Genetic Technologies Limited (ASX: GTG, NASDAQ: GENE) today reported early insights from the US regional launch of BREVAGen™, its new, easy-to-use, predictive risk test for the tens of millions of women at intermediate risk of developing breast cancer. The Company’s US-based subsidiary, Phenogen Sciences Inc., ( http://www.phenogensciences.com) began its progressive roll-out of BREVAGen™ to obstetricians and gynecologists in eight metropolitan areas in the third quarter of 2011, with anticipated territory expansion in the coming months. BREVAGen™ is the first clinically validated breast cancer predictive risk assessment tool that combines a woman’s genetic information with clinical data to assist physicians in developing personalized risk management plans.
Mr. Lewis J. Stuart, President of Phenogen Sciences Inc., said “The early response to BREVAGen™ has been positive, particularly in those practices with a strong orientation toward breast cancer prevention. We are adjusting the way physicians think about breast cancer risk and how it relates to all women, not just those with known high-risk genes. While this requires additional education, BREVAGen™ has been designed to fit nicely into current clinical risk assessment guidelines, simplifying in-office implementation of the test.”
Over the first 90 days, the Phenogen sales team made more than 2,800 sales calls, reaching 800 physicians, representing good penetration into its initial tier one targets. During this same timeframe, 600 test kits were placed in targeted accounts, resulting in early adopter BREVAGen™ use within two weeks of launch.
The Company has commenced processing re-imbursements on initial BREVAGen™ test sales. As part of a longer term insured lives contracting and credentialing strategy, the Company has also commenced the credentialing process with the US’ top-10 preferred provider organizations (PPO), which represent more than 60 percent of covered lives in the US. In the last two weeks, the first PPO contract was finalized with additional contracts anticipated to be completed by the end of the quarter.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV