Mainz Biomed Launches Corporate Health Program in Germany for ColoAlert
Mainz Biomed (NASDAQ: MYNZ) has announced a new corporate health program in Germany for its colorectal cancer screening test, ColoAlert. This initiative aims to tap into the €1 billion annual market by integrating ColoAlert into BGM, a health network servicing 48 of Germany's largest companies. The program provides employees with easy access to colorectal cancer testing, addressing a critical health need as CRC is a leading cause of cancer-related deaths in Europe. The company's strategy includes launching an online portal for test registration and results communication, enhancing early detection and employee well-being.
- Launch of a corporate health program for ColoAlert in Germany targets a €1 billion market.
- Integration into the BGM network connects with 48 major companies, enhancing market reach.
- ColoAlert offers a user-friendly, effective screening method for colorectal cancer.
- None.
Patient Access Initiative Addresses
BERKELEY, US and MAINZ, Germany, Jan. 18, 2023 (GLOBE NEWSWIRE) -- Mainz Biomed NV (NASDAQ:MYNZ) (“Mainz Biomed” or the “Company”), a molecular genetics diagnostic company specializing in the early detection of cancer, announced today the launch of a corporate health program in Germany for ColoAlert, its highly efficacious and easy-to-use screening test for colorectal cancer (CRC) being commercialized across Europe and in select international territories. As a start, ColoAlert has been integrated into BGM (“betriebliches Gesundheitsmanagement”), a corporate health network providing services to employees at forty-eight of the fifty largest companies in Germany1.
“The corporate health market is a fundamental component of our commercial strategy, and it’s a pleasure to commence this initiative with leading German based companies who are committed to the health and well-being of their employees,“ commented Guido Baechler, Chief Executive Officer of Mainz Biomed. “Providing access to ColoAlert is an important option for employees given CRC is the second most lethal cancer in Europe and is most treatable with early detection.”
Through corporate health management programs such as the BGM network, best-in-class companies offer employees healthcare services ranging from gym memberships to diabetes management to counseling, all to better their health. This investment improves employee satisfaction and performance, which in turn contributes to the organization’s long-term success.
Mainz Biomed’s integration into the BGM network includes the launch of an online portal through which employees can register to be sent the ColoAlert test. Once the sample is received and processed, confidential test results are sent back to the employee through the portal, along with an explanation of the results. If an employee has approved for their physician to also be notified, then the doctor can follow up with the patient accordingly. Mainz Biomed provides education for both the employee and physician regarding the ColoAlert results and CRC, as well as recommendations for next steps.
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 (Dollinger MM et al., 2018). The test utilizes proprietary methods to analyze cell DNA for specific tumor markers combined with the fecal immunochemical test (FIT). It is designed to detect tumor DNA and CRC cases in their earliest stages. The product is CE-IVDR marked (complying with EU safety, health and environmental requirements) and commercially available in a selection of countries in the European Union and the United Arab Emirates. Mainz Biomed currently distributes ColoAlert through a number of clinical affiliates. 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 Cancer
According to the Centers for Disease Control and Prevention (CDC), 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
About Mainz Biomed NV
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 and the United Arab Emirates. The Company is currently 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 based on real-time Polymerase Chain Reaction-based (PCR) multiplex detection of molecular-genetic biomarkers in stool samples. 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 AG
Anne Hennecke/Caroline Bergmann
+49 211 529252 20
mainzbiomed@mc-services.eu
In the US:
Spectrum Science
Melissa Laverty/Valerie Enes
+1 540 272 6465
mainz@spectrumscience.com
For investor inquiries, please contact info@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 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 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.
1 Germany’s Top 50 Companies from the website of DDW: https://die-deutsche-wirtschaft.de/liste-der-groessten-arbeitgeber-deutschland ; Last accessed on January 16, 2023. This list has then be cross-referenced with public information on which of the companies provide BGM benefits to their employees.
FAQ
What is Mainz Biomed's new initiative as of January 2023?
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