Pet cares

Completion of the acquisition of AffinityDNA in global expansion

MELBOURNE, Australia, July 14. Feb. 20, 2022 (GLOBE NEWSWIRE) — Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company,” “GENE”), a global leader in genomics-based testing for health, wellness and serious disease is delighted to announce that it has completed the acquisition of the direct-to-consumer e-commerce business and associated distribution rights from AffinityDNA, as announced on May 16, 20221.

Acquisition Highlights:

  • Strategic acquisition strengthens direct-to-consumer channel for GENE, building on EasyDNA’s recently announced additional expansion opportunities (ASX July 5, 20222).
  • Provides an additional platform for growth in the multi-billion dollar consumer genomics market, leveraging AffinityDNA’s well-established market worldwide, including the US, UK and in Europe.
  • The three brands, geneType, EasyDNA and AffinityDNA now anchor GENE’s revenue with the most comprehensive testing portfolio available for people and animals, including non-invasive prenatal testing (NIPT), carrier screening, monogenic diseases and pet care.
  • This acquisition now expands GENE’s test portfolio to 51 tests in 14 categories in more than 40 countries. Currently, Affinity sells a wide range of DNA tests, including genomic lifestyle, health and wellness tests, and animal tests related to allergies and tolerances through online marketplaces including Amazon .
  • Under the terms of the agreement, GENE has acquired all of AffinityDNA’s assets, including websites, brand identities, lab tests and distribution agreements, as announced by the company on May 16. 2022.

This is GENE’s second acquisition in 12 months as part of its planned expansion into the direct-to-consumer market. In August 2021, the Company acquired EasyDNA, providing access to all of its related brands, websites and reseller agreements on 70 websites in 40 countries and 12 partner laboratories.

Simon Morriss, Managing Director of GENE, said: “AffinityDNA is an exciting addition to the GENE group. This acquisition builds on our direct-to-consumer channel and supports the promotion of the geneType Multi Risk test for severe disease in our target markets around the world. We look forward to working closely with the AffinityDNA team to grow their already impressive sales performance.

GENE began to integrate the existing team, retaining the skills and expertise of AffinityDNA’s UK-based employees. This includes maintaining key management in an advisory role. There will be no changes to GENE’s Board of Directors and key management personnel.

About Genetic Technologies Limited
Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. A global leader in genomics-based testing for health, wellness and critical illness through its geneType and EasyDNA brands. GENE offers predictive cancer tests and assessment tools to help physicians improve health outcomes for people around the world. The Company’s Polygenic Risk Scores (PRS) platform is a proprietary risk stratification platform developed over the past decade integrating clinical and genetic risks and providing actionable results for physicians and individuals. World leader in risk prediction in oncological, cardiovascular and metabolic diseases. Genetic Technologies continues to develop a line of risk assessment products. For more information, visit www.genetype.com

About AffinityDNA
AffinityDNA is a market-leading DNA testing company with over 15 years of DNA experience and established partnerships with some of the most accredited DNA testing laboratories in the world. They offer a number of lifestyle, health and wellness tests, as well as animal testing for allergies and tolerances. For more information, please visit: https://www.affinitydna.co.uk/

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1 Acquisition of Global Direct to Consumer Ecommerce Business
2 EasyDNA expands Indian and European markets