Genetic Technologies (GENE) Surges on University of Melbourne Development Agreement
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Genetic Technologies (GENE) Enters $6M ADS Direct Offering
December 1, 2016 9:09 AM ESTGenetic Technologies Limited (Nasdaq: GENE) announced that it has entered into a definitive agreement with U.S. institutional investors, pursuant to which the investors have agreed to purchase an aggregate of 4,800,000 American Depositary Shares ("ADSs"), each representing one hundred and fifty (150) of the Company's Ordinary Shares, at a weighted average price of $1.25 per ADS. The Company will receive gross proceeds of approximately USD 6.0 million, before deducting customary offering expenses.
The offering is expected to close on or about December 6, 2016, subject to satisfaction of customary closing conditions.
The funds raised under the... More
Genetic Technologies (GENE), University of Melbourne Enter Development Agreement for Colorectal Cancer Risk Assessment Test
November 29, 2016 6:26 AM ESTGenetic Technologies (NASDAQ: GENE) announced the signing of an exclusive worldwide license agreement with The University of Melbourne for the development and commercialisation of a novel colorectal cancer (CRC) risk assessment test.
The core technology behind this CRC risk assessment test was developed by Professor Mark Jenkins and his research team at the Universitys Centre for Epidemiology and Biostatistics. Results from preliminary modelling studies were first published online in Future Oncology on 1 February 2016, in a paper entitled Quantifying the utility of single nucleotide polymorphisms to guide colorectal cancer screening, 2016 Feb: 12(4), 503-13. This simulated... More
