Business
Mainz Biomed Announces First Quarter 2022 Results
BERKELEY, Calif. and MAINZ, Germany, April 12, 2022 (GLOBE NEWSWIRE) -- Mainz Biomed N.V. (NASDAQ:MYNZ) (“Mainz Biomed” or the “Company”), a molecular
About this update from Quantum Cyber N.v.
[{"type":"text","content":"BERKELEY, Calif. and MAINZ, Germany, April 12, 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 operational results for the first quarter ended March 31, 2022. Key Highlights Continued to ramp up EU commercial activities for ColoAlert, the Company’s highly efficacious, and easy-to-use detection test for colorectal cancerAcquired portfolio of novel mRNA biomarkers to potentially upgrade ColoAlert’s technical profile to achieve “gold standard” status for CRC at-home testingCommenced international clinical study (ColoFuture) to evaluate integration of these biomarkers into ColoAlertReceived supportive feedback from the U.S. Food and Drug Administration (FDA) on ColoAlert’s pre-submission package for its U.S. pivotal clinical trialFormally initiated ColoAlert’s U.S. medical reimbursement process with the Centers for Medicare Services (CMS)Executed a $25.8 million public follow-on offeringExpanded Strategic Advisory Board of global leaders in molecular diagnostic development and commercialization “This past quarter has proven to be an excellent period of progress across commercial, corporate and product development fronts,” commented Guido Baechler, Chief Executive Officer of Mainz Biomed. “The entire Mainz team is excited by the rapid growth achieved to date and remains steadfast in our conviction to advance an ambitious yet balanced strategy to maximize ColoAlert’s potential in the marketplace, and to build our oncology-focused diagnostic franchise via a unique commercial model and robust technical approach to product development.” Commercial Update: ColoAlert marketed across Europe via unique business modelDuring the quarter, Mainz continued its differentiated commercial plan of partnering with third-party laboratories for test kit processing versus the traditional methodology of operating a single facility. Under the standard terms of all partnerships, Mainz is providing ColoAlert to the respective labs, including co-branding with key accounts, whereby each facility purchases Mainz’s customized polymerase chain reaction (PCR) assay kits on an on-demand basis and provides to their respective network of physicians and patients a comprehensive solution for advanced CRC protection. During t...