COMPANY:

Prenetics

"Prenetics Global Limited...today announced that ACT Genomics, a company which Prenetics recently acquired a majority stake in, has received clearance from the U.S. Food and Drug Administration (FDA) for ACTOnco, the company’s comprehensive genomic profiling test for solid tumors. ACTOnco is intended for use by healthcare professionals to help them inform clinical management decisions in accordance with professional guidelines for cancer patients with solid tumors. This is the first and only Asia-based company to receive FDA clearance for a comprehensive genomic profiling test."

"Prenetics Global Limited...announced that it is acquiring a majority stake in ACT Genomics Holdings Company Limited ('ACT'), an Asia based genomics company specializing in precision oncology with operations in Hong Kong, Taiwan, Japan, Singapore, Thailand and in the UK....Under the terms of the transaction agreement, Prenetics has agreed to issue 19.9 million shares of Prenetics’ class A ordinary shares and pay $20 million in cash for a majority stake in ACT. Prenetics expects ACT to contribute approximately US$25-30 million in revenues in 2023."

"New Horizon Health and Prenetics said...that they are partnering to launch their ColoClear noninvasive colorectal cancer test in Hong Kong, Macau, and Taiwan...ColoClear, which was developed by New Horizon and was recently cleared by China's National Medical Products Administration (NMPA), is a stool-based DNA test specifically designed to detect colon cancer in individuals of Asian descent...The companies said...that ColoClear will now launch in Hong Kong next month, followed by Macau and Taiwan. The partnership includes an option to expand into Southeast Asia."