Mainz Biomed Expands ColoAlert Commercialization with GANZIMMUN Diagnostics in Europe

Rhea-AI Summary

Mainz Biomed N.V. (NASDAQ:MYNZ) has partnered with GANZIMMUN Diagnostics to co-brand its colorectal cancer detection test, ColoAlert, in Germany. GD is one of Europe's leading labs, processing around 5,500 orders daily with an expert team of over 370 professionals. GD will purchase customized PCR assay kits from Mainz to enhance colorectal cancer prevention efforts in major cities like Mainz, Wiesbaden, and Frankfurt. This collaboration aims to establish efficient commercial partnerships to improve test accessibility and reliability, positioning ColoAlert as a critical diagnostic tool in early cancer detection.

Positive

• Partnership with GANZIMMUN Diagnostics enhances market reach for ColoAlert.
• ColoAlert has high sensitivity and specificity, comparable to invasive procedures.
• Expansion into Germany increases revenue potential in a large market for colorectal cancer screening.

Negative

• Dependence on GANZIMMUN for distribution may pose risks if partnership falters.

• Mainz to co-brand ColoAlert with GANZIMMUN Diagnostics, one of the largest stool analysis labs in Germany
  
  
• GANZIMMUN Diagnostics has an interdisciplinary team of over 370 medical technical assistants, physicians, chemists, biologists, and nutritionists who process approximately 5,500 laboratory orders daily
  
  

BERKELEY, Calif. and MAINZ, Germany, Dec. 14, 2021 (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 a partnership with leading diagnostics laboratory GANZIMMUN Diagnostics AG (GD), one of Europe's leading laboratories for preventive and complementary medicine, for the commercialization in Germany of ColoAlert, Mainz’s unique, highly efficacious, and easy-to-use detection test for colorectal cancer.

Under the terms of the arrangement, Mainz will co-brand ColoAlert with GD, one of the largest stool analysis labs in Germany. GD will purchase Mainz’s customized polymerase chain reaction (PCR) assay kits to deliver its large network of physicians and their patients a comprehensive solution for advanced colorectal cancer prevention. These kits will be provided to GD on an on-demand basis and further expand coverage especially in Mainz, Wiesbaden and Frankfurt.

“This is an important milestone for the company as we embark on executing a differentiated business model for ColoAlert from other at-home testing providers,” commented Guido Baechler, Chief Executive Officer of Mainz Biomed. “As we launch ColoAlert across Europe, we are steadfast in executing our strategy to establish commercial partnerships with leading third-party laboratories to provide customers with the most efficient and reliable test results. I’m particularly pleased to have GANZIMMUN serve as one of our inaugural partners given its well-documented role serving as a premier laboratory.”

GD has an interdisciplinary team of over 370 medical technical assistants, physicians, chemists, biologists, and nutritionists who process approximately 5,500 laboratory orders daily. The Company, which was founded in 1998, is based in Mainz, Rhineland-Palatinate, Germany and offers a state-of-the art facility with certified medical training available online and on-site.

“On behalf of the entire GANZIMMUN team, I’m excited by the addition of ColoAlert to our suite of products,” commented Dr. Patrik Zickgraf, Chief Executive Officer of GD. “We pride ourselves on offering and representing cutting-edge diagnostic technologies, and view ColoAlert as a unique solution to implement next generation PCR-based testing for colorectal cancer, a deadly disease where early detection dramatically increases the chance of survival.”

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 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.

*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 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. 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

What is the partnership between Mainz Biomed and GANZIMMUN Diagnostics?

The partnership involves co-branding ColoAlert for colorectal cancer detection in Germany, enhancing its market presence.

What is ColoAlert and how does it work?

ColoAlert is a colorectal cancer detection test that analyzes cell DNA for tumor markers and has a sensitivity nearly equal to colonoscopy.

What are the benefits of using ColoAlert?

ColoAlert provides a non-invasive, easy-to-use option for early colorectal cancer detection, significantly increasing survival rates.

How will the partnership impact Mainz Biomed's stock MYNZ?

The partnership is expected to enhance revenue opportunities for Mainz Biomed, potentially positively impacting stock performance.

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

The market opportunity in the U.S. for colorectal cancer screening using stool DNA tests is estimated at approximately $3.7 billion per year.