6 Feb 2012
In compliance with ASX Continuing Disclosure Rules, Genetic Technologies Limited (ASX: GTG; NASDAQ: GENE) is pleased to report that it has executed a Settlement and License Agreement with Eurofins STA Laboratories, Inc. (“Eurofins STA”) of Longmont, Colorado, USA. Under the Agreement, Eurofins STA is granted non-exclusive rights to a number of GTG patents relating to its non-coding DNA technology. As with other similar agreements, the precise commercial terms of the Agreement are covered by formal confidentiality provisions and cannot be disclosed.
Eurofins STA was a counterparty to the third formal patent assertion suit filed by Genetic Technologies against ten companies in the US District Court for the District of Colorado (see GTG announcement dated May 26, 2011) and is now the third counterparty in this case to settle with Genetic Technologies.
Discussions with other parties both internal and external to the formal assertion program are ongoing and progressing. Further details will be released to the Market as appropriate.