tests. This agreement, which follows a similar distribution arrangement with Rosetta Genomics Inc. and Trimgen Inc., will assist us to expand our growing portfolio of genetic tools that will enable oncologists to more effectively manage patient diagnosis and therapy, improving treatment outcomes. Genetic Technologies is very excited to announce its relationship with Response Genetics, an acknowledged leader in the area of cancer diagnostic test development.”

ResponseDX™ genetic tests are available in the United States through direct sales and through NeoGenomics Laboratories, the exclusive national clinical reference laboratory authorized to offer Response Genetics’ proprietary tests. All tests are performed through Response Genetics’ CLIA-certified laboratory.

http://www.responsegenetics.com/

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