Prenetics
| Company type | Public |
|---|---|
| NYSE: PRE | |
| Industry | |
| Founded | 2007  |
| Founders | Avi Lasarow |
| Headquarters | Hong Kong |
Key people | Danny Yeung (CEO) |
| Website | www |
Prenetics is a Hong Kong company that offers genetic profiling services.
One of its major investors was Alibaba founder Jack Ma.[1] It listed on the NASDAQ exchange via a Special-purpose acquisition company.[2][3]
Since listing, it has not been able to turn a profit.[4][5] In October 2023 it announced a 1 for 15 reverse stock split so it could regain the stock exchange's required US$1 per share stock price.[6]
Danny Yeung serves as CEO of Prenetics.[7]
Products[edit]
Its subsidiary CircleDNA focuses on disease prevention rather than genealogy. For example, in 2016 it launched a rapid DNA-based colon cancer screening product.[8] In 2019 it launched a line of at-home tests to be sold through retailers in Asia.[9]
Insighta[edit]
In 2023 it announced plans to partner with the Chinese University of Hong Kong and molecular biologist Dennis Lo to launch DNA testing for several major diseases and cancers.[10][11] Lo and Prenetics are working together to create a new company, Insighta, that will focus on their cancer detection work.[12] The early detection cancer test, Presight, will begin clinical trials in 2024.[12] The company claims that by 2027 patients will be able to test for more than 10 types of cancer with a single blood test.[13] Danny Yeung will serve as CEO of Insighta and Lo will serve as chairman.[12]
Covid Testing Contracts[edit]
Prenetics was aggressive in marketing Covid testing capacity. It was one of three companies, and the only one from Hong Kong, selected to provide COVID-19 testing support to the Hong Kong government.[1][14] It also had plans to participate in a Covid passporting scheme.[15]
Its UK arm provided COVID-19 testing to the Premier League to help them restart football amid the pandemic.[16][17] As part of so-called "project restart" the company hired former FIFA player Rio Ferdinand to reassure players about the safety of the plan.[18] Around the same time, the company also launched pop-up testing sites for a flexible workspace provider.[19]
References[edit]
- ^ a b "Jack Ma-backed Prenetics plots IPO after COVID-19 test success". Nikkei Asia. Retrieved 2023-11-19.
- ^ "Hong Kong biotech Prenetics tumbles after Nasdaq debut". Nikkei Asia. Retrieved 2023-11-19.
- ^ Yang, Jing (September 15, 2021). "Prenetics, a Covid-19 Testing Startup, to Go Public in SPAC Merger" – via www.wsj.com.
- ^ "Prenetics Global Limited (NASDAQ:PRE): Is Breakeven Near?". Yahoo Finance. 2023-11-11. Retrieved 2023-11-19.
- ^ "Prenetics Global Limited (NASDAQ:PRE) Held Back By Insufficient Growth Even After Shares Climb 30%". simplywall.st. 2024-01-07. Retrieved 2024-01-20.
- ^ "Prenetics Global Limited Announces Reverse Stock Split". Yahoo Finance. 2023-11-01. Retrieved 2023-11-19.
- ^ Sobti, Tara. "Prenetics' Danny Yeung and Dennis Lo launch Insighta, an early cancer detection testing company". Tatler Asia. Retrieved 2024-02-02.
- ^ "iGene: Hong Kong biotech start-up Prenetics bringing 48-hour DNA tests to broader Chinese market for safer prescriptions". South China Morning Post. 2016-04-04. Retrieved 2024-01-20.
- ^ Shu, Catherine (2019-07-29). "Prenetics partners with Watsons, one of Asia's largest personal care retailers, to sell its new consumer DNA tests". TechCrunch. Retrieved 2023-11-19.
- ^ "Exclusive: Hong Kong's DNA pioneers launch blood tests to find cancer". South China Morning Post. 2023-06-26. Retrieved 2023-11-19.
- ^ "Covid-Testing Unicorn Is Plotting Bets for Post-Virus World". Bloomberg.com. 2022-05-18. Retrieved 2023-11-19.
- ^ a b c Branca, Malorye (2023-06-29). "Dennis Lo and Prenetics Form Early Cancer Detection Firm Insighta". Inside Precision Medicine. Retrieved 2024-02-02.
- ^ "一次早篩多種癌症 費用千多元 盧煜明伙Prenetics創合資企業 目標後年推出檢測 - 20230627 - 要聞". 明報新聞網 - 每日明報 daily news (in Traditional Chinese). Retrieved 2024-01-20.
- ^ "香港本地爆發迫近 政府考慮應否全民檢測新冠病毒". BBC News 中文 (in Traditional Chinese). 2020-07-15. Retrieved 2023-11-19.
- ^ "Covid-Testing Unicorn Is Plotting Bets for Post-Virus World". May 18, 2022 – via www.bloomberg.com.
- ^ Carp, Sam (2020-05-11). "Premier League taps Prenetics for coronavirus testing in 'UK£4m' deal". SportsPro. Retrieved 2023-11-19.
- ^ Brown, David (2024-01-20). "Lab boss is suspect in police drug test inquiry". ISSN 0140-0460. Retrieved 2024-01-20.
- ^ Cunningham, Sam (2020-05-18). "Exclusive: Ferdinand to convince players on Covid-19 test safety". inews.co.uk. Retrieved 2023-11-19.
- ^ Partridge, Joanna (2021-03-21). "Is this the future of office work – the pop-up car park Covid test pod?". The Guardian. ISSN 0261-3077. Retrieved 2024-01-20.
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