Genetic Technologies Share Price Rockets up due to Binding Agreement

Healthcare business Genetic Technologies Ltd [ASX:GTG] is clearly doing something right as its share price soared 22.22% today.

By entering into a binding agreement with Omix Ventures Private Ltd, also known as Shivom, it’s now able to create new opportunities while expanding its business platform.

Genetic Technologies specialises in diagnostics and research, focusing on data variations to help counter breast cancer.

Shivom is able to provide Genetic Technologies with access to large pools of data in relation to the Indian population, allowing it to conduct new tests related to diabetes and other diseases.

GTG will receive money from Shivom as initial payment for research purposes

Due to its newly acquired funds of $200,000, Genetic Technologies is able to push fourth its product development cycle and activities at a much quicker rate, whilst also potentially expanding its brand exposure.

This partnership has allowed GTG to open up new channels in the market for a more improved cycle of genetic tests and diversification. And with India having such a large population, it’s a great acquisition for its research pool.

GTG is aware of Shivom’s knowledge in technological factors.

Dr Paul Kasian stated on Genetic Technologies media release:

The signing of the Agreement with Project Shivom is the first formal step along the path to what we believe will be a significant opportunity for both parties. GTG is committed to actively developing a range of risk prediction tests that are designed to assist in the early detection of diseases and help physicians improve patient outcomes. Blockchain technology presents a unique opportunity for GTG to contribute to the advancement of cancer and other disease research.

Genetic Technologies agreement with Shivom will hopefully keep the company on the right path to future success in both the genetic testing fields and Genetic Technologies growth.

Regards,

Ryan Clarkson-Ledward,
For Money Morning

PS:If you manage your own money or simply want to learn the most effective strategies to both grow and protect your wealth. Kris Sayce from Money Morninghas written a free article titled ‘Three Best Investments 2018’, a free report which provides all the relevant information you need to know.


Ryan Clarkson-Ledward is an Editor at Money Morning.

Ryan holds degrees in both communication and international business. He helps bring Money Morning readers the latest market updates, both locally and abroad. Ryan tackles all the issues investors need to know about that the mainstream media neglects.

Ryan is also the Editor of Australian Small-Cap Investigator, a stock tipping newsletter that hunts down promising small-cap stocks by dissecting the latest events affecting the world.

To find out more about the publications Ryan works on and how you can subscribe, please click on the corresponding link here:


Leave a Reply

Your email address will not be published. Required fields are marked *

Money Morning Australia