Mainz Biomed N.V. (NASDAQ: MYNZ) went up by 80% after it announced that it and Socpra Sciences had executed a Technology Rights Agreement in order to gain access to novel mRNA biomarkers with the goal of integrating them into ColoAlert in the future. ColoAlert is Mainz’s easy-to-use and highly efficacious test for CRC (colorectal cancer).
The company is currently marketing this detection test in parts of Europe via its unique and innovative business model of entering into partnerships with 3rd-party labs for test kit processing. The company opts for this route instead of going the traditional way of operating one specific facility. Mainz also plans to initiate the regulatory pathway for its approval in the U.S.
Detail of the Agreement
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According to the Technology Rights Agreement, Mainz Biomed has the option to license its global rights to 5 gene expression mRNA biomarkers, especially the ones that have proven to be highly effective when it comes to detecting CRC lesions.
A clinical study designed to analyze and examine these particular biomarkers that were published in MDPI showed overall sensitivities of about 95% for CRC and 75% for A.A.
When the ColoAlert integration is complete, and these results are duplicated, the company believes that it’ll ultimately position its CRC detection test as one of the most accurate and robust at-home detection tests on the market.
It’ll be highly accurate at screening cancerous polyps, but it’ll also be able to help prevent CRC by detecting precancerous adenomas early.
What did top management say?
Mainz Biomed’s Chief Executive Officer, Guido Baechler, said:
Securing the exclusive rights to license this family of novel biomarkers is a fantastic milestone for the Company as it provides an extraordinary opportunity to potentially upgrade ColoAlert’s technical profile, possibly making it the most effective at-home screening test for CRC that has ever been commercialized.
Mr. Baechler claimed that their team is looking to create gold standard molecular detection options for cancer indications. He also says that the fact they got the exclusive rights to these biomarkers shows the company’s commitment and dedication to developing innovative and cutting-edge products.
The company will now go to Europe and start a clinical study to analyze how effective these biomarkers are so that it can improve ColoAlert’s utility when it comes to expanding its functionality to include giving it the capability to identify advanced adenomas.
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