Mainz Biomed Reports Increased Demand for Enhanced ColoAlert, Existing Partners to Transition to New Version

Rhea-AI Summary

Mainz Biomed N.V. (NASDAQ:MYNZ) has reported increased demand for its enhanced ColoAlert product, launched in July 2024. The improved version of this colorectal cancer (CRC) screening test is being adopted by existing partners and attracting new ones across Europe and select international markets. GANZIMMUN Diagnostics, a leading German laboratory, will fully implement the enhanced ColoAlert by early next year.

The enhanced ColoAlert features a proprietary DNA stabilizing buffer and streamlined collection devices, reducing retesting needs and offering faster results in 2-3 days. GANZIMMUN will showcase ColoAlert at the 57th Medizinische Woche Baden-Baden, a medical congress focusing on complementary medicine, from October 30 to November 3, 2024. This event will promote Mainz Biomed's DNA-based CRC screening test to medical professionals and researchers interested in advanced diagnostic solutions.

Positive

• Increased demand for enhanced ColoAlert product across Europe and select international markets
• Adoption of enhanced ColoAlert by existing partners, including GANZIMMUN Diagnostics
• Improved features reducing retesting needs and offering faster results (2-3 days)
• Showcase opportunity at the 57th Medizinische Woche Baden-Baden medical congress

Negative

• None.

Insights

Medical Research Analyst

The enhanced ColoAlert product from Mainz Biomed represents a significant advancement in colorectal cancer (CRC) screening technology. The key improvements include:

• A proprietary DNA stabilizing buffer ensuring reliable results despite varying sample volumes
• Streamlined collection devices simplifying at-home testing
• Reduced need for retesting
• Faster turnaround times, with results available in 2-3 days

These enhancements address critical pain points in CRC screening, potentially increasing adoption rates and improving early detection outcomes. The transition of existing partners like GANZIMMUN Diagnostics to this new version indicates strong market acceptance and confidence in the product's performance.

However, it's important to note that while demand is increasing, the article doesn't provide specific financial figures or sales projections. The true impact on Mainz Biomed's revenue and market share remains to be seen. Investors should monitor future earnings reports for concrete evidence of commercial success.

Market Research Analyst

The increasing demand for the enhanced ColoAlert product signals positive market reception, which could translate to revenue growth for Mainz Biomed. Key points for investors to consider:

• Existing partners transitioning to the new version suggests product satisfaction and potential for increased sales
• Expansion into complementary medicine markets, as evidenced by GANZIMMUN's participation in the Medizinische Woche Baden-Baden, could open new revenue streams
• Improved efficiency and user experience may lead to wider adoption and market share gains in the competitive CRC screening market

However, with a market cap of only $5.87 million, Mainz Biomed is still a micro-cap company, which inherently carries higher risk. The lack of specific financial projections in the announcement makes it difficult to quantify the potential impact on the company's valuation. Investors should closely monitor upcoming financial reports for evidence of revenue growth and market penetration resulting from this enhanced product launch.

GANZIMMUN Diagnostics to Feature ColoAlert at the 57th Medizinische Woche Baden-Baden

BERKELEY, Calif. and MAINZ, Germany, Oct. 08, 2024 (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 increasing demand from existing and prospective laboratory partners for its enhanced ColoAlert product that has been launched in July 2024 and is currently being commercialized across Europe and in select international markets. This advanced version of the Company’s colorectal cancer (CRC) screening test is set to become the standard offering for all existing partners, reflecting its proven benefits in optimizing screening efficiency and improving user experience.

Widespread Transition to Enhanced ColoAlert

One of the earliest partners to make the transition is GANZIMMUN Diagnostics, one of Germany’s premier laboratories, which licensed the ColoAlert test. GANZIMMUN will fully implement the enhanced version of the innovative DNA biomarker-based screening product by the beginning of next year, taking advantage of the significant improvements in sample processing and usability that have set a new industry benchmark.

Improving Customer Interest

Partners are particularly drawn to the enhanced features, such as the proprietary DNA stabilizing buffer that ensures reliable results despite varying sample volumes, and the streamlined collection devices that simplify at-home testing for users. These innovations have drastically reduced the need for retesting, offering faster turnaround times for patients, with results available in just 2–3 days from sample arrival.

Promotion at Key Medical Event

GANZIMMUN Diagnostics will showcase the enhanced ColoAlert at the 57th Medizinische Woche Baden-Baden, a medical congress in Germany focusing on complementary medicine, which takes place from October 30 to November 3, 2024. This underscores the increasing role of complementary medicine in cancer prevention and early detection. The event will provide an ideal platform to promote Mainz Biomed’s innovative DNA-based CRC screening test to medical professionals, integrative medicine practitioners, and researchers interested in advanced diagnostic solutions.
"We are excited to support GANZIMMUN in introducing the enhanced ColoAlert at such a prestigious event," stated Tarrin Khairi-Taraki, VP Commercial Operations at Mainz Biomed. "The 57th Medizinische Woche Baden-Baden provides an excellent opportunity to demonstrate the importance of early colorectal cancer detection and how our innovations are making this process more efficient."

Please visit Mainz Biomed’s official website for investors at mainzbiomed.com/investors/ for more information
Please follow us to stay up to date:
LinkedIn
X (Previously Twitter)
Facebook

About GANZIMMUN Diagnostics
GANZIMMUN Diagnostics is one of the leading laboratories in Europe for preventive and complementary medicine. A multidisciplinary team comprising more than 420 employees processes approximately 5,500 laboratory orders per day under the leadership of the experienced laboratory physician, Dr. med. Patrik Zickgraf. The comprehensive diagnostic service spectrum, which includes over 4,000 laboratory parameters, includes besides the basic analytics a huge amount of innovative tests such as the ColoAlert.

To learn more, visit https://www.ganzimmun.de/en/

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 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
MC Services AG
Anne Hennecke/Caroline Bergmann
+49 211 529252 20
mainzbiomed@mc-services.eu
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 April 9, 2024. 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 enhanced ColoAlert product by Mainz Biomed (MYNZ)?

The enhanced ColoAlert is an improved version of Mainz Biomed's colorectal cancer screening test, featuring a proprietary DNA stabilizing buffer and streamlined collection devices for more efficient at-home testing.

When was the enhanced ColoAlert launched by Mainz Biomed (MYNZ)?

The enhanced ColoAlert product was launched in July 2024 by Mainz Biomed.

Which laboratory partner is transitioning to the enhanced ColoAlert by Mainz Biomed (MYNZ)?

GANZIMMUN Diagnostics, one of Germany's premier laboratories, is transitioning to the enhanced ColoAlert and will fully implement it by the beginning of next year.

Where will GANZIMMUN showcase the enhanced ColoAlert by Mainz Biomed (MYNZ)?

GANZIMMUN Diagnostics will showcase the enhanced ColoAlert at the 57th Medizinische Woche Baden-Baden, a medical congress in Germany, from October 30 to November 3, 2024.