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BRIEF-Genetic Technologies Signs Multi-Year US Distribution Agreement For COVID Risk Test

Published 04/03/2021, 11:14 pm
Updated 04/03/2021, 11:18 pm
© Reuters.

© Reuters.

March 4 (Reuters) - Genetic Technologies Ltd GTG.AX :

* GENETIC TECHNOLOGIES SIGNS MULTI-YEAR US DISTRIBUTION AGREEMENT FOR COVID RISK TEST

* GENETIC TECHNOLOGIES LTD - CO SIGNS CO-EXCLUSIVE PRODUCTION AND DISTRIBUTION RIGHTS AND LICENSE AGREEMENT WITH INFINITY BIOLOGIX LLC

* GENETIC TECHNOLOGIES LTD - IBX IS REQUIRED TO MAKE MINIMUM PAYMENTS TO CO TOTALING US$2.9 MILLION OVER TERM TO MAINTAIN EXCLUSIVITY

* GENETIC TECHNOLOGIES LTD - UNDERLYING ROYALTY STRUCTURE IS ON A PER UNIT BASIS OF US$10

* GENETIC TECHNOLOGIES LTD - IBX WILL DEFINE AND DECIDE SALES AND END-TO-CONSUMER PRICING STRUCTURE FOR COVID-19 RISK TEST

* GENETIC TECHNOLOGIES LTD - GTG TEAM IS IN FINAL STAGES TO SUBMIT COVID-19 RISK TEST FOR CLEARANCE FROM CLINICAL LABORATORY IMPROVEMENT AMENDMENTS

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