MELBOURNE, Australia, Feb. 06, 2018 (GLOBE NEWSWIRE) -- Genetic Technologies Limited (ASX:GTG) (NASDAQ:GENE) ("Company", "GTG"), advises that the Board and Mr Eutillio Buccilli have today agreed that Mr Buccilli step down as Chief Executive Officer with immediate effect. Mr Buccilli commenced with the Company in June 2014 as CFO and was appointed Chief Executive Officer in February 2015. The Board would like to thank Mr Buccilli for his contributions during his time with the company and wishes him all the best for the future. In the interim, Dr Kasian has been appointed as acting Chief Executive Office, whilst the Company undertakes an executive search for a new chief executive officer. FOR FURTHER INFORMATION PLEASE CONTACT Dr Paul Kasian Jason Wong (USA)Director Blueprint Life Science GroupGenetic Technologies Limited +1 (415) 375 3340, Ext. 4+ 61 3 8412 7000 About Genetic Technologies LimitedGenetic Technologies is a molecular diagnostics company that offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company's lead product, BREVAGen plus ®, is a clinically validated risk assessment test for non-hereditary breast cancer and is first in its class. BREVAGen plus is designed to facilitate better informed decisions about breast cancer screening and preventive treatment plans, and is directed towards women aged 35 years or above, who have not had breast cancer and have one or more risk factors for developing breast cancer. The Company markets BREVAGen plus, through its U.S. subsidiary Phenogen Sciences Inc., to healthcare professionals in comprehensive breast health care and imaging centres, as well as to obstetricians/gynaecologists (OBGYNs) and breast cancer risk assessment specialists (such as breast surgeons). For more information, please visit www.brevagenplus.com and www.phenogensciences.com. Genetic Technologies is developing a pipeline of risk assessment products including a novel colorectal cancer (CRC) test. For more information, please visit www.gtgcorporate.com Safe Harbor Statement Any statements in this press release that relate to the Company's expectations are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act . The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees. Since this information may involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. Additional risks associated with Genetic Technologies' business can be found in its periodic filings with the SEC.