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BERKELEY, Calif. - Mainz Biomed N.V. (NASDAQ:MYNZ), a molecular genetics diagnostic company with a market capitalization of $16.47 million, has entered into an exclusive licensing agreement with Liquid Biosciences to develop a blood test for the detection of pancreatic cancer. The test utilizes a portfolio of mRNA biomarkers and a machine learning AI-based algorithm from Liquid’s EMERGE platform. According to InvestingPro data, the company has shown 16.23% revenue growth in the last twelve months, despite challenging market conditions.
Under the agreement, Mainz Biomed has the right to develop and potentially acquire exclusive global rights to the biomarkers, which have shown a 95% sensitivity and 98% specificity in detecting pancreatic cancer in blood samples. Financial terms include a license fee and royalties on future revenues. InvestingPro analysis reveals the company’s current ratio of 0.24 indicates potential liquidity challenges, with short-term obligations exceeding liquid assets. Subscribers to InvestingPro can access 8 additional key financial metrics and insights about the company’s financial health.
The discovery process involved multiple independent study cohorts, including a blood-based cohort of 285 subjects with 35 pancreatic cancer patients. Two additional independent cohorts confirmed the biomarkers’ strong clinical contribution.
Mainz Biomed’s CEO, Guido Baechler, stated that securing the rights to these biomarkers is a significant step forward for the company’s PancAlert program, aiming to improve early detection and diagnosis of pancreatic cancer.
The companies plan to jointly develop the screening test, enhancing commercial assays, refining algorithms, and preparing for potential FDA application and approval.
Mainz Biomed specializes in early cancer detection, with ColoAlert®, a non-invasive diagnostic test for colorectal cancer, already marketed in Europe. The company is also working on regulatory approval in the United States.
This press release contains forward-looking statements subject to risks and uncertainties, and actual results may differ materially. The information herein is based on a press release statement.
In other recent news, Mainz Biomed NV has announced its return to compliance with Nasdaq’s stockholders’ equity requirement, ensuring its continued listing on the Nasdaq Capital Market. The company had previously met Nasdaq’s minimum bid price requirement, and with these developments, Mainz Biomed is now fully compliant with all Nasdaq continued listing standards. This achievement highlights the company’s commitment to maintaining the standards required for listing on a major stock exchange, which includes specific financial, liquidity, and corporate governance criteria. In other developments, Brera Holdings PLC has scheduled its 2024 annual general meeting for shareholders to take place on March 28, 2025. The meeting will be accessible online, allowing shareholders of record to participate or vote by proxy if unable to attend. The notice and proxy statement for the AGM have been filed with the United States Securities and Exchange Commission, ensuring shareholders are informed and can exercise their voting rights on company affairs. These announcements reflect the companies’ efforts to maintain transparency and engage with their respective shareholders.
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