Mainz Biomed Announces Addition of Eurofins GeLaMed to its Growing Network of Lab Partners
May 03 2023 - 3:01AM
Mainz Biomed NV (NASDAQ:MYNZ) (“Mainz Biomed” or the “Company”), a
molecular genetics diagnostic company specializing in the early
detection of cancer, announced today that it has added Eurofins
GeLaMed to its network of lab partners offering PCR test kit
processing of ColoAlert®, its flagship product that is a highly
efficacious and easy to use at-home screening test for colorectal
cancer (CRC). Eurofins GeLaMed has four locations throughout
Germany and is part of Eurofins Scientific, an international
laboratory group with more than 61,000 employees in 61 countries,
conducting more than 450 million tests annually.
Eurofins GeLaMed provides its customers with a wide range of
high-quality services across eleven medical departments covering
advanced and modern diagnostic options in human genetics, medical
microbiology, laboratory medicine and molecular diagnostics.
According to GeLaMed, its almost 500 employees process more than
15,000 orders per working day and offer more than 2,000 different
analytical methods from their laboratory medicine and microbiology
portfolios under the direction of medical specialists.
Marcus Cholewa, Business Line Director Clinical Diagnostics DACH
at Eurofins, expressed excitement about the collaboration between
Mainz Biomed and Eurofins GeLaMed, stating that Eurofins is always
dedicated to delivering excellent customer service, quality, and
advanced analytical solutions, as well as the most comprehensive
range of testing methods. He also mentioned that Eurofins has a
history of introducing innovative and high-value diagnostic testing
products, and that by collaborating, they could assist in
identifying colorectal cancer (CRC) and provide patients with
personalized information to effectively manage their health.
Under the terms of the agreement, Eurofins GeLaMed will offer
ColoAlert at its testing sites and Mainz Biomed will assist with
physician and patient education programs as part of the product
launch, highlighting the importance of early screening for the
detection and prevention of CRC.
About ColoAlertColoAlert®, Mainz Biomed’s
flagship product, delivers high sensitivity and specificity in a
user-friendly, at-home colorectal cancer (CRC) screening kit. This
non-invasive test can be indicative of tumors as determined by
analyzing tumor DNA, offering better early detection than fecal
occult blood tests (FOBT). Based on PCR-technology, ColoAlert
detects more cases of colorectal cancer than other stool tests and
allows for an earlier diagnosis (Gies et al.,
2018). The product is commercially available in select EU
countries through a network of leading independent laboratories,
corporate health programs and via direct sales. To receive
marketing approval in the US, ColoAlert will be evaluated in the
FDA-registration trial ‘ReconAAsense.’ Once approved in the US, the
Company’s commercial strategy is to establish scalable distribution
through a collaborative partner program with regional and national
laboratory service providers across the country.
About Colorectal CancerColorectal cancer (CRC)
is the third most common cancer globally, with more than 1.9
million new cases reported in 2020, according to World Cancer
Research Fund International. The US Preventive Services Task Force
recommends that screening with stool DNA tests such as ColoAlert
should be conducted once every three years starting at age 45. Each
year in the US, 16.6 million colonoscopies are performed. However,
roughly one-third of US residents aged 50-75 have never been
screened for colon cancer. This gap in screening represents a
$4.0B+ total market opportunity in the US.
About Mainz Biomed NVMainz Biomed develops
market-ready molecular genetic diagnostic solutions for
life-threatening conditions. The Company’s flagship product is
ColoAlert, an accurate, non-invasive and easy-to-use,
early-detection diagnostic test for colorectal cancer based on
real-time Polymerase Chain Reaction-based (PCR) multiplex detection
of molecular-genetic biomarkers in stool samples. ColoAlert is
currently marketed across Europe. The Company is running a pivotal
FDA clinical study for US regulatory approval. Mainz Biomed’s
product candidate portfolio also includes PancAlert, an early-stage
pancreatic cancer screening test. To learn more,
visit mainzbiomed.com or follow us
on LinkedIn, Twitter and Facebook.
For media inquiries, please
contact press@mainzbiomed.com
In Europe:
MC Services AGAnne Hennecke/Caroline Bergmann+49 211 529252
20mainzbiomed@mc-services.eu
In the US:
Spectrum ScienceMelissa Laverty/Valerie Enes+1 540 272
6465mainz@spectrumscience.com
For investor inquiries, please
contact info@mainzbiomed.com
Forward-Looking StatementsCertain statements
made in this press release are “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”,
and “project” and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These forward-looking statements reflect the
current analysis of existing information and are subject to various
risks and uncertainties. As a result, caution must be exercised in
relying on forward-looking statements. Due to known and unknown
risks, actual results may differ materially from the Company’s
expectations or projections. The following factors, among others,
could cause actual results to differ materially from those
described in these forward-looking statements: (i) the failure to
meet projected development and related targets; (ii) changes in
applicable laws or regulations; (iii) the effect of the COVID-19
pandemic on the Company and its current or intended markets; and
(iv) other risks and uncertainties described herein, as well as
those risks and uncertainties discussed from time to time in other
reports and other public filings with the Securities and Exchange
Commission (the “SEC”) by the Company. Additional information
concerning these and other factors that may impact the Company’s
expectations and projections can be found in its initial filings
with the SEC, including its annual report on Form 20-F filed on May
5, 2022. The Company’s SEC filings are available publicly on the
SEC’s website at sec.gov. Any forward-looking statement made by us
in this press release is based only on information currently
available to Mainz Biomed and speaks only as of the date on which
it is made. Mainz Biomed undertakes no obligation to publicly
update any forward-looking statement, whether written or oral, that
may be made from time to time, whether as a result of new
information, future developments or otherwise, except as required
by law.
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