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Melbourne, Jan 15, 2008 (ABN Newswire) - Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) wishes to advise of its progress in licensing its core intellectual property pertaining to non-coding DNA.
During the 2007 financial year, GTG earned $11.3 million in license fees which was significantly higher than in previous years. So far this financial year, the Company has continued to make good progress with approximately $6.6 million in license fees having been received to the end of December 2007.
Several new licenses, including those previously announced, as well as licenses recently granted to Kimball Genetics and Prometheus Laboratories have helped GTG to generate a solid first half result. While predicting the timing and quantum of future license fees is inherently difficult, the Company remains satisfied with the progress of its licensing program.
During the 2007 financial year, GTG earned $11.3 million in license fees which was significantly higher than in previous years. So far this financial year, the Company has continued to make good progress with approximately $6.6 million in license fees having been received to the end of December 2007.
Several new licenses, including those previously announced, as well as licenses recently granted to Kimball Genetics and Prometheus Laboratories have helped GTG to generate a solid first half result. While predicting the timing and quantum of future license fees is inherently difficult, the Company remains satisfied with the progress of its licensing program.
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About Genetic Technologies Limited
Genetic Technologies was an early pioneer in recognizing important new applications for "non-coding" DNA (DeoxyriboNucleic Acid). The Company has since been granted patents in 24 countries around the world, securing intellectual property rights for particular uses of non-coding DNA in genetic analysis and gene mapping across all genes in all multicellular species. Its three-pronged business strategy includes: 1) the global commercialization of its patents through an active licensing program; 2) the expansion of its dominant commercial genetic testing business in Australia; and, 3) the commercialization of its various research and development projects aimed at generating further intellectual property of global commercial significance.
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