BERKELEY, Calif. and MAINZ, Germany, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Mainz Biomed N.V. (NASDAQ:MYNZ) ("Mainz Biomed" or the "Company"), a molecular genetics diagnostic company specializing in the early detection of cancer, announced today a strategic partnership with labor team w ag ("labor team"), a renowned diagnostic laboratory based in Goldach, Switzerland. This collaboration introduces ColoAlert®, a DNA-based colorectal cancer (CRC) screening test to the Swiss market for the very first time, marking Mainz Biomed's initial footprint in Switzerland.
CRC remains one of the most common yet preventable forms of cancer worldwide. In Switzerland, thousands of new cases are diagnosed annually, underscoring the urgent need for early detection and prevention. The introduction of a DNA-based CRC screening test offers a transformative opportunity to increase participation rates and ensure early detection, aligning with national efforts to reduce CRC-related mortality and improve population health outcomes.
The new partnership combines Mainz Biomed's expertise in DNA-based diagnostics with labor team w's strong track record in delivering high-quality laboratory services. Together, the companies will provide a state-of-the-art CRC screening test to individuals across Switzerland.
"We are thrilled to partner with labor team to bring this innovative CRC screening solution to the Swiss market," said Guido Baechler, CEO of Mainz Biomed. "By integrating our cutting-edge technology into labor team's trusted diagnostic services, we aim to empower individuals with accessible and reliable cancer screening options, ultimately advancing public health."
Alain Cahen, CEO of labor team, adds "the introduction of ColoAlert® on the Swiss market continues to position labor team as the top innovator of private laboratories, helping more patients access reliable diagnostic tools in key disease areas such as colon cancer screening.
This partnership also marks an important milestone for Mainz Biomed, further expanding its presence in the European market with its flagship product ColoAlert®, the first DNA-based CRC screening test in Europe. It aligns with the growing demand for personalized healthcare solutions that prioritize early intervention and prevention.
The DNA-based CRC screening test will be available through labor team w's extensive network of healthcare providers starting in the spring 2025.
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About Mainz Biomed NV
Mainz Biomed develops market-ready molecular genetic diagnostic solutions for life-threatening conditions. The Company's flagship product is ColoAlert®, an accurate, non-invasive and easy-to-use, early-detection diagnostic test for colorectal cancer. ColoAlert® is marketed across Europe and the United Arab Emirates. The Company is currently running a pivotal FDA clinical study for US regulatory approval. Mainz Biomed's product candidate portfolio also includes PancAlert, an early-stage pancreatic cancer screening test based on real-time Polymerase Chain Reaction-based (PCR) multiplex detection of molecular-genetic biomarkers in stool samples. To learn more, visit mainzbiomed.com or follow us on LinkedIn, Twitter and Facebook.
About labor team
labor team w ag, based in Goldach in the canton of St Gallen, is one of Switzerland's leading private medical laboratories. Established in 2001 and run by medical professionals, it is now the fourth largest laboratory in Switzerland, with over 300 employees. labor team is one of the few laboratories that serves the whole of Switzerland. It provides professional services for disease prevention, diagnosis, monitoring and treatment of illnesses. The company covers every aspect of laboratory medicine and pathology. It performs medical tests and analyses in a state-of-the-art central laboratory, resulting in top quality services, a high level of flexibility and fast turnarounds.
For more information, visit: www.laborteam.ch
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Forward-Looking Statements
Certain statements made in this press release are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "anticipate", "believe", "expect", "estimate", "plan", "outlook", and "project" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company's expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and related targets; (ii) changes in applicable laws or regulations; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the "SEC") by the Company. Additional information concerning these and other factors that may impact the Company's expectations and projections can be found in its initial filings with the SEC, including its annual report on Form 20-F filed on April 9, 2024. The Company's SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to Mainz Biomed and speaks only as of the date on which it is made. Mainz Biomed undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
