{"id":391798,"date":"2020-12-02T09:03:23","date_gmt":"2020-12-02T14:03:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=391798"},"modified":"2020-12-02T09:03:23","modified_gmt":"2020-12-02T14:03:23","slug":"genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/","title":{"rendered":"Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">MELBOURNE, Australia, Dec.  02, 2020  (GLOBE NEWSWIRE) &#8212; Molecular diagnostics company Genetic Technologies Ltd (ASX: GTG; NASDAQ: GENE, the \u2018Company\u2019), announced today that they have entered into a three-year partnership agreement with mental health company, Taliaz, for the distribution rights of their PREDICTIX products in Australia, New Zealand and the USA (\u201cAgreement\u201d).<\/p>\n<p>\n        <strong>Key Highlights<\/strong>\n      <\/p>\n<ul>\n<li>Expands GTG\u2019s product offering and establishes the mental health vertical through distribution partnership agreement harnessing PREDICTIX, Taliaz\u2019s CE-registered, genomic-based, AI driven antidepressant selection technology that can improve today\u2019s antidepressant prescribing accuracy by 47%<sup>4<\/sup><\/li>\n<li>Potential to address the growing economic burden associated with diagnosing and treating depressive disorders in Australia, New Zealand and the USA<\/li>\n<li>Continues GTG\u2019s progress towards offering a highly comprehensive suite of polygenic risk assessment tests and represents GTGs first foray into pharmacogenomics*<\/li>\n<li>Under the terms of the binding agreement, Taliaz will grant GTG:<br \/>\u00a0 \u00b0\u00a0 Exclusive distribution to their PREDICTIX products within Australia and New Zealand for a period of three years<br \/>\u00a0 \u00b0\u00a0\u00a0Non-exclusive distribution rights within the United States for a period of three years<\/li>\n<\/ul>\n<p>The Agreement will support GTG to expand its product offering and establish the mental health vertical by harnessing PREDICTIX, Taliaz\u2019s pioneering decision-support and management platform to optimize patient treatment for mental health disorders. Starting in the field of depression, this genomic-based, Artificial Intelligence (AI) driven antidepressant selection technology, marks GTG\u2019s first foray into pharmacogenomics<sup>1<\/sup>.<\/p>\n<p>George Muchnicki, GTG\u2019s Interim CEO stated: \u2018We are incredibly pleased to have partnered with Taliaz to bring their predictive and personalized mental health product to Australia and New Zealand. GTG are at the forefront of providing personalized and predictive products to empower patients to make informed decisions about their health. This distribution agreement is our first external product partnership and our first product within the mental health vertical. Mental health has remained at the forefront of media discussions and government initiatives within Australia, New Zealand and globally due to the ongoing social and economic impact and given the impact from the current global pandemic. We look forward to working closely with the Taliaz team to deliver their product into these markets at this critical time.\u201d<\/p>\n<p>The execution of the Agreement is reliant on product regulatory clearance by the Therapeutic Goods Administration (TGA) in Australia and Food and Drug Administration (FDA) in the USA. Once cleared, GTG has committed to providing a minimum distribution of 8,000 tests over the initial three-year term with an associated minimum cost to GTG of $200,000 over the term, inclusive of licencing fees and a percentage based fee per test paid to Taliaz. Subject to the regulatory clearance process, GTG anticipates that PREDICTIX will be made available for sale and distribution in Australia and New Zealand in Q3 FY21 on GTG\u2019s existing Consumer Initiated Testing (CIT) platform, with end-customer pricing to be determined but anticipated to be in line with existing GTG product pricing.<\/p>\n<p>PREDICTIX, developed by the private Israeli company, Taliaz, addresses the growing burden on society from depression, with 1 in 10 Americans<sup>2<\/sup> and 1 in 8 Australians<sup>3<\/sup> prescribed antidepressants per year. PREDICTIX enables a more accurate and rapid treatment plan for patients suffering from depression, reducing\u00a0treatment costs and the overall associated economic burden.<\/p>\n<p>PREDICTIX is an algorithmic-based decision support tool that can improve today\u2019s antidepressant prescribing accuracy by 47%<sup>4<\/sup>. Combining DNA testing with AI, PREDICTIX empowers doctors to improve the assessment, treatment, and management of mental health disorders.<\/p>\n<p>The PREDICTIX technology uses AI to analyse multiple data streams, including patients\u2019 genomic, clinical history and demographic background, providing doctors with a personalized patient report. The report ranks the statistical efficacy and potential side effects of various antidepressant medication based on each patient\u2019s genetic makeup and\u00a0health record. This helps doctors optimize prescribing decisions for patients diagnosed with depressive disorder, where there is currently a long and painful trial and error period. PREDICTIX is CE-registered and commercially available in the UK, France and Israel, with the process underway for TGA approval.\u00a0<\/p>\n<p>Dekel Taliaz, CEO and Co-founder of Taliaz said, \u201cWe are excited to partner with Genetic Technologies, world-leaders in the genetic risk assessment space. This new partnership will support rapid commercialization of PREDICTIX to help more depression sufferers in Australia, New Zealand and the USA, while adding a complementary and advanced mental health solution to GTG\u2019s growing suite of DNA tests.\u201d<\/p>\n<p>The Agreement strengthens GTG\u2019s mission in creating a suite of tests to enable a holistic and predictive health assessment for patients, which can be adjusted to address the individual patient risks and needs. Establishing the first product within the mental health and pharmacogenetic space continues GTG\u2019s progress towards being able to offer a highly comprehensive suite of polygenic risk assessment tests via GTG\u2019s CIT platform and additional sales and marketing avenues as these are progressed.\u00a0<\/p>\n<p>\n        <em>Th<\/em><br \/>\n        <em>is<\/em><br \/>\n        <em> announcement was approved by the Board of Directors<\/em><br \/>\n        <em> of Genetic Technologies Limited<\/em><br \/>\n        <em>.<\/em><br \/>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Investor Relations (AUS)<\/strong>\n          <\/td>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Investor Relations and Media (US)\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Stephanie Ottens<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Dave Gentry<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Market Eye<\/td>\n<td style=\"text-align: left;vertical-align: middle\">1 800 RED CHIP (733 2447)\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">M: +61 434 405 400<\/td>\n<td style=\"text-align: left;vertical-align: middle\">Cell: 407 491 4498\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">E: <u><a href=\"mailto:stephanie.ottens@marketeye.com.au\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">stephanie.ottens@marketeye.com.au<\/a><\/u><\/td>\n<td style=\"text-align: left;vertical-align: middle\">E: <u><a href=\"mailto:dave@redchip.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">dave@redchip.com<\/a><\/u><\/td>\n<\/tr>\n<tr>\n<td>\u00a0<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">\n            <strong>Taliaz Contact<\/strong>\n          <\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Marketing Manager<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Viki Gronau<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">Taliaz<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">M: +972-54-258-7278<\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: left;vertical-align: middle\">E: <u><a href=\"mailto:viki@taliazhealth.com\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">viki@taliazhealth.com<\/a><\/u><\/td>\n<td>\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>About Genetic Technologies Limited<\/strong>\n      <\/p>\n<p>Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. GTG offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company\u2019s lead products GeneType for Breast Cancer for non-hereditary breast cancer and GeneType for Colorectal Cancer are clinically validated risk assessment tests and are first in class. Genetic Technologies is developing a pipeline of risk assessment products.\u00a0<\/p>\n<p>For more information, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=s-4wca_8o1I3cLvoHmzljqAxQ-yASq17menzDPqOFz6QqnGsPX1HVs2Zhjqavro91sUTUuOwatxpuO1osnMdeQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.gtglabs.com<\/u><\/a><\/p>\n<p>\n        <strong>About <\/strong><br \/>\n        <strong>Taliaz<\/strong>\n      <\/p>\n<p>Taliaz is revolutionizing the treatment and management of mental health disorders with PREDICTIX. PREDICTIX is a CE-registered product that provides an advanced decision support software for psychiatrists and general practitioners. Harnessing artificial intelligence, PREDICTIX can enable easy, effective and rapid patient assessment, improved prescribing precision and management for a wide range of mental health conditions. Starting in the field of depression, the PREDICTIX Genetics and PREDICTIX Digital products can improve today\u2019s prescribing accuracy by up to 47%<sup>4<\/sup>.<\/p>\n<p>For more information, please visit predictix.ai.<\/p>\n<ol>\n<li>Pharmacogenomics is the study of how genes affect a person&#8217;s response to drugs. This relatively new field combines pharmacology (the science of drugs) and genomics (the study of genes and their functions) to develop effective, safe medications and doses that will be tailored to a person&#8217;s genetic makeup.<\/li>\n<li>Source: <a href=\"https:\/\/www.health.harvard.edu\/blog\/astounding-increase-in-antidepressant-use-by-americans-201110203624\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.health.harvard.edu\/blog\/astounding-increase-in-antidepressant-use-by-americans-201110203624<\/a><\/li>\n<li>Source: <a href=\"https:\/\/www.psychwatchaustralia.com\/post\/1-in-8-over-3-million-australians-are-on-antidepressants-why-is-the-lucky-country-so-miserable\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.psychwatchaustralia.com\/post\/1-in-8-over-3-million-australians-are-on-antidepressants-why-is-the-lucky-country-so-miserable#:~:text=In%20the%202018%20financial%20year,SSRIs%20for%20depression%20or%20anxiety.&amp;text=As%20shown%20in%20Table%201,antidepressant%2C%20in%202017%2D18<\/a>.<\/li>\n<li>Based on a retrospective analysis of STAR*D study medications versus current clinician treatment selection prescribing accuracy (Chekroud et al., 2016). STAR*D is one of the world\u2019s largest prospective studies for optimal antidepressant administration.<\/li>\n<\/ol>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NTU0NiMzODUyOTQ4IzIwNTAwMzg=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/438641e0-2f9f-45c6-962a-b561e1cad7ac\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MELBOURNE, Australia, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; Molecular diagnostics company Genetic Technologies Ltd (ASX: GTG; NASDAQ: GENE, the \u2018Company\u2019), announced today that they have entered into a three-year partnership agreement with mental health company, Taliaz, for the distribution rights of their PREDICTIX products in Australia, New Zealand and the USA (\u201cAgreement\u201d). Key Highlights Expands GTG\u2019s product offering and establishes the mental health vertical through distribution partnership agreement harnessing PREDICTIX, Taliaz\u2019s CE-registered, genomic-based, AI driven antidepressant selection technology that can improve today\u2019s antidepressant prescribing accuracy by 47%4 Potential to address the growing economic burden associated with diagnosing and treating depressive disorders in Australia, New Zealand and the USA Continues GTG\u2019s progress towards offering a highly comprehensive suite of polygenic risk &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-391798","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MELBOURNE, Australia, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; Molecular diagnostics company Genetic Technologies Ltd (ASX: GTG; NASDAQ: GENE, the \u2018Company\u2019), announced today that they have entered into a three-year partnership agreement with mental health company, Taliaz, for the distribution rights of their PREDICTIX products in Australia, New Zealand and the USA (\u201cAgreement\u201d). Key Highlights Expands GTG\u2019s product offering and establishes the mental health vertical through distribution partnership agreement harnessing PREDICTIX, Taliaz\u2019s CE-registered, genomic-based, AI driven antidepressant selection technology that can improve today\u2019s antidepressant prescribing accuracy by 47%4 Potential to address the growing economic burden associated with diagnosing and treating depressive disorders in Australia, New Zealand and the USA Continues GTG\u2019s progress towards offering a highly comprehensive suite of polygenic risk &hellip; Continue reading &quot;Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-02T14:03:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NTU0NiMzODUyOTQ4IzIwNTAwMzg=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX\",\"datePublished\":\"2020-12-02T14:03:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\\\/\"},\"wordCount\":1142,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA5NTU0NiMzODUyOTQ4IzIwNTAwMzg=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\\\/\",\"name\":\"Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/","og_locale":"en_US","og_type":"article","og_title":"Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX - Market Newsdesk","og_description":"MELBOURNE, Australia, Dec. 02, 2020 (GLOBE NEWSWIRE) &#8212; Molecular diagnostics company Genetic Technologies Ltd (ASX: GTG; NASDAQ: GENE, the \u2018Company\u2019), announced today that they have entered into a three-year partnership agreement with mental health company, Taliaz, for the distribution rights of their PREDICTIX products in Australia, New Zealand and the USA (\u201cAgreement\u201d). Key Highlights Expands GTG\u2019s product offering and establishes the mental health vertical through distribution partnership agreement harnessing PREDICTIX, Taliaz\u2019s CE-registered, genomic-based, AI driven antidepressant selection technology that can improve today\u2019s antidepressant prescribing accuracy by 47%4 Potential to address the growing economic burden associated with diagnosing and treating depressive disorders in Australia, New Zealand and the USA Continues GTG\u2019s progress towards offering a highly comprehensive suite of polygenic risk &hellip; Continue reading \"Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-02T14:03:23+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NTU0NiMzODUyOTQ4IzIwNTAwMzg=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX","datePublished":"2020-12-02T14:03:23+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/"},"wordCount":1142,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5NTU0NiMzODUyOTQ4IzIwNTAwMzg=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/genetic-technologies-secures-us-and-anz-distribution-rights-for-predictix\/","name":"Genetic Technologies Secures US and ANZ Distribution Rights for PREDICTIX - 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