Mainz Biomed Launches Corporate Health Program in Germany for ColoAlert
January 18 2023 - 03:01AM
Mainz Biomed NV (NASDAQ:MYNZ) (“Mainz Biomed” or the “Company”), a
molecular genetics diagnostic company specializing in the early
detection of cancer, announced today the launch of a corporate
health program in Germany for ColoAlert, its highly efficacious and
easy-to-use screening test for colorectal cancer (CRC) being
commercialized across Europe and in select international
territories. As a start, ColoAlert has been integrated into BGM
(“betriebliches Gesundheitsmanagement”), a corporate health network
providing services to employees at forty-eight of the fifty largest
companies in Germany1.
“The corporate health market is a fundamental component of our
commercial strategy, and it’s a pleasure to commence this
initiative with leading German based companies who are committed to
the health and well-being of their employees,“ commented Guido
Baechler, Chief Executive Officer of Mainz Biomed. “Providing
access to ColoAlert is an important option for employees given CRC
is the second most lethal cancer in Europe and is most treatable
with early detection.”
Through corporate health management programs such as the BGM
network, best-in-class companies offer employees healthcare
services ranging from gym memberships to diabetes management to
counseling, all to better their health. This investment improves
employee satisfaction and performance, which in turn contributes to
the organization’s long-term success.
Mainz Biomed’s integration into the BGM network includes the
launch of an online portal through which employees can register to
be sent the ColoAlert test. Once the sample is received and
processed, confidential test results are sent back to the employee
through the portal, along with an explanation of the results. If an
employee has approved for their physician to also be notified, then
the doctor can follow up with the patient accordingly. Mainz Biomed
provides education for both the employee and physician regarding
the ColoAlert results and CRC, as well as recommendations for next
steps.
About ColoAlertColoAlert detects colorectal
cancer (CRC) via a simple-to-administer test with a sensitivity and
specificity nearly as high as the invasive colonoscopy (Dollinger
MM et al., 2018). The test utilizes proprietary methods to analyze
cell DNA for specific tumor markers combined with the fecal
immunochemical test (FIT). It is designed to detect tumor DNA and
CRC cases in their earliest stages. The product is CE-IVDR marked
(complying with EU safety, health and environmental requirements)
and commercially available in a selection of countries in the
European Union and the United Arab Emirates. Mainz Biomed currently
distributes ColoAlert through a number of clinical affiliates. Once
approved in the US, the Company’s commercial strategy is to
establish scalable distribution through a collaborative partner
program with regional and national laboratory service providers
across the country.
About Colorectal CancerAccording to the Centers
for Disease Control and Prevention (CDC), colorectal cancer (CRC)
is the second most lethal cancer in the U.S. and Europe, but also
the most preventable, with early detection providing survival rates
above 90%. Annual testing costs per patient are minimal, especially
when compared to late-stage treatments of CRC, which cost patients
an average of $38,469 per year. The American Cancer Society
estimated that in 2021 there were approximately 149,500 new cases
of colon and rectal cancer in the US, with 52,980 resulting in
death. Recent decisions by the US Food and Drug Administration
(FDA) suggest that screening with stool DNA tests such as ColoAlert
in the US should be conducted once every three years starting at
age 45. Currently, there are 112 million Americans aged 50+, a
total that is expected to increase to 157 million within 10 years
and a US market opportunity of approximately $3.7 billion per
year.
About Mainz Biomed NVMainz 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
currently 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, please
contact press@mainzbiomed.com In
Europe:
MC Services AGAnne Hennecke/Caroline Bergmann+49 211 529252
20mainzbiomed@mc-services.eu
In the US:
Spectrum ScienceMelissa Laverty/Valerie Enes+1 540 272
6465mainz@spectrumscience.com
For investor inquiries, please
contact info@mainzbiomed.com
Forward-Looking StatementsCertain 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 May
5, 2022. 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.
1 Germany’s Top 50 Companies from the website of DDW:
https://die-deutsche-wirtschaft.de/liste-der-groessten-arbeitgeber-deutschland ;
Last accessed on January 16, 2023. This list has then be
cross-referenced with public information on which of the companies
provide BGM benefits to their employees.
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