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Genetic Technologies Executes Amendment to Agreement with Quest

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Australian genetics testing firm Genetic Technologies today said today it has executed an amendment to the Non-Coding License Agreement issued to Quest Diagnostics in 2003.

The amendment extends the terms of the Quest's original non-coding license to "regularize Quest's historical" worldwide activities related to its genetic diagnostic and analysis products. Terms of the agreement were not disclosed.

In a statement, Genetic Technologies said that Quest is not a defendant in Genetic Technologies' US patent infringement suit filed in February against several firms.

"These licenses are a material source of non-dilutive funding which the company is using to build its global oncology franchise," Paul MacLeman, CEO of Genetic Technologies, said in a statement.

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