Mainz Biomed & Dante Labs Announce Partnership for the Commercialization of ColoAlert in Europe and the United Arab Emirates (UAE)
BERKELEY, Calif. and MAINZ, Germany and NEW YORK, May 19, 2022 (GLOBE NEWSWIRE) -- Mainz Biomed N.V. (NASDAQ:MYNZ) (“Mainz” or the “Company”), a molecular genetics diagnostic company specializing in the early detection of cancer and Dante Labs, a global leader in genomics and precision medicine, announced today a partnership for the commercialization of ColoAlert in Italy and the United Arab Emirates (UAE). ColoAlert is Mainz’s flagship product, a highly efficacious and easy to use at-home detection test for colorectal cancer (CRC).
Dante Labs is a global leader in genome sequencing with a product development and commercial franchise focused on providing personalized preventive healthcare solutions by leveraging its robust databases and proprietary software platform to offer next-generation diagnostic tools direct to consumers and healthcare professionals. Inherent to Dante Lab’s business model is managing state-of-the-art genomic sequencing laboratories in multiple international regions, and operating a robust e-commerce platform.
“As a young company with the goal of bringing to market important diagnostic tools to help treat and prevent cancer indications, it’s an absolute pleasure to partner with an industry leader such as Dante Labs,” commented Guido Baechler, Chief Executive Officer of Mainz Biomed. “Our differentiated commercial plan of partnering with third-party laboratories for test kit processing versus the traditional methodology of operating a single facility requires alliances with like-minded companies such as Dante Labs, who share our passion for forward-thinking diagnostic test development and marketing strategies.”
The partnership will first launch ColoAlert in Italy and UAE using Dante’s various established commercial channels. Samples will initially be processed at Mainz’s in-house facility and then Dante will purchase Mainz’s CE-IVD polymerase chain reaction (PCR) assay kits and transition all test processing to Dante’s wholly-owned automated genomic sequencing laboratories in Italy (Europe) and Dubai (UAE) to offer localized service and support.
“We are excited by the opportunity to align with Mainz and represent ColoAlert in these initial markets,” commented Andrea Riposati, Chief Executive Officer of Dante Labs. “Both the product and the Company mirror our mission to develop and market top-tier preventive health solutions and use new channels to make innovative tests available to more patients around the world. With the launch of our enhanced ecommerce platforms for advanced diagnostics, ColoAlert is an amazing product to deliver more personalized medicine.”
ColoAlert is currently marketed across Europe, and the partnership with Dante Labs marks the test’s initial launch in the Middle East. Mainz will continue to develop commercial and R&D partnerships with companies that lead the field of health screening with a particular focus on stool diagnostics.
ColoAlert detects colorectal cancer (CRC) via a simple-to-administer test with a sensitivity and specificity nearly as high as the invasive colonoscopy*. The test utilizes proprietary methods to analyze cell DNA for specific tumor markers combined with the fecal immunochemical test (FIT) and is designed to detect umor DNA and CRC cases in their earliest stages. The product is CE-IVD marked (complying with EU safety, health and environmental requirements) and is transitioning to compliance with IVDR. The product is commercially available in a selection of countries in the Europe Union. Mainz Biomed currently distributes ColoAlert through a number of clinical affiliates. Once approved in the U.S., 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 Cancer
Colorectal cancer (CRC) is the second most lethal cancer in the U.S. and Europe, but also the most preventable with early detection providing survival rates above 90%. Annual testing costs per patient are minimal, especially when compared to late-stage treatments of CRC which cost patients an average of $38,469 per year. The American Cancer Society estimated that in 2021 there were approximately 149,500 new cases of colon and rectal cancer in the U.S. with 52,980 resulting in death. Recent FDA decisions suggest that screening with stool DNA tests such as ColoAlert in the US should be conducted once every three years starting at age 45. Currently there are 112 million Americans aged 50+, a total that is expected to increase to 157 million within 10 years. Appropriately testing these US-based 50+ populations every three years as prescribed equates to a US market opportunity of approximately $3.7 Billion per year.
About Mainz Biomed N.V.
Mainz 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. ColoAlert is currently marketed across Europe with FDA clinical study and submission process intended to be launched in the first half of 2022 for U.S. regulatory approval. Mainz Biomed’s product candidate portfolio includes PancAlert, an early-stage pancreatic cancer screening test based on Real-Time Polymerase Chain Reaction-based (PCR) multiplex detection of molecular-genetic biomarkers in stool samples, and the GenoStick technology, a platform being developed to detect pathogens on a molecular genetic basis.
For more information please visit www.mainzbiomed.com
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About Dante Labs
Certain 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 Prospectus filed on October 12, 2021 and amended on October 25, 2021 and November 1, 2021 as well as the Prospectus filed on January 21, 2022. The Company’s SEC filings are available publicly on the SEC’s website at www.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.