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Prenetics

Topic: Company

 From HandWiki - Reading time: 3 min

Prenetics Global Limited
TypePublic
NASDAQ: PRE
ISINKYG722451229
Industry
  • Consumer Health
  • Health and Wellness
  • Genetic Testing
  • DNA Sequencing
Founded2014
Founders
  • Danny Yeung
  • Lawrence Tzang
Headquarters
Key people
Danny Yeung (CEO)[1]
Websiteprenetics.com

Prenetics (NASDAQ:PRE) is a health sciences company headquartered in Hong Kong, with a presence in the United States. It focuses on early detection, prevention, and treatment of diseases, particularly cancer.

Its subsidiary brands include CircleDNA, Insighta and IM8.

Company

One of the company's major investors was Alibaba founder Jack Ma.[2]

After listing, it struggled to turn a profit.[3][4] 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.[5]

Prenetics became 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 and brands

Subsidiary CircleDNA focuses on disease prevention rather than genealogy, launching a rapid DNA-based colon cancer screening product in 2016.[8] In 2019 it launched a line of at-home tests to be sold through retailers in Asia.[9]

In 2023, Prenetics announced a $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: a project called Insighta.[10][11][12] The early detection cancer test, Presight, was expected to begin clinical trials in 2024.[12], although as of 2025 no clinical trials have been announced.

In 2024, Prenetics partnered with investor David Beckham to form a new wellness brand, IM8.[13]

COVID-19

Prenetics was one of three companies selected to provide testing support to the Hong Kong government.[2][14]

The company's UK operation provided COVID-19 testing to the Premier League to help them restart football amid the pandemic.[15][16] As part of so-called "project restart" the company hired former FIFA player Rio Ferdinand to reassure players about the safety of the plan.[17] Around the same time, the company also launched pop-up testing sites.[18]

References

  1. ↑ Sobti, Tara. "Prenetics’ Danny Yeung and Dennis Lo launch Insighta, an early cancer detection testing company" (in en). https://www.tatlerasia.com/power-purpose/others/danny-yeung-dennis-lo-insighta-joint-venture. 
  2. ↑ 2.0 2.1 "Jack Ma-backed Prenetics plots IPO after COVID-19 test success" (in en-GB). https://asia.nikkei.com/Business/Markets/IPO/Jack-Ma-backed-Prenetics-plots-IPO-after-COVID-19-test-success. 
  3. ↑ "Prenetics Global Limited (NASDAQ:PRE): Is Breakeven Near?" (in en-US). 2023-11-11. https://finance.yahoo.com/news/prenetics-global-limited-nasdaq-pre-143203359.html. 
  4. ↑ "Prenetics Global Limited (NASDAQ:PRE) Held Back By Insufficient Growth Even After Shares Climb 30%". 2024-01-07. https://simplywall.st/stocks/us/healthcare/nasdaq-pre/prenetics-global/news/prenetics-global-limited-nasdaqpre-held-back-by-insufficient. 
  5. ↑ "Prenetics Global Limited Announces Reverse Stock Split" (in en-US). 2023-11-01. https://finance.yahoo.com/news/prenetics-global-limited-announces-reverse-100000640.html. 
  6. ↑ Yang, Jing (September 15, 2021). "Prenetics, a Covid-19 Testing Startup, to Go Public in SPAC Merger". https://www.wsj.com/articles/prenetics-a-covid-testing-startup-to-go-public-in-spac-merger-11631745000. 
  7. ↑ "Hong Kong biotech Prenetics tumbles after Nasdaq debut" (in en-GB). https://asia.nikkei.com/Business/Markets/IPO/Hong-Kong-biotech-Prenetics-tumbles-after-Nasdaq-debut2. 
  8. ↑ "iGene: Hong Kong biotech start-up Prenetics bringing 48-hour DNA tests to broader Chinese market for safer prescriptions" (in en). 2016-04-04. https://www.scmp.com/tech/science-research/article/1932838/igene-hong-kong-biotech-start-prenetics-bringing-48-hour-dna. 
  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" (in en-US). https://techcrunch.com/2019/07/29/prenetics-partners-with-watsons-one-of-asias-largest-personal-care-retailers-to-sell-its-new-consumer-dna-tests/. 
  10. ↑ "Exclusive: Hong Kong’s DNA pioneers launch blood tests to find cancer" (in en). 2023-06-26. https://www.scmp.com/business/china-business/article/3225286/cuhks-dennis-lo-launches-blood-tests-prenetics-group-find-cancer-cells-liver-and-lungs-propelling. 
  11. ↑ "Covid-Testing Unicorn Is Plotting Bets for Post-Virus World" (in en). Bloomberg.com. 2022-05-18. https://www.bloomberg.com/news/articles/2022-05-18/covid-testing-unicorn-is-plotting-bets-for-post-virus-world. 
  12. ↑ 12.0 12.1 Branca, Malorye (2023-06-29). "Dennis Lo and Prenetics Form Early Cancer Detection Firm Insighta" (in en-US). https://www.insideprecisionmedicine.com/news-and-features/dennis-lo-and-prenetics-form-early-cancer-detection-firm-insighta/. 
  13. ↑ "Prenetics, NASDAQ Health Sciences Company, Partners with David Beckham". 2024-07-11. https://ir.prenetics.com/news-releases/news-release-details/prenetics-nasdaq-health-sciences-company-partners-david-beckham. 
  14. ↑ "香港本地爆發迫近 政府考慮應否全民檢測新冠病毒" (in zh-hant). 2020-07-15. https://www.bbc.com/zhongwen/trad/science-53402970. 
  15. ↑ Carp, Sam (2020-05-11). "Premier League taps Prenetics for coronavirus testing in ‘UK£4m’ deal" (in en-GB). https://www.sportspromedia.com/news/premier-league-project-restart-coronavirus-tests-prenetics/. 
  16. ↑ Brown, David (2024-01-20). "Lab boss is suspect in police drug test inquiry" (in en). ISSN 0140-0460. https://www.thetimes.com/uk/healthcare/article/lab-boss-is-suspect-in-police-drug-test-inquiry-sst6633h6. 
  17. ↑ Cunningham, Sam (2020-05-18). "Exclusive: Ferdinand to convince players on Covid-19 test safety" (in en). https://inews.co.uk/sport/football/premier-league/rio-ferdinand-coronavirus-tests-testing-premier-league-project-restart-man-utd-428851. 
  18. ↑ Partridge, Joanna (2021-03-21). "Is this the future of office work – the pop-up car park Covid test pod?" (in en-GB). The Guardian. ISSN 0261-3077. https://www.theguardian.com/world/2021/mar/21/is-this-the-future-of-office-work-the-pop-up-car-park-covid-test-pod. 



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