Mainz Biomed N.V. sees revenue increase and loss decrease with successful cancer detection studies

From GlobeNewswire: 2024-10-21 08:01:00

Mainz Biomed N.V. reported a 4% increase in revenue and a 32% decrease in loss from operations for the first half of 2024. The company’s groundbreaking studies, including the eAArly DETECT study, demonstrated a sensitivity of 92% for colorectal cancer detection and 82% for advanced adenomas. Plans for success in 2025 were highlighted.

Key findings from the eAArly DETECT study showcased at Digestive Disease Week 2024 included an industry-leading sensitivity rate of 97% for colorectal cancer and 82% for advanced precancerous lesions. A 100% detection rate was achieved for high-grade dysplasia within the patient cohort studied, receiving accolades as a Poster of Distinction.

During a poster presentation at ASCO 2024, Mainz Biomed revealed data combining results from the ColoFuture and eAArly DETECT studies, showing a 92% sensitivity for CRC and 82% for advanced adenomas. Significantly, high-grade dysplasia was detected in 96% of cases, further supporting the innovative screening approach of the company.

Mainz Biomed made enhancements to its ColoAlert® product, introducing a novel DNA stabilizing buffer to improve customer satisfaction and streamline lab operations. The new buffer decreased the need for sample resubmissions, resulting in the industry’s lowest retesting rates and faster screening outcomes within 2-3 days of sample arrival at the laboratory.

Collaboration with Liquid Biosciences for Mainz Biomed’s next-generation pancreatic cancer detection test was expanded. Leveraging Liquid Biosciences’ AI analysis platform, EMERGE, promising results from biomarker evaluations were obtained. The collaboration aims to optimize biomarker selection for PancAlert, potentially combining it with Mainz Biomed’s CRC screening product in the future.



Read more at GlobeNewswire:: Mainz Biomed Reports Mid-Year 2024 Financial Results and