Genetic Signatures Reports Regional Success of EasyScreen Gastrointestinal Parasite Detection Kit

Genetic Signatures (ASX: GSS) has reported a strong start to the new financial year with the commercial success of its EasyScreen gastrointestinal parasite detection testing kit across all operating regions, and a 20% increase in sales for the quarter to $5.4 million.

Revenue contributions came from new business with existing customers in Australia, which experienced higher testing rates due to the southern hemisphere winter.

The company also saw a 52% increase in gastrointestinal testing across Europe, Middle East and Africa (EMEA).

Maiden US Commercial Orders

Genetic Signatures signed its maiden commercial order in the US during the quarter, later adding a second with a large, non-profit integrated healthcare organisation, and a third post the rule-off date with a customer experience site—a deal the company expects to further enhance its market visibility.

Net operating cash outflow for the quarter was $2.1 million, while net cash outflows of $400,000 included investments in new equipment for Genetic’s research and development laboratories and for customer sites.

Receipts from customers totalled $5.6m and the first shipment of test kits in September marked a key milestone in Genetic’s commercial expansion.

The company held a total cash balance of $28.2m at end September, with $10.7m in cash at bank and $17.5m in term deposits.

Ongoing Customer Engagement

The Genetic Signatures team continues to work with multiple National Health Service trusts in the UK, where hospitals are using its gastrointestinal viral, bacterial, and parasite test kits to support infection control and outbreak prevention.

The company generated interest from prospective customers in September, when it presented a comprehensive portfolio of testing solutions at the Institute of Biomedical Science Congress in Birmingham.

All engagements have shown strong clinical value and are contributing to a growing pipeline of opportunities to further expand the company’s footprint in the region.

Genetic Signatures continues to assess distribution partnerships across EMEA, focused on markets where local representation is essential due to linguistic and cultural considerations, and where direct sales operations may not be economically viable.

Hardware and Software Integration

The company met with Tecan Group and Repado during the quarter, to further refine the integration of customised software with instrumentation to enable workflow optimisation, laboratory analytics, inventory management, and field service support.

Genetic said the collaboration would help define a detailed scope of work for the integrated customisation of hardware and software components, and that it remains focused on enhancing workflows for on-market products, with an emphasis on increasing automation and improving the usability of current instrumentation.

The company has also named Dr Susanne Pedersen to the role of chief technology officer, responsible for managing the development of its technology and molecular diagnostic products.

Dr Pedersen has over 25 years experience in the development and commercialisation of molecular in vitro diagnostic (IVD) products, and her new role will include the management of ongoing initiatives to optimise and streamline Genetic Signature’s 3base technology platform and workflow, as well as the development of new molecular syndromic IVD tests and related products.