All posts by Genetic Signatures

Genetic Signatures Completes Oversubscribed Share Purchase Plan Offer

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Molecular diagnostics company Genetic Signatures Ltd (ASX: GSS) is pleased to announce that it has successfully completed its share purchase plan offer (SPP Offer).

When the share purchase plan (SPP) was announced on 2 September 2016, it was anticipated that the proceeds of the SPP would be capped at $1 million.

The SPP Offer closed on 23 September 2016 with greater than anticipated interest, which has resulted in the Company receiving applications to participate in the SPP from eligible shareholders that exceeded this proposed cap.

Rather than scale-back applications, the Company has determined to accept all valid applications from eligible shareholders. This has resulted in the Company accepting SPP applications for a total of 2,166,962 shares in the amount of $1,018,504.

Complying with the originally anticipated cap would have resulted in the Company either rejecting a small number of valid applications or refunding a small amount to all applicants, depending on how the Company exercised its discretion to scale-back applications.

The new GSS shares are expected to be allotted on 6 October 2016 and holding statements are expected to be despatched to participating shareholders on 7 October 2016. The new GSS shares are expected to be quoted on ASX on 10 October 2016.

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Open Briefing interview with CEO John Melki – Capital Raising and Company Outlook

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Molecular diagnostics company Genetic Signatures Ltd (ASX: GSS) has released an Open Briefing interview with CEO Dr. John Melki to update the market on the Company’s recent capital raising and future outlook.

Read the full interview here

 

About Open Briefing: Open Briefing is an online investor communication platform that provides ASX listed companies with a dedicated site for hosting, distributing and archiving important market updates and provides investors with a central resource for increasing their understanding of a company’s fundamentals and strategic direction.

Clinical Validation of Genetic Signatures EasyScreen™ Sexual Health Detection Kit Commenced

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  • Key step in progress toward clinical validation, regulatory approval, and market release of the EasyScreen™ Sexually Transmitted Infection (STI) Detection Kit
  • Next step in Genetic Signatures product range expansion
  • Large addressable STI testing market estimated at US$550M globally in 2017[1]
  • Preliminary results anticipated Q2 FY17

Molecular diagnostics company Genetic Signatures Ltd (ASX: GSS) is pleased to announce that a trial of the EasyScreen™ Sexually Transmitted Infection (STI) Detection Kit has commenced with a clinical partner. The trial will examine clinical patient specimens and compare the EasyScreen™ results with those obtained via current testing standards.

Sexually Transmitted Infections (STIs) have a significant impact on sexual and reproductive health with the World Health Organisation (WHO) reporting that more than 1 million STIs are contracted on a daily basis[2].

The EasyScreen™ STI Detection Kit was developed over fifteen months and leverages the company’s proprietary molecular diagnostic (MDx) 3Base platform technology. The EasyScreen™ STI Detection Kit can simultaneously identify twelve of the most significant and commonly encountered STIs. The trial data will be used to support full regulatory approvals.

“This is an important step in our EasyScreen™ product range expansion strategy. Clinical validation data will allow us to progress toward market release and regulatory approval for this product.” said Genetic Signatures’ Chief Executive Officer, John Melki PhD. “Our 3base™ technology allowed us to develop a panel that covers a broad range of significant pathogens for genuine STI screening. As many STIs are asymptomatic and require screening for diagnosis, our test will allow clinicians to detect a broad range of STIs with a single molecular diagnostic assay.”

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[1] Source: World Market for Molecular Diagnostics, 5th. Edition (Infectious Disease, Oncology, Blood Screening, Pre-Natal and Other Areas) Kalorama Information, Published: 1/9/2013, page 168

[2] http://www.who.int/mediacentre/factsheets/fs110/en/

EasyScreen™ Kit shows superior specificity detecting Dientamoeba fragilis in animal faeces

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A recent publication in Veterinary Parasitology by Chan et al. “Detection of Dientamoeba fragilis in animal faeces using species-specific real-time PCR assay” has shown that the EasyScreen™ Enteric Protozoan Detection Kit shows superior specificity detecting Dientamoeba fragilis in animal faeces. The EasyScreen™ kit was compared to two previously published PCR methods. The two previously published PCR methods demonstrated cross-reactivity with other trichomonads commonly found in animal samples whereas the EasyScreen™ kit  showed excellent specificity.

It is of interest that this publication suggests that companion animals may play a role in Dientamoeba fragilis transmission, however, the authors note that further investigation is needed into the epidemiology of D. fragilis infection and in particular when identifying animal hosts of D. fragilis.

Abstract
Dientamoeba fragilis is a potentially pathogenic, enteric, protozoan parasite with a worldwide distribution. While clinical case reports and prevalence studies appear regularly in the scientific literature, little attention has been paid to this parasite’s biology, life cycle, host range, and possible transmission routes. Overall, these aspects of Dientamoeba biology remain poorly understood at best. In this study, a total of 420 animal samples, collected from Australia, were surveyed for the presence of Dientamoeba fragilis using PCR. Several PCR assays were evaluated for sensitivity and specificity. Two previously published PCR methods demonstrated cross-reactivity with other trichomonads commonly found in animal samples. Only one assay exhibited excellent specificity. Using this assay D. fragilis was detected from one dog and one cat sample. This is the first report of D. fragilis from these animals and highlights the role companion animals may play in D. fragilis transmission. This study demonstrated that some published D. fragilis molecular assays cross-react with other closely related trichomonads and consequently are not suitable for animal prevalence studies.

Access the publication here

Genetic Signatures issues first tranche of $14 million share placement

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Molecular diagnostics company Genetic Signatures Limited (ASX:GSS or the Company) is pleased to announce that further to its ASX Announcement of 2nd September 2016, the Board on Thursday 8 September 2016 confirmed the allotment of Tranche 1 of 10,901,161 new shares to be allotted via an institutional placement at an issue price of $0.47, effectively raising $5.1 million.

The Company looks forward to announcing the further approval of the Tranche 2 allotment of 17,906,074 shares to raise a further $8.8 million and a Shareholder Placement Plan (SPP) to raise a further $1 million, which will be considered as resolutions at the coming EGM proposed for Thursday 13 October 2016.

Genetic Signatures’ Chairman, Dr. Nick Samaras, said “I take this opportunity, on behalf of the board, to welcome our new international and domestic shareholders to the register. I also extend our gratitude to existing shareholders who participated in the placement and to those who will participate in the Share Purchase Plan. The proceeds of this oversubscribed placement will enable Genetic Signatures to accelerate its global commercial expansion.”

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Genetic Signatures Limited Completes $14m Capital Raising

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Molecular diagnostics company Genetic Signatures Ltd (ASX: GSS) is pleased to announce that it has successfully completed an institutional placement to raise $14 million through the issue of 29.8 million new shares (Offer).

The proceeds from the Offer will be used for commercial expansion in Australia, the European Union and USA, obtaining further regulatory approvals for Genetic Signatures’ products, continued product development and working capital purposes.

Click here to read the full press release