The test, known as the Rapid Prion-Detection Assay, was developed by Genesis' portfolio company Prion Developmental Laboratories. The patent covers the use of this method of testing for all transmissible spongiform encephalopathies in animals and humans.
"This is a pivotal patent for the industry and for consumers as it clears the path for producers and meat packers in the United States to economically test all beef produced for consumption and to ensure that exported beef is free from the infectious agent that causes mad cow disease," Robert Petersen, chief executive officer of PDL, said in a statement.
"We believe this is a critically important development that can have substantial economic benefit to the $98 billion United States beef industry by enabling regimens to test every animal before the animal is processed and shipped to food stores or exported to foreign nations," Petersen added.
2014: The Year in Music [PHOTOS]