24 Nov

GTG Chairmans Address to the 2021 AGM

Genetic Technologies Limited www.gtglabs.com info@gtglabs.com ABN 17 009 212 328 60 - 66 Hanover Street Fitzroy Victoria 3065 Australia +61 3 8412 7000 Melbourne, Australia, 24 November 2021: Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE, “Company”, “GTG”), a global leader in Genomics based tests in health, wellness and serious disease, provides the Chairman’s address to the Company’s Annual General Meeting on 24 November 2021 at 9am AEDT: Firstly, I’d like to extend our gratitude to you, our shareholders, and to our industry and business partners who have supported us over the year. Your support has established GTG as a leading provider of Genomics based risk assessment tests for serious disease. 2021 presented many challenges for both established and emerging businesses due to COVID-19, however, Genetic Technologies was well positioned having made strategic decisions early on to ensure the Company was able to progress its strategy despite the macro challenges present. This included the decision to raise A$14 million in capital over the year via our US bankers to provide the ongoing resources to progress our product development and ultimately to provide the ability to pursue complimentary acquisitions. Additionally, we broadened our product pipeline from a single test to a multi- test covering the majority of serious diseases and invested significantly in the development of our COVID-19 Risk Test. The decision to focus our resources over the course of FY21 on the development of our COVID-19 Risk Test, was in part due to the commercial opportunity but also the ethical and social responsibility the company held to assist humanity with our skill sets and technology in developing genomic based risk assessment tests. We were incredibly pleased to finish the year with the announcement of our partnership with IBX for the commercial release of our COVID-19 Risk Test within the highly regulated United States. This achievement is recognition of the dedication of our Chief Scientist Dr Richard Allman and his team and the support of Dr George Muchnicki as Chief Medical Officer and Interim CEO. Over the year we also invested significantly in the management bench strength of GTG with the appointment of Simon Morriss as CEO, Mike Tonroe as CFO and Carl Stubbings to the role of Chief Commercial Officer. We have established a strong management team with the requisite skills and expertise to drive forward with the company’s strategy and are confident in the team to deliver value to our shareholders. GTG Chairman’s Address to the 2021 Annual General Meeting Genetic Technologies Limited www.gtglabs.com info@gtglabs.com ABN 17 009 212 328 60 - 66 Hanover Street Fitzroy Victoria 3065 Australia +61 3 8412 7000 We are pleased to note the significant contributions they have already made in the strategic direction and processes for Genetic Technologies. We look forward to the year ahead where this vast experience and initial foundational work is translated into realised revenues for the Company. The GTG Board is committed to responsible management of shareholder funds while ensuring the Company remains appropriately resourced to execute on its strategic objectives. We have continued to appropriately manage our financial requirements in Australia and the United States by ensuring we have appropriate levels of funding to abide by our listing requirements. This continues to be a focus for the Company and over the course of the year we raised A$14 million (before costs) from US Institutional Investors to underpin the execution of our long-term strategy. This allowed us to execute on the strategic acquisition of EasyDNA, which Simon will touch on in more detail within the CEO address, and to deliver on the launch of the COVID-19 Risk Test and the ongoing development of the multi-test and laboratory expansion. We have a strong Board of Directors with the experience and skills necessary to assure sound governance, while also providing effective support and guidance for management. I thank them personally for their ongoing support and especially Dr Muchnicki who did an outstanding job to reposition the Company as Interim CEO. We further strengthened our governance with the addition of a Scientific Advisory Board (SAB). The SAB comprises Professor Jon Emery, Professor Finlay Macrae AO, and Dr Ora K Gordan, and members of the GTG executive team. The SAB is charged with advising the Board and executive leadership team on scientific matters involving product development, interactions with academic and other external research organisations, emerging concepts and industry trends, and the acquisition of technologies. Given GTG is in the early stages of commercialisation, the SAB has a balance of experience relevant to building market adoption globally of GTG's products including primary care, consumer education and clinical guidelines. The SAB will provide strategic counsel to the Board and Management on both launched products and products in development. While additional appointments may be made in the future, the three members bring a wide range of clinical and research experience and provide GTG with coverage of our target markets, both domestic and international. The SAB brings together some of the brightest minds in genomics, preventative healthcare, serious disease, and data driven research. We look forward to drawing on their advice and experience as we launch and develop leading technologies for individualised risk assessment of serious disease. Finally, on behalf of the Board, I would like to thank our employees for their perseverance during this monumental year. We are also, as previously stated, grateful to our shareholders for your ongoing support throughout the year and your participation in our transformational capital raises which will enable management to deliver on the promise that genomics is not just the way of the future, but it is viable and available now through GeneType and EasyDNA. Authorised for release by the Board of Genetic Technologies Limited. -END- Genetic Technologies Limited www.gtglabs.com info@gtglabs.com ABN 17 009 212 328 60 - 66 Hanover Street Fitzroy Victoria 3065 Australia +61 3 8412 7000 Investor Relations (AUS) Investor Relations and Media (US) Stephanie Ottens Dave Gentry Market Eye 1 800 RED CHIP (733 2447) M: +61 434 405 400 Cell: 407 491 4498 E: stephanie.ottens@marketeye.com.au E: dave@redchip.com About Genetic Technologies Limited Genetic Technologies Limited (ASX: GTG; Nasdaq: GENE) is a diversified molecular diagnostics company. GTG offers cancer predictive testing and assessment tools to help physicians proactively manage patient health. The Company’s lead products GeneType for Breast Cancer for non-hereditary breast cancer and GeneType for Colorectal Cancer are clinically validated risk assessment tests and are first in class. Genetic Technologies is developing a pipeline of risk assessment products. For more information, please visit www.gtglabs.com
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