The planned joint venture with Beijing Zishan Health Consultancy is aimed at bringing Genetic Technologies' genomic tests to the Chinese market.
The company intends to use the proceeds for, among other things, investigating the use of blockchain technology in medicine and biotechnology.
The deal comes a little more than month after the companies agreed to form a joint venture that will develop a blockchain-based healthcare service platform.
A new company will be established to develop a service platform using blockchain technology for medical services and personalized health management.
The partners are aiming to broaden the applicability of Genetic Technologies' BrevaGenplus breast cancer risk assessment test.
The partners aim to develop and access a blockchain-based genomic data management platform for cancer diagnostic development.
Genetic Technologies and Blockchain Global may partner to develop medical and biotechnology applications that combine their respective technologies.
The company's management has also recommended its shareholders vote against resolutions to remove members of its board at an upcoming shareholder meeting.
The company's stock faced delisting for trading below $1 for 30 consecutive business days in violation of the Nasdaq's requirements.
Reuters reports that UK researchers are using gene-editing tools to develop flu-resistant chickens.
Nature calls for genomics to become part of the World Health Organization's cholera surveillance approach.
Vox explores a proposal to institute a lottery system to award grant funds.
In Genome Biology this week: gut microbiome study of individuals from Tanzania and Botswana, sixth version of the Network of Cancer Genes database, and more.