Genetic Technologies Ltd. (GENE) Gives Update on Its Subsidiary
Genetic Technologies is a pioneer in recognizing important new applications for “non-coding” DNA. The company has been granted patents in 24 countries around the world, securing intellectual property rights for uses of non-coding DNA in genetic analysis and gene mapping. Its strategy is to globally commercialize its patents through a licensing program and expansion of its diagnostic portfolio. The company announced today that its privately-held subsidiary, ImmunAid Pty. Ltd., has successfully obtained 1 million Australian dollars in a private placement from investors located in Australia, Europe, and the United States. In return for this investment, the investors have secured a…