Prenetics

Last updated

Prenetics (NASDAQ:PRE) is a health sciences company headquartered in Hong Kong with a significant presence in the United States. It is best known for its innovations in consumer and clinical health, focusing on early detection, prevention, and treatment of diseases, particularly cancer.

Contents

Prenetics' consumer initiatives are spearheaded by IM8, a health and wellness brand. Another key offering is CircleDNA, which utilizes next-generation sequencing (NGS) technology to provide comprehensive DNA testing for consumers, offering insights into health, wellness, and genetic predispositions.

The company's clinical arm includes Insighta, a joint venture focused on developing multi-cancer early detection technologies. Additionally, ACT Genomics develops and provides a variety of genomic profiling panels, including ACTOnco, ACT HRD, ACTFusion, and ACTDrug tests, tailored to meet specific clinical needs. ACTLiquid Pro, a sequencing-based liquid biopsy assay, and ACTMonitor, which tracks drug resistance, treatment response, and cancer recurrence in real-time, are among its notable products. ACT Risk offers management solutions for assessing and mitigating cancer risks.

Prenetics Global Limited
Company type Public
Nasdaq:  PRE
ISIN KYG722451229
Industry
Founded2014
Founders
  • Danny Yeung
  • Lawrence Tzang
Headquarters
Key people
Danny Yeung (CEO)
Website prenetics.com

One of its major investors was Alibaba founder Jack Ma. [1]

Since listing, it has not been able to turn a profit. [2] [3] 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. [4]

Danny Yeung is CEO of Prenetics. [5]

Prenetics has become the first Hong Kong–based unicorn to list on Nasdaq following a merger with a Special-purpose acquisition company Artisan Acquisition Corp. [6] [7]

Products

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

In 2023 it announced $200 million joint venture 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 be CEO of Insighta and Lo will be chairman. [12]

Covid testing contracts

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]

Related Research Articles

<i>Ming Pao</i> Chinese-language newspaper from Hong Kong

Ming Pao is a Chinese-language newspaper published by Media Chinese International in Hong Kong. In the 1990s, Ming Pao established four overseas branches in North America; each provides independent reporting on local news and collects local advertisements. Currently, of the overseas editions, only the two Canadian editions remain: Ming Pao Toronto and Ming Pao Vancouver. In a 2022 survey from the Chinese University of Hong Kong sampling 994 local households, Ming Pao was listed as the second most credible paid newspaper in Hong Kong.

<span class="mw-page-title-main">Shanghai Stock Exchange</span> Stock exchange in Shanghai, China

The Shanghai Stock Exchange is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock Exchange. The Shanghai Stock Exchange is the world's third largest stock market by market capitalization exceeding $6 trillion in July 2024. It is also Asia's biggest stock exchange. Unlike the Hong Kong Stock Exchange, the Shanghai Stock Exchange is still not entirely open to foreign investors and often affected by the decisions of the central government, due to capital account controls exercised by the Chinese mainland authorities.

<span class="mw-page-title-main">Qiagen</span> German biotechnology company

QIAGEN N.V. is a German-founded multinational provider of sample and assay technologies for molecular diagnostics, applied testing, academic research, and pharmaceutical research. The company operates in more than 35 offices in over 25 countries. QIAGEN N.V., the global corporate headquarter of the QIAGEN group, is located in Venlo, The Netherlands. The main operative headquarters are located in Hilden, Germany. European, American, Chinese, and Asian-Pacific regional headquarters are located respectively in respectively Hilden, Germany; Germantown, Maryland, United States; Shanghai, China; and Singapore. QIAGEN's shares are listed at the NYSE and at the Frankfurt Stock Exchange in the Prime Standard. Thierry Bernard is the company's Chief Executive Officer (CEO).

Richard Anthony Collins FRSC is a British scientist.

<span class="mw-page-title-main">Hong Kong Baptist Hospital</span> Hospital in Kowloon, Hong Kong

Hong Kong Baptist Hospital (HKBH) is a private Baptist hospital based in Kowloon Tong, Kowloon City District, Kowloon, Hong Kong. It is affiliated with the Baptist Convention of Hong Kong.

<span class="mw-page-title-main">Techtronic Industries</span> Hong Kong China manufacturer of power equipment

Techtronic Industries Company Limited is a Hong Kong–based multinational company that designs, produces, and markets power tools, outdoor power equipment, hand tools, and floor care appliances. It pioneered cordless power tools powered by lithium-ion rechargeable batteries.

Media Chinese International Limited is a Chinese language media platform targeting Chinese readers in major Chinese communities in southeast Asia. Its headquarters is located in Hong Kong. Tan Sri Datuk Tiong Hiew King is the chairman. It was formed by the merger of Ming Pao Enterprise, Sin Chew Media Corporation (Malaysia) and Nanyang Press Holdings (Malaysia) in April 2008 and its history can be traced back to the Malaysian operation units of Sin Poh Amalgamated which was founded by Aw Boon Haw in 1941. It is the first entity dually listed on the mainboards of the Stock Exchange of Hong Kong and the Bursa Malaysia. Media Chinese's product portfolio comprises 5 daily newspapers in 13 editions and 3 free newspapers with a total daily circulation of about 1 million copies, as well as about 30 magazines. The Group has also expanded its business into digital media. Media Chinese is the proprietor of Life Magazines, the largest Chinese language magazine publisher in Malaysia, and is the major shareholder of One Media Group Limited.

Natera, Inc. is a clinical genetic testing company based in Austin, Texas that specializes in non-invasive, cell-free DNA (cfDNA) testing technology, with a focus on women’s health, cancer, and organ health. Natera’s proprietary technology combines novel molecular biology techniques with a suite of bioinformatics software that allows detection down to a single molecule in a tube of blood. Natera operates CAP-accredited laboratories certified under the Clinical Laboratory Improvement Amendments (CLIA) in San Carlos, California and Austin, Texas.

<span class="mw-page-title-main">Dennis Lo</span> Hong Kong molecular biologist

Dennis Lo Yuk-ming is a Hong Kong molecular biologist who has been serving as the vice-chancellor and president of the Chinese University of Hong Kong (CUHK) since 8 January 2025. His research focuses on the detection of cell-free fetal DNA in blood plasma, and he is best known for his contributions to the development of non-invasive prenatal testing

<span class="mw-page-title-main">Chan Yung</span> Hong Kong politician (born 1969)

Brave Chan Yung, BBS, JP is a Hong Kong pro-Beijing politician. He is the vice-chairman of the Democratic Alliance for the Betterment and Progress of Hong Kong (DAB) and chairman of the New Territories Association of Societies (NTAS). He has been the Hong Kong deputy to the National People's Congress since 2013, and since 2022 he became a member of the Legislative Council, representing the HKSAR Members of NPC and CPPCC, Representatives of National Organisations constituency.

<span class="mw-page-title-main">Adrian Cheng</span> Hong Kong businessman

Adrian Cheng Chi-kong is a Hong Kong entrepreneur and business executive son of property developer Henry Cheng and grandson of Cheng Yu-tung. He is the former CEO and executive vice-chairman of the family company, New World Development, the heir and executive director of jewelry company Chow Tai Fook,. He is also the founder of K11, which has a portfolio of commercial, cultural and residential projects.

<span class="mw-page-title-main">Kevin Yeung</span> Hong Kong government official

Kevin Yeung Yun-hung is a former Hong Kong government official who served as the Secretary for Culture, Sports and Tourism from 2022 to 2024.

<span class="mw-page-title-main">SenseTime</span> Chinese artificial intelligence company

SenseTime is a partly state-owned publicly traded artificial intelligence company headquartered in Hong Kong. The company develops technologies including facial recognition, image recognition, object detection, optical character recognition, medical image analysis, video analysis, autonomous driving, and remote sensing. Since 2019, SenseTime has been repeatedly sanctioned by the U.S. government due to allegations that its facial recognition technology has been deployed in the surveillance and internment of the Uyghurs and other ethnic and religious minorities. SenseTime denies the allegations.

Shanghai Fosun Pharmaceutical (Group) Co., Ltd. is a Chinese pharmaceutical company. It is mostly owned by Fosun International.

Sophia Genetics SA is a data-driven medicine software company with headquarters in Lausanne, Switzerland and Boston, Massachusetts. It provides genomic and radiomic analysis for hospitals, laboratories, and biopharma institutions.

<span class="mw-page-title-main">Chun Yeung Estate</span> Public housing estate in Fo Tan, Hong Kong

Chun Yeung Estate is a public housing estate in Fo Tan, New Territories, Hong Kong. It is the only public housing estate in Fo Tan, located at the junction of Wong Chuk Yeung Street and Kwei Tei Street. It comprises 5 blocks and 1 shopping centre with total of 4,846 flats. Its name prefix "Chun" means "horse" in English since Sha Tin Racecourse is located in Fo Tan. It was completed in 2020.

<span class="mw-page-title-main">GenScript Biotech</span> Biotechnology group

GenScript Biotech, fully known as GenScript Biotech Corporation, usually referred to as simply GenScript, is a New Jersey–based biotech company. It was co-founded in 2002 in New Jersey by Fangliang Zhang, Ye Wang, and Luquan Wang. The company mainly provides life science research application instruments and services. It was listed on the Hong Kong Stock Exchange in 2015. The current rotating CEO of the firm is Shao Weihui, who also served as the chief operating officer and Chinese Communist Party Committee Secretary for the company. The company's main subsidiaries include Legend Biotech, ProBio Technology, and Bestzyme.

Futu Holdings Limited ("Futu") is a financial technology company offering digital financial services across global markets. Futu and its subsidiaries operate in seven key regions, including Hong Kong, the United States, Singapore, Australia, Japan, Canada, Malaysia. It provides a range of investment services and holds over 100 licenses and qualifications across various jurisdictions. Futu also owns Futu Securities International Limited, which is a licensed corporation recognized by the Hong Kong Securities and Futures Commission.

<span class="mw-page-title-main">Anson Lo</span> Hong Kong singer, dancer, and actor

Anson Lo Hon-ting is a Hong Kong singer, dancer and actor. In 2018, Anson Lo made his debut as a member of the Hong Kong boy group Mirror. Anson Lo made his solo debut in February 2020 with his first single "A Lifelong Mission" (一所懸命). In 2021, he won the Best New Asian Artist Award at the 2021 Mnet Asian Music Awards.

<span class="mw-page-title-main">Lo Chung-mau</span>

Lo Chung-mau is a specialist in liver transplant and is currently the Secretary of Health of the Government of Hong Kong. Before joining the government, he was Hospital Chief Executive at The University of Hong Kong-Shenzhen Hospital, Chair of Hepatobiliary & Pancreatic Surgery at The University of Hong Kong and Director of Liver Transplantation Centre at Queen Mary Hospital.

References

  1. 1 2 "Jack Ma-backed Prenetics plots IPO after COVID-19 test success". Nikkei Asia. Retrieved 2023-11-19.
  2. ↑ "Prenetics Global Limited (NASDAQ:PRE): Is Breakeven Near?". Yahoo Finance. 2023-11-11. Retrieved 2023-11-19.
  3. ↑ "Prenetics Global Limited (NASDAQ:PRE) Held Back By Insufficient Growth Even After Shares Climb 30%". simplywall.st. 2024-01-07. Retrieved 2024-01-20.
  4. ↑ "Prenetics Global Limited Announces Reverse Stock Split". Yahoo Finance. 2023-11-01. Retrieved 2023-11-19.
  5. ↑ Sobti, Tara. "Prenetics' Danny Yeung and Dennis Lo launch Insighta, an early cancer detection testing company". Tatler Asia. Retrieved 2024-02-02.
  6. ↑ Yang, Jing (September 15, 2021). "Prenetics, a Covid-19 Testing Startup, to Go Public in SPAC Merger" – via www.wsj.com.
  7. ↑ "Hong Kong biotech Prenetics tumbles after Nasdaq debut". Nikkei Asia. Retrieved 2023-11-19.
  8. ↑ "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.
  9. ↑ 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.
  10. ↑ "Exclusive: Hong Kong's DNA pioneers launch blood tests to find cancer". South China Morning Post. 2023-06-26. Retrieved 2023-11-19.
  11. ↑ "Covid-Testing Unicorn Is Plotting Bets for Post-Virus World". Bloomberg.com. 2022-05-18. Retrieved 2023-11-19.
  12. 1 2 3 Branca, Malorye (2023-06-29). "Dennis Lo and Prenetics Form Early Cancer Detection Firm Insighta". Inside Precision Medicine. Retrieved 2024-02-02.
  13. ↑ "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.
  14. ↑ "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.
  15. ↑ "Covid-Testing Unicorn Is Plotting Bets for Post-Virus World". May 18, 2022 – via www.bloomberg.com.
  16. ↑ Carp, Sam (2020-05-11). "Premier League taps Prenetics for coronavirus testing in 'UK£4m' deal". SportsPro. Retrieved 2023-11-19.
  17. ↑ Brown, David (2024-01-20). "Lab boss is suspect in police drug test inquiry". ISSN   0140-0460 . Retrieved 2024-01-20.
  18. ↑ Cunningham, Sam (2020-05-18). "Exclusive: Ferdinand to convince players on Covid-19 test safety". inews.co.uk. Retrieved 2023-11-19.
  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.

<reflist>

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.