Genetic Technologies Limited (ASX:GTG, NASDAQ:GENE, OTC:GNTLF) CEO Simon Moriss sits down with Proactive’s Jonathan Jackson after the company completed a Registered Direct Offering, generating approximately US$2 million in gross proceeds.
The company plans to use the net proceeds for various growth initiatives. Key areas of focus include enhancing revenue through sales and marketing strategies, particularly through its digital platforms and consumer-initiated platforms.
Additionally, the funds will support the commercialization of the GeneType Multi Risk test across US business-to-business channels involving health systems and employers. The company also aims to expand into new markets in Europe and Southeast Asia.
A significant portion of the funding will be directed towards launching the 'World First' Comprehensive Hereditary Breast and Ovarian Cancer Risk Test. This initiative falls under the company's germline genetic testing division and includes the development of this comprehensive risk test.
The funds are also allocated for other working capital and general corporate purposes.