Mainz Biomed Appoints Oncology Expert Dr. Rainer Metzger to Strategic Advisory Board

Rhea-AI Summary

Mainz Biomed (NASDAQ:MYNZ) has appointed Dr. Rainer Metzger to its Strategic Advisory Board, bringing over 25 years of experience in the pharmaceuticals and diagnostics industry. Dr. Metzger's expertise in oncology diagnostics is expected to enhance Mainz's commercial expansion and partnerships. The company emphasizes the early detection capabilities of its ColoAlert test for colorectal cancer, which holds significant market potential, especially with an increasing 50+ population in the U.S. The test is CE-IVD marked and aims for U.S. regulatory approval in 2022.

Positive

• Appointment of experienced Dr. Rainer Metzger to Strategic Advisory Board enhances leadership.
• Dr. Metzger's expertise expected to aid in commercial expansion and strategic partnerships.
• ColoAlert's superior accuracy over traditional colorectal cancer screening methods.
• Significant U.S. market opportunity for ColoAlert, projected at approximately $3.7 billion annually.

Negative

• No negative aspects mentioned.

Former DANAHER, ROCHE & QIAGEN Business Development Executive with Over 25 Years of Experience within the Pharmaceuticals and Diagnostics Industry

BERKELEY, Calif. and MAINZ, Germany, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Mainz Biomed N.V. (NASDAQ:MYNZ) (“Mainz Biomed” or the “Company”), a molecular genetics diagnostic company specializing in the early detection of cancer, announced today the appointment of Dr. Rainer Metzger to its Strategic Advisory Board.

“We’re thrilled to welcome Rainer who brings our Strategic Advisory Board significant senior level commercial experience within the field of oncology diagnostics,” commented Guido Baechler, Chief Executive Officer of Mainz Biomed. “He will play a key role, supporting the Company’s clinical and commercial expansion through introductions to strategic commercial partners and exploration of global distribution relationships as we continue to execute on our business model and expand our market penetration through partnering with leading third-party laboratories across multiple territories.”

Dr. Metzger is a global business executive and operations leader with almost three decades of executive experience within the life science and healthcare sector with global pharmaceutical and diagnostics companies including ROCHE, DANAHER and QIAGEN. During his close-to ten-year career with Roche, Dr. Metzger held several VP roles leading highly-successful global business development and clinical biomarker programs within oncology and corporate and molecular diagnostics. As Roche’s VP, Global Head Business and Biomarker Operations and Biosample and Repository Management, his span of influence included the development of the Pharma Biomarker Personalized Healthcare initiative, and the implementation and delivery of a highly-valuable technology/product portfolio with several hundred individual biomarker programs. As VP, Head of Global Business Development and Strategic Marketing Oncology, he led a multifunctional BD and marketing team developing and executing Roche’s global brand strategy for oncology.

During his multi-year, executive tenure with worldwide provider of molecular sample and assay technologies, QIAGEN, as global department head within diagnostics and pharmaceuticals, Dr. Metzger led business development and drove partnership programs for various disease areas, contributing 20-30% of annual growth through the initiation and execution of master collaboration agreements with the majority of the top 50 global pharma companies.

“I have been exceptionally impressed by what has already been achieved at Mainz Biomed,” said Dr. Metzger. “The ColoAlert test provides superior accuracy and simplicity over current incumbent Colorectal Cancer screening methods and having successfully led business development strategies for multiple new and pioneering diagnostic solutions throughout my career, I’m excited to use my experience to help ColoAlert take a prominent role in the global fight against colorectal cancer.”

About ColoAlert
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 immunochemistry test (FIT) and is designed to detect tumor 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 European 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.
*Dollinger MM et al. (2018)

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 estimates that in 2021 there will be 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 an 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

For media enquiries, please contact press@mainzbiomed.com 

For investor enquiries, please contact ir@mainzbiomed.com 

Forward-Looking Statements

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.

FAQ

Who is Dr. Rainer Metzger and what is his role at Mainz Biomed?

Dr. Rainer Metzger is a newly appointed member of Mainz Biomed's Strategic Advisory Board, bringing extensive experience in oncology diagnostics.

What impact will Dr. Metzger's appointment have on Mainz Biomed?

Dr. Metzger's appointment is expected to enhance Mainz Biomed's commercial strategies and partnerships in the oncology diagnostics field.

What is the ColoAlert test and its significance?

ColoAlert is an early detection test for colorectal cancer that offers superior accuracy compared to traditional screening methods, addressing a significant market need.

What is the market opportunity for ColoAlert in the U.S.?

The U.S. market opportunity for ColoAlert is estimated at approximately $3.7 billion annually, driven by the growing population over 50.

When does Mainz Biomed expect to gain FDA approval for ColoAlert?

Mainz Biomed aims for U.S. regulatory approval for ColoAlert in the first half of 2022.