Business
Mainz Biomed Announces Collaboration with Fugene Genetics in Israel
Israel has one of the highest screening compliance rates in the world with over one million people being screened each year BERKELEY, Calif. and MAINZ,
About this update from Quantum Cyber N.v.
[{"type":"text","content":"Israel has one of the highest screening compliance rates in the world with over one million people being screened each year\nBERKELEY, Calif. and MAINZ, Germany, July 18, 2023 (GLOBE NEWSWIRE) -- Mainz Biomed NV (NASDAQ:MYNZ) (“MainzBiomed” or the “Company”), a molecular genetics diagnostic company specializing in the early detection of cancer, announces today its commercial partnership for ColoAlert with Fugene Genetics, a renowned genetic testing service provider based in Israel. Fugene Genetics, established in 2008, offers a wide range of advanced genetic testing services to private clients, health organizations, hospitals, and genetic institutes throughout the country. ColoAlert is Mainz Biomed’s flagship product, an effective and user-friendly at-home detection test for colorectal cancer (CRC). The test is currently being rolled out in Europe and selected international markets through a unique business model of partnering with third-party laboratories and experienced distribution partners for test kit processing, as opposed to operating a single facility, which is the traditional approach. “We continue to make great strides in growing the market access to ColoAlert around the globe, aligning with experienced partners that have significant expertise in their national markets and are able to meet the strong clinical need for differentiated products,” said Darin Leigh, Chief Commercial Officer for Mainz Biomed. “Fugene Genetics has a highly successful track record of introducing novel molecular diagnostic products into Israel using its extensive commercial network and relationships with leading laboratories.” Israel has one of the highest screening compliance rates in the world with over one million people being screened each year. It is expected that over 3.5 million adults could benefit from the availability of ColoAlert in Israel. Mainz Biomed will provide ColoAlert to Fugene Genetics under their standard partnership agreements. In the coming weeks, the two companies will collaborate on co-marketing activities to ensure a successful commercial launch in Israel. “We are thrilled to collaborate with Mainz Biomed on the commercial partnership for ColoAlert, an innovative early screening test for colon cancer,” said Noa Rinzler Diwan, PhD, CEO of Fugene Genetics.“ColoAlert's effectiveness and user-friendly nature make it a valu...