Benzinga | Nov 30, 2020 06:37PM EST

Genetic Technologies Announced Agreement for Distribution Rights of Taliaz's Predictix Products in Australia, New Zealand and US

Genetic Technologies Ltd (NASDAQ:GENE) announced today that they have entered into a three-year partnership agreement with mental health company, Taliaz, for the distribution rightsof their PREDICTIX products in Australia, New Zealand and the USA ("Agreement").

Key Highlights Expands GTG's product offering and establishes the mental health vertical through distribution partnership agreement harnessing PREDICTIX, Taliaz's CE-registered, genomic based, AI driven antidepressant selection technology that can improve today's antidepressant prescribing accuracy by 47%4

Potential to address the growing economic burden associated with diagnosing and treating depressive disorders in Australia, New Zealand and the USA

Continues GTG's progress towards offering a highly comprehensive suite of polygenic risk assessment tests and represents GTGs first foray into pharmacogenomics*

Under the terms of the binding agreement, Taliaz will grant GTG:o Exclusive distribution to their PREDICTIX products within Australia and New Zealand for a period of three yearso Non-exclusive distribution rights within the United States for a period of three years

The Agreement will support GTG to expand its product offering and establish the mental health vertical by harnessing PREDICTIX, Taliaz's pioneering decision-support and management platformto optimize patient treatment for mental health disorders. Starting in the field of depression, this genomic-based, Artificial Intelligence (AI) driven antidepressant selection technology, marks GTG'sfirst foray into pharmacogenomics1