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SALT LAKE CITY, April 9, 2003 — MELBOURNE, Australia, April 9 /PRNewswire-FirstCall/ --Genetic Technologies Limited (ASX: GTG; Nasdaq: GNTLF) announced it has granted a license to its non-coding patents to Associated Regional & University Pathologists, Inc. (ARUP), of Salt Lake City, Utah. ARUP is a sophisticated laboratory system owned by University of Utah. It provides an extensive range of pathology and genetic tests, some for research and teaching purposes, but much of it also for commercial purposes. This license is the first one granted by Genetic Technologies to a service provider, a laboratory actually performing a wide range of genetic tests. The license takes effect from March 31, 2003, and ARUP now pays Genetic Technologies an up-front fee of $75,000.
Dr. Mervyn Jacobson, Executive Chairman of Genetic Technologies, commented, "We are pleased with this first license to a diagnostic/laboratory facility. This deal with Associated Regional & University Pathologists further validates our past research and our focus on building our patent portfolio."
About Associated Regional & University Pathologists ...
ARUP Laboratories is a national full-service reference laboratory owned by the University of Utah Health Sciences Center. ARUP is a leader in innovative laboratory research and development, led by the efforts of the ARUP Institute for Clinical and Experimental Pathology, LLC. ARUP offers over 2,000 tests and test combinations, ranging from routine cytology screens to highly esoteric molecular and genetic assays. ARUP's clients include university teaching hospitals, multi-hospital groups, major commercial laboratories, group purchasing organizations, military and government facilities, major clinics, and major pharmaceutical firms. Additional information is available on ARUP's Web site at http://www.aruplab.com.
About Genetic Technologies ...
Genetic Technologies is an Australian biotechnology company that holds several US and international patents in three leading areas of genetics: non-coding sequence/intron DNA analysis, non-coding sequence genomic mapping, and fetal cell recovery. The non-coding patents cover most genes in most species. Genetic Technologies also operates the largest DNA laboratory in Australia for paternity testing. The Company is also pursuing research in the treatment of AIDS, animal and plant genetics, and the control of parasites in livestock using gene-based strategies.
Safe Harbor Statement ...
Statements herein that are not descriptions of historical facts are forward-looking and subject to risk and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including those set forth in the Company's Securities and Exchange Commission filings under "Risk Factors," including risks relating to license agreements; dependence on third parties; future capital needs.
For more information please contact:
| Genetic Technologies Dr. Mervyn Jacobson Executive Chairman (970) 310-3857 |
Associated Regional & University Pathologists Dr. Ronald Weiss Senior Vice President (801) 583-2787 |
SOURCE Genetic Technologies Limited; Associated Regional & University PathologistsWeb Site: http://www.aruplab.com