Prenetics Announces Tencent’s US$30 Million Investment in Insighta, Strengthening Strategic Partnership for AI-Driven Early Cancer Detection
Prenetics Global (NASDAQ: PRE) announced a strategic US$30 million investment by Tencent in Insighta, valuing the early cancer detection company at US$200 million. This investment reduces Prenetics' stake in Insighta from 50% to 35%, while Insighta's co-founders retain their 50% shareholding. Prenetics receives US$30 million in cash from the sale of secondary shares to Tencent, boosting its pro forma cash and short-term assets to over US$90 million.
Insighta's early cancer detection platform uses proprietary FRAGMA technology, which detects DNA methylation aberrations in cell-free DNA. The company has begun clinical trials in Mainland China for liver cancer detection and plans to expand to lung cancer. With US$80 million in cash reserves, Insighta is well-funded to advance its clinical trials and commercialization efforts.
Prenetics Global (NASDAQ: PRE) ha annunciato un investimento strategico di 30 milioni di dollari USA da parte di Tencent in Insighta, valutando la società di rilevamento precoce del cancro a 200 milioni di dollari USA. Questo investimento riduce la quota di Prenetics in Insighta dal 50% al 35%, mentre i co-fondatori di Insighta mantengono il loro 50% di partecipazione. Prenetics riceve 30 milioni di dollari USA in contante dalla vendita di azioni secondarie a Tencent, aumentando il proprio capitale e le proprie attività a breve termine a oltre 90 milioni di dollari USA.
La piattaforma di rilevamento precoce del cancro di Insighta utilizza la tecnologia proprietaria FRAGMA, che rileva le anomalie di metilazione del DNA nel DNA libero. L'azienda ha avviato prove cliniche nella Cina continentale per la rilevazione del cancro al fegato e prevede di espandersi al cancro ai polmoni. Con 80 milioni di dollari USA in riserve di contante, Insighta è ben finanziata per portare avanti i suoi studi clinici e gli sforzi di commercializzazione.
Prenetics Global (NASDAQ: PRE) anunció una inversión estratégica de 30 millones de dólares estadounidenses por parte de Tencent en Insighta, valorando a la compañía de detección temprana de cáncer en 200 millones de dólares estadounidenses. Esta inversión reduce la participación de Prenetics en Insighta del 50% al 35%, mientras que los cofundadores de Insighta mantienen su participación del 50%. Prenetics recibe 30 millones de dólares estadounidenses en efectivo de la venta de acciones secundarias a Tencent, aumentando sus activos en efectivo y a corto plazo a más de 90 millones de dólares estadounidenses.
La plataforma de detección temprana de cáncer de Insighta utiliza la tecnología propietaria FRAGMA, que detecta aberraciones de metilación de ADN en ADN libre. La compañía ha comenzado ensayos clínicos en China continental para la detección de cáncer de hígado y planea expandirse al cáncer de pulmón. Con 80 millones de dólares estadounidenses en reservas de efectivo, Insighta está bien financiada para avanzar en sus ensayos clínicos y esfuerzos de comercialización.
프레네틱스 글로벌(NASDAQ: PRE)은 텐센트가 인사이트에 대해 3천만 달러의 전략적 투자를 발표하며, 조기 암 검출 회사의 가치를 2억 달러로 평가했습니다. 이 투자는 프레네틱스의 인사이트 지분을 50%에서 35%로 줄이며, 인사이트의 공동 창립자는 50%의 지분을 유지합니다. 프레네틱스는 텐센트에 대한 2차 주식 판매로부터 3천만 달러 현금을 받으며, 이는 프레네틱스의 프로포르마 현금 및 단기 자산을 9천만 달러 이상으로 증가시킵니다.
인사이트의 조기 암 검출 플랫폼은 세포외 DNA에서 DNA 메틸화 이상을 감지하는 독자적인 FRAGMA 기술을 사용합니다. 이 회사는 간암 검출을 위해 중국 본토에서 임상 시험을 시작했으며, 폐암으로의 확장을 계획하고 있습니다. 8천만 달러의 현금 보유를 가진 인사이트는 임상 시험과 상용화 노력을 진행할 수 있는 충분한 자금을 확보하고 있습니다.
Prenetics Global (NASDAQ : PRE) a annoncé un investissement stratégique de 30 millions de dollars US de Tencent dans Insighta, valorisant la société de détection précoce du cancer à 200 millions de dollars US. Cet investissement réduit la part de Prenetics dans Insighta de 50 % à 35 %, tandis que les cofondateurs d'Insighta conservent leur part de 50 %. Prenetics reçoit 30 millions de dollars US en espèces de la vente d'actions secondaires à Tencent, portant ses liquidités et actifs à court terme à plus de 90 millions de dollars US.
La plateforme de détection précoce du cancer d'Insighta utilise la technologie propriétaire FRAGMA, qui détecte les anomalies de méthylation de l'ADN dans l'ADN libre. L'entreprise a commencé des essais cliniques en Chine continentale pour la détection du cancer du foie et prévoit d'élargir son champ d'action au cancer des poumons. Avec 80 millions de dollars US en réserves de liquidités, Insighta est bien financée pour faire avancer ses essais cliniques et ses efforts de commercialisation.
Prenetics Global (NASDAQ: PRE) gab bekannt, dass Tencent eine strategische Investition in Höhe von 30 Millionen US-Dollar in Insighta tätigt, was das Unternehmen zur frühzeitigen Krebsdiagnose mit 200 Millionen US-Dollar bewertet. Diese Investition reduziert den Anteil von Prenetics an Insighta von 50 % auf 35 %, während die Mitbegründer von Insighta ihren 50 % Anteil behalten. Prenetics erhält 30 Millionen US-Dollar in bar aus dem Verkauf von sekundären Aktien an Tencent, was die liquiden Mittel und kurzfristigen Vermögenswerte von Prenetics auf über 90 Millionen US-Dollar erhöht.
Die Plattform zur frühzeitigen Krebsdiagnose von Insighta nutzt die proprietäre FRAGMA-Technologie, die DNA-Methylierungsanomalien in zellfreier DNA erkennt. Das Unternehmen hat klinische Studien in Festlandchina zur Erkennung von Leberkrebs begonnen und plant, auf Lungenkrebs auszuweiten. Mit 80 Millionen US-Dollar an Barreserven ist Insighta gut finanziert, um seine klinischen Studien und Vermarktungsaktivitäten voranzutreiben.
- Tencent's US$30 million investment values Insighta at US$200 million, indicating strong market potential
- Prenetics receives US$30 million in cash, boosting its pro forma cash and short-term assets to over US$90 million
- Insighta has US$80 million in cash reserves to fund clinical trials and commercialization efforts
- Tencent's AI expertise and healthcare resources expected to accelerate Insighta's technological advancements
- Clinical trials for liver cancer detection have commenced in Mainland China, with plans to expand to lung cancer
- Prenetics' stake in Insighta reduced from 50% to 35%, potentially decreasing future returns from Insighta's success
Insights
This strategic investment by Tencent into Insighta is a significant development for Prenetics. Here are the key financial implications:
- Prenetics receives
$30 million in cash from selling secondary shares to Tencent, boosting its pro forma cash and short-term assets to over$90 million . - Prenetics' stake in Insighta decreases from
50% to35% , but the valuation increase offsets this dilution. - Insighta is now valued at
$200 million , a substantial increase that positively impacts Prenetics' investment value. - With
$80 million in cash reserves, Insighta is well-funded to advance its clinical trials and commercialization efforts.
This deal strengthens Prenetics' financial position while potentially accelerating Insighta's growth, which could lead to significant returns for Prenetics in the future. The partnership with Tencent also adds strategic value, potentially enhancing Insighta's market position and technological capabilities.
Insighta's FRAGMA technology represents a potentially groundbreaking approach to early cancer detection. The key aspects are:
- It detects DNA methylation aberrations in cell-free DNA from bodily fluids, enabling non-invasive cancer screening.
- The focus on epigenetics allows for cost-effective and potentially highly accurate multi-cancer detection.
- Clinical trials have begun for liver cancer in China, with plans to expand to lung cancer and other types.
Tencent's investment and AI expertise could significantly accelerate Insighta's R&D and improve the technology's accuracy and accessibility. If successful, this could revolutionize cancer screening, leading to earlier detection and improved patient outcomes. However, it's important to note that clinical trial results and regulatory approvals will be critical milestones to watch for in assessing the technology's true potential and market viability.
HONG KONG, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Prenetics Global Limited (NASDAQ: PRE), a leading health sciences company, today announced that Tencent has made a strategic US
Following the transaction, Prenetics’ stake in Insighta will be reduced from
Insighta’s early cancer detection platform is powered by its proprietary FRAGMA technology, a cutting-edge system designed to detect DNA methylation aberrations in cell-free DNA (cfDNA) in bodily fluids such as blood. By identifying specific fragment patterns associated with cancer cells, FRAGMA enables non-invasive, highly accurate early epigenetics-based detection of multiple cancers. Epigenetics is the study of biochemical modifications of the genome without changes in DNA sequences. This ingenious approach in detecting fragmented DNA signatures allows the cost-effective detection of cancer, making FRAGMA a crucial innovation in cancer detection.
Insighta has commenced clinical trials in Mainland China, focusing initially on liver cancer, and will soon expand to include lung cancer detection. Insighta is also actively developing tests for additional cancer types, and plans on updating as appropriate.
With US
“We are excited to welcome Tencent as a strategic investor,” said Professor Allen Chan, co-founder of Insighta. “Their expertise in AI, combined with our proprietary FRAGMA technology, positions us to make significant strides in improving early cancer diagnosis, which can greatly enhance patient outcomes worldwide.”
Tencent’s robust AI resources and healthcare expertise are expected to propel Insighta’s technological advancements even further. This is conducive to facilitating the widespread application of FRAGMA technology in early screening for multiple types of cancer, thereby improving prevention strategies for cancer.
“Tencent sees tremendous potential in Insighta’s FRAGMA-powered approach to early cancer detection,” said Alexander Ng, President of Tencent Healthcare. “We look forward to deepening our partnership with Insighta through various dimensions, including technical collaboration and financial investment. In the future, leveraging Tencent’s leading AI technology and service platform, we will strive to improve the accuracy of early cancer detection using FRAGMA technology, reduce service costs, and further enhance accessibility. Together, we believe we can make significant progress in improving the accuracy of early cancer diagnosis and ultimately save lives.”
Danny Yeung, CEO of Prenetics, commented on the transaction: “This investment marks another significant step for Insighta as it continues its mission to transform cancer detection. With Tencent now on board, Insighta is well-positioned to accelerate clinical development and commercialization efforts. Prenetics remains committed to Insighta’s long-term success and will continue to support its groundbreaking work.”
ABOUT PRENETICS
Prenetics (NASDAQ:PRE), a leading health sciences company, is dedicated to advancing consumer and clinical health. Our consumer initiative is led by IM8, a new health and wellness brand and Europa, the largest sports distribution company in the USA. Our clinical division is led by Insighta, our
To learn more about Prenetics, please visit prenetics.com.
ABOUT TENCENT
Tencent uses technology to enrich the lives of Internet users. Its communication and social services, Weixin and QQ, connect users with each other and with digital content and services, both online and offline, making their lives more convenient. Its targeted advertising service helps advertisers reach out to hundreds of millions of consumers in China. Its FinTech and business services support our partners’ business growth and assist their digital upgrade. Tencent invests heavily in talent and technological innovation, actively promoting the development of the Internet industry. Tencent was founded in Shenzhen, China, in 1998. Tencent has been listed on the Main Board of the Stock Exchange of Hong Kong since 2004.
Investor Relations Contact:
Shannon Devine
MZ North America
shannon.devine@mzgroup.us
(203) 741-8811
Angela Cheung
Investor Relations / Corporate Finance
Prenetics Global Limited
angela.hm.cheung@prenetics.com
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- Represents current assets, including cash and cash equivalents, financial assets at fair value through profit or loss, and trade receivables, amongst other accounting line items under current assets based on unaudited management account prior to the closing of the transaction.
FAQ
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