Mainz Biomed Provides U.S. Regulatory Review Update for ColoAlert

Rhea-AI Summary

Mainz Biomed N.V. (NASDAQ:MYNZ) announced that the U.S. FDA has accepted their pre-submission for ColoAlert, a test for early colorectal cancer detection, for review. The feedback expected in Q2 2022 will inform the clinical trial design, which is set to start in 2023. The acceptance is part of Mainz's strategy following their ColoFuture study, which aims to enhance ColoAlert's diagnostic capabilities. Currently marketed in Europe, ColoAlert's anticipated U.S. approval could tap into a market worth $3.7 billion annually.

Positive

• FDA acceptance of ColoAlert pre-submission may expedite U.S. market entry.
• ColoFuture study could enhance ColoAlert's diagnostic efficacy.
• Potential U.S. market opportunity estimated at $3.7 billion per year.

Negative

• FDA feedback is uncertain and could impact trial design.
• ColoAlert's U.S. approval timeline is contingent on ColoFuture study results.

Pivotal Clinical Trial Pre-Submission Accepted for Review by the U.S. Food & Drug Administration

BERKELEY, Calif. and MAINZ, Germany, Feb. 23, 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 that its pre-submission filed with the U.S. Food & Drug Administration (FDA) for ColoAlert has been accepted for review. By accepting the pre-submission for review, the FDA will provide feedback to the Company on its proposed pivotal U.S. clinical trial design for ColoAlert, its highly efficacious, and easy-to-use detection test for colorectal cancer (CRC). The FDA feedback is expected in calendar Q2 2022, and will offer Mainz the opportunity to gain preliminary insight and guidance on the potential technical parameters and endpoints of the study, which is on track to commence in 2023.

“We believe it’s important to keep our shareholders current on the company’s clinical and corporate development progress and as such, are pleased to provide this update on ColoAlert’s status with respect to the product’s regulatory pathway and potential timing for U.S. approval,” commented Guido Baechler, Chief Executive Officer of Mainz Biomed. “The pre-submission forum offered by the FDA is a fantastic opportunity to gain valuable input that will enable us to submit the optimal set of trial protocols to best position ColoAlert for success in the clinic and ultimately, the marketplace.”

A key component of Mainz’s U.S. regulatory strategy for ColoAlert is based on the outcome of the Company’s recently announced (February 4, 2022) launch of ColoFuture, an international clinical study evaluating the potential to integrate a portfolio of in-licensed novel mRNA biomarkers into the product. The rationale behind acquiring the rights to these five biomarkers from the Université de Sherbrooke in December of 2021, was based on their documented, unique ability to identify curable precancerous colonic polyps, as well as treatable early-stage CRC (Herring et al 2021). ColoFuture is evaluating the effectiveness of these biomarkers to enhance ColoAlert’s technical profile to extend its capability to include the identification of advanced adenomas (AA), a type of pre-cancerous polyp often attributed to CRC, while increasing ColoAlert’s rates of diagnostic sensitivity and specificity. So, if the study results from ColoFuture prove positive, it will solidify ColoAlert as the gold standard at-home diagnostic tool for CRC currently being marketed across Europe and enable Mainz to incorporate these biomarkers into ColoAlert prior to commencing its U.S. pivotal study for the product.

Mainz is currently marketing ColoAlert through its unique business model of partnering with third-party laboratories for test kit processing versus the traditional methodology of operating a single facility.

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 the ColoFuture Study
The ColoFuture study is an international clinical trial evaluating over 600 patients (women or men) in the age range of 40-85 at two participating centers in Norway and two in Germany. Subjects are invited to potentially participate in the trial when referred for a colonoscopy (pre-inclusion) to screen for CRC or an overall diagnostic analysis. Those who agree to provide a stool sample in advance of the procedure will be eligible for participation. Inclusion criteria are based on one of the following diagnostic outcomes: CRC, advanced precancerous lesions in colon, or normal colon. Then, each patient outcome will compare the observations recorded from the colonoscopy to the results from the ColoAlert test that incorporates the novel biomarkers. The primary endpoints of the study are to determine sensitivity and specificity rates for CRC with ColoAlert plus the new mRNA biomarkers. There are multiple secondary endpoints for evaluating the modified ColoAlert test, including, determining sensitivity for AA lesions in colon, specificity for advanced precancerous lesions in colon and, specificity for no colorectal finding (normal colon). The Company is expecting to complete enrollment during the second half of 2022 and is targeting reporting study results in early 2023.

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 registration statement on Form F-1 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

What is the significance of the FDA's acceptance of Mainz Biomed's pre-submission for ColoAlert?

The FDA's acceptance allows Mainz Biomed to receive feedback on their pivotal trial design for ColoAlert, aiding future regulatory submissions.

What are the expected outcomes of the ColoFuture study?

The ColoFuture study aims to enhance ColoAlert's ability to identify advanced adenomas and improve its diagnostic sensitivity and specificity.

When is Mainz Biomed's pivotal clinical trial for ColoAlert expected to begin?

The pivotal clinical trial for ColoAlert is on track to commence in 2023, pending favorable feedback from the FDA.

What market opportunity does ColoAlert represent in the U.S.?

ColoAlert represents a potential market opportunity of approximately $3.7 billion annually in the U.S., targeting the 50+ population.

How does ColoAlert compare to traditional colonoscopy?

ColoAlert offers a non-invasive alternative with high sensitivity and specificity for early colorectal cancer detection, nearly matching colonoscopy.