Mainz Biomed Launches Number of Educational Events in Germany to Raise Awareness for CRC Screening and Early Detection

Rhea-AI Summary

Mainz Biomed NV (NASDAQ:MYNZ), a molecular genetics diagnostic company, is launching several initiatives to raise awareness of colorectal cancer (CRC) detection in Germany. With around 73,000 new cases annually, CRC is a leading cause of cancer-related mortality, yet boasts a 90% survival rate when diagnosed early. The company is sponsoring the Gastro Update 2023 in Mainz and Berlin, and hosting a Patient Education Day in Mainz on March 11, 2023. Its flagship product, ColoAlert, offers non-invasive at-home CRC screening, aiming for better detection rates compared to traditional tests. Mainz Biomed is poised to expand further into the US market following FDA approval.

Positive

• Mainz Biomed is actively promoting CRC awareness, potentially increasing future customer engagement and sales.
• The company's flagship product, ColoAlert, is positioned as a superior non-invasive screening tool, enhancing early detection rates and improving patient outcomes.
• Strong potential market opportunity in the US, estimated at $3.7 billion annually, as the US population aged 50+ is projected to rise significantly.

Negative

• The company may face challenges in expanding its market presence in the US due to regulatory hurdles associated with FDA approval.
• Dependence on the success of ColoAlert's FDA clinical study introduces risks that could impact future revenue.

Sponsor of Gastro Update 2023, 2-day scientific and training events for gastroenterology professionals

Patient Education Day in the City of Mainz, Germany, where the Company is headquartered

Germany-based molecular diagnostic specialist to support local colorectal cancer communities

BERKELEY, Calif. and MAINZ, Germany, March 08, 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, launches a number of events to raise awareness for the importance of early detection of colorectal cancer (CRC) with physicians and medical professionals, but also with patients, their families, caregivers and the general public in Germany.

“With approximately 73,000 new cases diagnosed every year in Germany alone, CRC is one of the most common cancers. It is also the second most lethal form of cancer on a national basis. However, the 5-year-survival rate exceeds 90%, if identified in early stages,” said Darin Leigh, Chief Commercial Officer of Mainz Biomed. “As a company based in Mainz, Germany, supporting the efforts of patient organizations and the local cancer community during CRC Awareness Month is important to us. We have organized educational events to highlight the relevance of early diagnosis for improved treatment options and better patient outcomes. Regular screening with a user-friendly, non-invasive, at-home CRC test kit can save lives!”

Support of Gastro Update 2023 in Mainz and Berlin as Sponsor
Mainz Biomed is supporting this year’s Gastro Update, a series of two 2-day practical training events for healthcare professionals, led by renowned German gastroenterology experts, as a sponsor. The Company will be present with a booth during the entire scientific event in Mainz as well as in Berlin, Germany, and be part of the subsequent stakeholder dinner.

Gastro Update 2023
#1 Friday and Saturday, March 10-11, 2023
Rheingoldhalle; Mainz, Germany

#2 Friday and Saturday, March 24-25, 2023
Berlin Congress Center; Berlin, Germany

Patient Education Day in Mainz City Center
Mainz Biomed will host a full-day educational event for patients, their families, caregivers and advocates as well as the general public. In the city of Mainz, Germany, the Company will be present with a pavilion and several info tables conveniently located in front of the National Theater. The public will have the opportunity to direct their questions to physicians, scientists as well as experts for early CRC detection.

Patient Education Day
Saturday, March 11, 2023 (09:00 am - 4:00 pm CET)
Outdoor event – in front of the ‘Staatstheater’ in the city center, Mainz, Germany

About ColoAlert
ColoAlert, our flagship product, delivers high sensitivity and specificity in a user-friendly, at-home CRC screening kit. ColoAlert is the non-invasive colorectal cancer screening test that looks for more than blood. ColoAlert detects bleeding and non-bleeding tumors by analyzing tumor DNA, offering better early detection than fecal occult blood tests (FOBT). By analyzing tumor DNA, ColoAlert detects significantly more cases of colorectal cancer than other stool tests and allows for an earlier diagnosis. 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”), CRC is the second most lethal cancer in the United States and Europe, but also the most preventable, with early detection providing survival rates above 90%. The American Cancer Society estimated that in 2021 there were approximately 149,500 new cases of colon and rectal cancer in the US, with 52,980 resulting in death. Recent decisions by the U.S. Food and Drug Administration (FDA) suggest that screening with stool DNA tests such as ColoAlert in the United States 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 and a US market opportunity of approximately $3.7 billion per year.

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 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 initiatives is Mainz Biomed (MYNZ) launching for colorectal cancer awareness in 2023?

Mainz Biomed is sponsoring Gastro Update 2023 and hosting a Patient Education Day in Mainz, Germany, to raise awareness about early detection of colorectal cancer.

When is the Patient Education Day hosted by Mainz Biomed (MYNZ)?

The Patient Education Day is scheduled for March 11, 2023, in Mainz, Germany.

What is the market opportunity for Mainz Biomed (MYNZ) in the US?

The estimated market opportunity for colorectal cancer screening in the US is approximately $3.7 billion annually.

What is ColoAlert, the product from Mainz Biomed (MYNZ)?

ColoAlert is a non-invasive at-home screening test for colorectal cancer that detects tumor DNA, providing earlier and more accurate results than traditional tests.