Genetic Technologies Plans Scaled Manufacturing of Covid-19 Test

By Matt Grossman

Genetic Technologies Ltd. plans large-scale manufacturing of a test that could predict whether a person is at risk of a severe course of Covid-19 if infected, the company said Wednesday.

The test could be used to help design quarantine measures against the disease, and to determine who ought to have the highest priority for vaccination if a vaccine becomes available, Genetic Technologies said.

The Australian diagnostics company said it has filed a patent for the test in Australia, adding that its facilities will have the capacity to produce 250,000 tests a year. It also will work with Thermo Fisher Scientific Inc. to create additional global manufacturing capacity, the company said.

Genetic Technologies also is working toward approval for the test in the U.S. with the Centers for Medicare and Medicaid services, the company said.

The company's American depositary receipts climbed more than 25% to $2.85 in premarket trading Wednesday morning.

Write to Matt Grossman at [e-mail]

(END) Dow Jones Newswires

July 15, 2020 09:23 ET (13:23 GMT)

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